Crypto currencies are increasingly valuable and make hackers interested in getting them easily. They then lurk users and service providers and money to buy cash.
Store cryptocurrency in electronic devices, it's like carrying money in a wallet. The currency stored in your wallet is indeed vulnerable to being stolen by hackers.
Because, the application is connected to the internet. To create a private key that is used to make transactions. The private key is a special line of users.
Not only is the application of crypto money vulnerable to hacking. But the company that provided the wallet service too, even the crypto exchange company was also the target. Some time ago, the exchangers of Bithumb crypto were prey to hackers,
hackers managed to steal IDR 442 billion.
Therefore, communication is one of the issues that will haunt crypto money players. The CEO of digital trade services and cryptocurrency exchanger company, Yusho Liu said to restore the currency, one of the usual methods is Hot Storage and Cold Storage.
Yusho explained that Hot Storage is a money storage medium that is directly connected to the internet (online). Yusho said that Hot Storage is comfortable but has a high risk of hacking attacks. While Cold Storage is a storage medium that can be done without connecting to the internet (offline).
Financial service providers to sort out the money into twice this storage. This is done to give customers to customers. So if the Hot Storage is broken, then there is still the amount of money left in Cold Storage.
"Hot and Cold are commonly used for crypto dollars. If Hot Storage is attacked by hackers, then not all assets will be affected. The composition is approximately 90 percent Hot Storage, 10 percent Cold Storage," Yusho said.
Nevertheless, Yusho said that this method would make customers less comfortable. The reason is that different personal keys are needed from Heat Storage to Cold Storage. So thank you for the new information to receive these asset transactions.
"It is indeed uncomfortable compared to using Hot Storage as a whole. If it is appropriate, it is more complicated because there is an excessive portion. For social matters, it is more helpful," Yusho said.
Yusho said that in addition to Hot Storage and Cold Storage, exchanger companies can also implement multi-signature wallets. Yusho explains that multi-signatures are digital wallets that require the authorization of more than one user to transfer funds.
hackers, said Yusho not only breaking through companies, but also through money. When customers are less anxious
for the sake of private key secrets, the assets can also be vanished by hackers.
"Security has two lines, the first line from the company, the second line from the user. If the company is ready but the user is affected, it's useless.
Customers must also be able to make an exchange, so that their private key is not hacked, "Yusho said