Page 40 - Cyber Defense eMagazine - December 2017

▪ Electronic Wallets for storing bitcoin related information will be run by novices
who don’t understand strong crypto, strong password management, multi-factor

authentication and good computer hygiene including patch management,
vulnerability remediation, next generation antivirus cleanup, advanced firewalls,

host-based intrusion prevention and even daily backups. Wallets will be easily

compromised and crypto-currencies stolen;

▪ Few online trading sites and platforms will be 100% trustworthy and none will be

100% secure. Expect online trading fraud, theft of online cryptocurrency accounts
and online hacking to run rampant in this space.

Stay tuned for our upcoming articles that will shine a light on this dark area of
commerce. When regulators jump in due to fraud it can be a good thing but for a

crypto-currency it will most likely cause the bubble to burst and we’ll see the Internal

Revenue Service (IRS.gov) push for it to be treated as a form of currency when, for
now, they and the US Treasury (treasury.gov) call it an ‘asset’ like a book or your

house. It won’t take much for the growth of crypto-currency tied to the attraction of a
soft-underbelly hacking target to make this a reality. Bookmark this page and keep an

eye on it: http://www.cyberdefensemagazine.com/bitcoin-blockchain-and-breaches/

40 Cyber Defense eMagazine – December 2017 Edition
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