The cryptocurrency world is in hot and volatile water again with Bithumb, the world's sixth most active crypto trading platform declaring that hackers stole 35bn in crypto cash (that's a Dollar value of $31.6m) 'overnight' last week. This is the second time in a week that South Korean crypto-currency exchanges have been attacked, with Coinrail being last week's 40bn crypto-coin victim.
Being a cautious group by nature, Cyber security enthusiasts always approach new digital currencies with caution. Forget the hype and the criminal element that places Bitcoin and the blockchain at the center of many an international drug scandal and on the SEC hitlist, the safety and security of everyday trading is troubling to cyber security enthusiasts.
In the Startup Tech Capital of the World, it seems only fitting that a new cryptocurrency would spark immediate excitement for potential investors. Silicon Valley leads the world in tech projects and blockchain projects yet, until now, VC (Venture Capital) funding has overwhelmingly gone through traditional funding channels.
By James Azar
The many detractors of crypto currency use the it isn’t safe argument every time. I have to disagree with that. It’s not safety, it’s a lack of education. I am in the midst of writing my book titled “The myth behind a secure blockchain – Addressing the need for cyber security in blockchain”.