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Tuesday, November 30, 2021

Crypto Prices Surge, But Can Also Lead To Crypto Crime

Crypto prices have been on the rise nonstop. On Tuesday, Bitcoin passed the 50k dollar benchmark for the first time in its history. After three days, the market capitalization of BTC simply surpassed 1 trillion dollars. Altcoins, or cryptocurrency, in general, have been on the run lately. And everybody knows about it. Part of the reason is support from popular manganites like Elon Musk. Tesla bought a heavyweight of 1.5 billion dollars in the oldest cryptocurrency in the world. But the price of the digital asset increasing is a good thing, isn’t it? It also becomes a breeding ground, tempting several to pull a crypto heist. 

Hackers are raising their game when it comes to cryptocurrency stealing. And the news has been following around since the crypto prices have been on a hike. On Wednesday, an indictment was unsealed by the Justice Department. It alleged that military hackers from North Korea have a larger plot of stealing cryptocurrency and money from around the world. It also involves Sony Pictures in the game. The Homeland Security Department and FBI gave a warning on how hackers are readying themselves. 

Crypto Prices Are Affected By Crypto Crimes 

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There’s a new crime in a town called cryptojacking. The hackers use computers of unsuspecting victims to mine cryptocurrency from individuals or businesses around the world. 

A research scientist from a cybersecurity company said that there is a correlation between rising crypto prices and the activities of cryptojacking. They are parallels in scale. Experts have reported several of these incidents could be avoided. And it all can be done simply with a more secure password. 

Several reports have discovered that Iran, as well as North Korea, have recently leaned towards cyberattacks. They attack several digital wallets and grow their coffers.

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