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Full Version: Cryptocurrency marketplaces leave $18 million in the open for anyone to steal, leak u
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Quote:Cryptocurrency has been in the public eye for a few years now with the increasing popularity of Bitcoin and its massive valuation. Celebrities and influencers have jumped on the bandwagon, coming out with their own coins in ICOs (initial coin offerings) that can raise vast amounts of money for the coin creators. Cryptocurrency is also considered anonymous, private and secure by the general population.
For these reasons, cryptocurrency marketplaces are being opened all over the world to meet the demand. In fact, there are an estimated 18,988 markets for trading cryptocurrencies, but they are trading only about 1,700 cryptocurrencies. The reason for this is that marketplaces make a percentage on every transaction, allowing for major profits. According to Bloomberg, exchanges can make up to $3 million per day, or nearly $1 billion in one year.
So, in that mad rush to make money, the smaller or newer exchanges may leave security behind as a second thought. And that’s exactly what we found.