Cryptocurrency account hacking is on the rise.
The popularity and surge in prices in Bitcoin and Ethereum means that virtual currencies often become a target for hackers that want to take advantage of these valuable assets. “The economics of hacking suggests that attackers will continue to gravitate towards digital currencies as they increase in value and become more prevalent in our daily lives,” says Jack Mannino, CEO of nVisium, a Falls Church, Virginia-based application security provider. Tracking the work of hackers is often challenging since their footprints can be eliminated digitally. When a cryptocurrency account is hacked, investors do not have any recourse legally since the virtual coins are still unregulated by a government entity or central bank.