![]() ![]() Accessed 5 Sept 2022īBC News, Coincheck: World's Biggest Ever Digital Currency 'Theft' (2018), Available at. Banerjee, Everything You Need to Know About Consortium Blockchain (2021), x, Available at. Awati, What Is Nonrepudiation and How Does It Work? (2021), Search Security, Available at. Accessed 5 Sept 2022Īvi Networks, What is Elliptic Curve Cryptography? Definition & FAQs | Avi Networks (n.d.), Available at. Arora, Android’s Attribute Android: Allow Backup Demystified (2020), Available at. Accessed 5 Sept 2022Ī, How to Keep Android Phone Safe and Secure after Root (2016), Available at. Amiet, Blockchain Vulnerabilities in Practice (2021), Available at. Additionally, the article will gather and present potential recommendations aimed at raising user awareness on mitigating potential cybersecurity threats when utilizing cryptocurrency wallets. The purpose of this article is to highlight the significance of security measures within these applications, outline the vulnerabilities present in hot wallet applications, and shed light on the methods employed by hackers to execute successful attacks. In this chapter, a comprehensive security analysis has been conducted to identify the cybersecurity mechanisms employed by current Android crypto hot wallet applications in the post-pandemic society. This rise in Cryptocurrency usage from the COVID-19 pandemic shows the need for higher level of cyber security measures and mechanisms to be implemented to protect users from having their wallets hacked into and information stolen. Even though Blockchain is highly secure and Cryptocurrency uses a number of cryptographic principles for the protection of data, there have been many known attacks and security breaches where Cryptocurrency exchanges have experienced their Cryptocurrency wallets being hacked into, and having their digital assets and users sensitive information stolen. ![]() This exposure to technology led more people towards Cryptocurrency as a way to safely send digital funds back and forth to others, without a need for a central bank involved.Ĭryptocurrency wallets have also been popular in recent years, which are a wallet system that allows Cryptocurrency investors to store all of their digital assets in one wallet, whether it be a hot wallet (mobile app, desktop website) or cold wallet (paper wallet or hardware wallet) for example. Not everyone trusted technology however the COVID-19 pandemic slowly transitioned most physical systems into online and digital systems. Cryptocurrency is a form of digital currency that runs on the secure distributed ledger system known as Blockchain.Īfter the COVID-19 pandemic, Cryptocurrency had a rise in usage due to people on a global scale being forced to adapt to physically safer measures through the use of technology. One sector that has been affected and been increasingly spoken of over recent years is Cryptocurrency. After the COVID-19 pandemic, cyber security and its mechanisms upon information systems in all industries took a rise, due to the increase in attacks such as phishing scams and data breaches. ![]()
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