Bitcoin users face more difficulties than Twitter with recent hack

Bitcoin users is the key objective of scammers.

BTC value declined by more than 1.9% reaching the minimum of $9037 on the day of attack, July, 16th.

The crypto decrease prevent it from testing a psychological level of $9000.

The divergence indicator GTI Vera Convergence, the crypto index that tracks whether prices move upwards or downwards, is now showing selling signals for the first time from early June when BTC failed to test $10K.

The chief market strategist at Miller Tabak + Co Matt Maley stated that in case BTC falls below $9K, this would be a “yellow” warning for crypto. He added that further decline to $8636 would cause “red signal”.

“Apart from this, Edward Moya, senior market analyst working for Oande exchange in New York, stayed that Twitter attack is a fine reminder of how crypto traders are vulnerable to hacking attacks.

He claimed that malicious actions have always been a serious issue for BTC, and they would be unlikely to disappear in the nearest future.

On Wednesday, 15th July, 130 of famous accounts with millions of subscribers were hacked in a cyber attack.

Fraudsters asked some users to send Bitcoins to certain crypto wallet saying that the money would be doubled in 30 minutes.

The incident made Coinbase exchange block money sendings to this address. Nevertheless, hackers scammed investors getting at least $120 000.

The investigations show that more than half of this sum was sent from this this crypto wallet to other accounts.

Blockchain for enhancing cybersecurity.

Blockchain technology has gained popularity as it has great potential for most of industry sectors. Cybersecurity is a field strongly affected by the innovation, and its opportunities are still to be growing.

Blockchain has made it possible to eliminate the human factor from data storage, and, as a consequence, reduce the risks of mistakes often made by people which is the main reason of data leakages.

Blockchain may improve cybersecurity if such companies as Twitter

Companies from any industry may transfer their digital transactions or assets to blockchain. The technology may be applied for preventing any kind of cyberattacks like personal data stealing, leakage of information or cheating in transactions.

This ensures that the data remain to be secure and confidential. Using blockchain on social media has a crucial importance – due to the technology, companies that apply blockchain systems may face serious structure changes for making the security issue protected from malicious access.

 

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