Concerns around the vulnerabilities inherent in crypto-currencies are not new, with several countries implementing increasingly complex bans on them, including China, Bangladesh, Qatar, Nigeria, Egypt and Morocco. Others are considering increasingly rigorous controls over how these currencies are managed and accessed.
“This could be used to phish their customers, scam them, hijack accounts and steal data, or gain user trust so they can steal their information. These are just some of the opportunities that are ripe for fraud, and people need to be prepared for these risks and take steps to protect their funds.” This adds on an additional level of protection that can mitigate the risks of the secret key being stolen by malware on a computer, for example. This does offer a level of protection, Collard explains, but will not help protect against phishing scams trying to lure people into authorising payments, providing their key to the scammers or falling for any of the other fraudulent crypto investment scams.
She says smart contracts are pieces of code that are used by crypto platforms, exchanges and other players to transact on the blockchain.
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Source: SowetanLIVE - 🏆 13. / 63 Read more »
Japan to revise foreign exchange law to end crypto loophole for sanctions on RussiaJapan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow's invasion of Ukraine through cryptocurrency assets, top government officials said on Monday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »