Only certain measures can be taken to protect yourself from an online attacker, but what precautions have you made to thwart away offline criminals? After last year’s boom in the crypto world many emerged with more money to their name than they thought possible. These individuals who possess riches in tokens, or have traded tokens for centralized riches are now the targets of not only online but offline attacks, and criminals.
Many investors are on high alert, keeping low profiles, realizing that not only their money may be at risk but also their personal safety. In December, Pavel Lerner, CEO of cryptocurrency exchange Exmo Finance was released from the hands of kidnappers after a $1 million bitcoin ransom was paid. Another incident occurred last fall, when New York authorities reported the armed robbery of someone in possession of $1.8 million-worth of ether.
According to an anonymous Reddit account named “Grumpynitis”, the individual behind the account claimed to possess a small fortune in digital currencies and have become paranoid about his financial and personal security. Currently, Grumpynitis uses a complicated encryption to hide his wallet password and is fearful of logging into his account via any device.
It is my hope that we will see more user-friendly ways to manage security and privacy in this new crypto-world,” he said. “Security usability is an industry challenge, that, once improved, will help to increase adoption by orders of magnitude. Security and usability can, and should be able to coexist.
One reason in particular as to why these attacks occur is due to the pride that many of these investors possess. Individuals who obtained a small fortune in the digital currency community are too proud to keep their mouths shut, which may become a fatal mistake in the future for them.