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Is Your Cryptocurrency Safe From Dusting Attack? – ALTCOIN MAGAZINE

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Is Your Cryptocurrency Safe From Dusting Attack? – ALTCOIN MAGAZINE

 

Cryptocurrency is very secure only because of the new technology called blockchain. But the issue arising is its storage. Storing the crypto isn’t an easy task now as the new threat known as dusting attack has been detected.

 

The new type of attack came into the action these days by the hackers in which they transfer a small number of crypto to the investor’s wallet and fetch their private details. This stealing of personal information through the coins is known as Dusting Attack.

 

The smallest amount of crypto is never taken into consideration by the investors and even this dust (negligible amount of coin) isn’t tradable. So hackers started more dust attacking.

 

From the beginning, hackers start sending the dust in the wallet of the investors and through this, they can track the transaction details of the wallet using the tracking algorithms of the blockchain. Even these algorithms are enough capable to reveal the private information which leads to the identification of the wallet owner. Then through these details, they start blackmailing the owners to reveal themselves publicly.

 

Previously, the attackers used to send a smaller amount of cryptocurrencies in the wallet and it was limited to the bitcoin wallets only. But now, it is very common in almost every cryptocurrency whose blockchain is public. Now, the coins are being stored on the exchanges and third-party wallets. The risk to these wallets and exchanges is very high.

 

– Keep the private keys with you only

 

– Don’t use exchange or third party wallets as storage

 

– Don’t reveal anything on social media or even with your friends

 

– Use Ledger, Trezor, Opendime, Coldcard, offline methods for the transactions preferable is Coldcard.

 

– Core wallets can be used for storage.

 

– For transactions, use private browsers, different e-mail ids, and password which should neither be related to you nor to your commodities. It must be strong enough and can’t be linked anywhere else.

 

– Use only secure devices for e-mail usage and keep the keys very secure and also keep the backups at different places. Don’t use the used wallets for the backup.

 

– Do not use any public computer or someone else’s computer to access your wallets. Not even if you trust them.

 

Find the few trading platforms suggested by the experts and use them only.

 

This story was original published by PodMiners. It is a revolutionary concept that is based on blockchain technology, used for podcasting and broadcasting. The integration of technology helped to solve several issues.

 

Published at Tue, 20 Aug 2019 00:19:34 +0000

 

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✅ Marco Verch is a Professional Photographer and Speaker from Cologne. 👆 This image can be used under Creative Commons 2.0. Please link to the original photo and the license.

By wuestenigel on 2018-10-27 14:24:44

 

The post Is Your Cryptocurrency Safe From Dusting Attack? – ALTCOIN MAGAZINE appeared first on The Bitcoin Street Journal: Breaking Bitcoin News, Bitcoin Business, Bitcoin Financial & Economic News, Bitcoin World News & Video..

 

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Taken on October 27, 2018