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GUEST ESSAY: Securing your cryptocurrency — best practices for Bitcoin wallet security

The Last Watchdog

Over time, Bitcoin has become the most widely used cryptocurrency in the world. Backup, backup, backup. To guard against data loss, it’s crucial to regularly create backups of your Bitcoin wallet. Wallet backups provide a safety net in the event that your device breaks down, is misplaced, or is stolen.

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4 Ways to Store Backup Codes, Keys, and Seed phrases

Security Boulevard

Backup codes, keys, and seed phrases are important if you lose access to multifactor authentication (MFA) methods or are otherwise completely locked out of your accounts. There are many methods to store backup codes, keys, and seed phrases. TABLE OF CONTENTS Importance of backup codes, keys, seed phrases 1. Writing down codes 2.

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The Link Between Ransomware and Cryptocurrency

eSecurity Planet

Cryptocurrency Fuels Ransomware. One constant in all this will be cryptocurrency, the coin of the realm when it comes to ransomware. Cryptocurrency really is fueling this in a sense. … If you were to take cryptocurrency away from that, they don’t have a convenient digital platform.

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Colonial Pipeline Paid Hackers $5 Million Ransom

Adam Levin

Bloomberg News reported that the company paid the ransom in cryptocurrency hours after the May 7 cyberattack that shut down the country’s largest fuel pipeline. The tool was found to have limited use, leading the company to instead restore data from its own backup system.

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The BlueNoroff cryptocurrency hunt is still on

SecureList

Also, we have previously reported on cryptocurrency-focused BlueNoroff attacks. It appears that BlueNoroff shifted focus from hitting banks and SWIFT-connected servers to solely cryptocurrency businesses as the main source of the group’s illegal income. The group is currently active (recent activity was spotted in November 2021).

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NFTs – Protecting the investment

CyberSecurity Insiders

Just as cybersecurity has needed frequent and substantial improvements to shore up the security scene , so have NFTs, and those who purchase them. Cryptocurrency has been subjected to a rapidly changing balance of laws for the government to try and control it through regulation. Cryptocurrency wallet theft is no small issue.

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Data leak at fintech giant Direct Trading Technologies

Security Affairs

On October 27th, the Cybernews research team discovered a misconfigured web server with backups and development code references allegedly belonging to the fintech company Direct Trading Technologies. Also, DTT offers white-label services for fintech solutions. Fintech companies manage and store exceptionally sensitive customer data.