Page 119 - Cyber Defense Magazine for August 2020

Are the Worst Cryptocurrency Security Breaches Behind

Us?

By Tim Fries, Co-Founder, The Tokenist

You would be right in assuming that blockchain itself was never hacked, but that doesn’t mean people
don’t like to give up security features for the sake of convenience. Crypto exchanges are especially
notorious for mass hacks that besmirch the entire cryptocurrency ecosystem.

Moreover, no matter what kind of crypto wallet you have, due to the decentralized nature of
cryptocurrencies, it’s akin to having a bank account in your pocket. In the end, we may as well rely upon
the insured deposits of web-based wallets – crypto exchanges – more than anything else.

Cyber Defense eMagazine – August 2020 Edition 119
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