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Understanding the Cybersecurity Risk of Bitcoin

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Are you interested in purchasing Bitcoin? If so, it’s essential to understand the potential security risks surrounding it. With cybercriminals ramping up their attacks, cryptocurrency will likely be a target.  Here’s what you need to know.
Wallets Carry Risks
Cryptocurrency enthusiasts use both hot and cold wallets to store their Bitcoin. A hot wallet has an internet connection, which makes it potentially hackable. You might wake up one morning to find your funds depleted by an infiltrator overnight.  A May 2019 cyberattack on a Binance hot wallet led to a theft of $41 million—more than 7,000 …

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