✨Hello dear all !✨
Today I am going to do my homework task, I have attended the lecture of professor of @gbenga and have understand very well and now I will do my homework task of week #5 which is all about block chain security.
SECURITY PROBLEMS WITH CRYPTO CURRENCY
Cryptocurrency being a decentralized currency have many other problems apart from the corruption a third party mad there are many other problems or i say security problems a crypto user face.Source
In crypto one side effect of decentralization is that no one here is responsible for any kind of your loos and no one pay for your loos, in this case you are responsible for all your security and you will have to take care of your wallet your coins by yourself.
There are problems users face with the private key because private key is the key to your wallet or account and once you lost it there is no other way to recover it and have your money back and the problem is that you cannot even remember your password because the passwords are provided by them and you cannot set your own password that's why whenever you lost or delete your private key you can not recover it back in any case.
I will disscuss some other security problems with crypto and what hackers do in crypto.
In phishing attack what actually hackers do is they send you a kind of email or message realated to your wallet security or according to account security and the email is same as the real page, they actually copy the design of original websites and when you open them they sometimes say that your account is got hacked and resets your passcode or sometimes say that someone is trying to login to your account and reset your password to secure your account and in this way when you got panic and enter your password in that situation they got to know your password and your account got hacked in this way.
Crypto jacking as many of the cryptocurrency users has face this problem of cryptojacking and i will tell you guys how they actually get this. They are one of the hackers that use or I say control your computers and you don't even know about it, they hack your computer and once they are successful in doing so they start mining with your computer and without your approval.
Now how they actually use your computer that easily? Actually they did it by pushing adds which comes to you continuously, and said secure your account or sometimes say that claim you air drops or your prize and in this way trick the users to install that mining software into their computers and in this way they start mining through your computer and your computer is than under others control not yours.
Dusting attack is a kind of attack which hackers do, what they actually do is they send a very small amount of money to your account and than with the help of that amount they trace the overall money in your wallet when they trace the money(dust) in your wallet they start to search for the wallet owner and than they send the wallet owner some pushing links and when they click the links they got scammed with it and get their wallet keys or passwords.
MY PERSONAL EXPERIANCE
In this case i will not lie i haven't had any of my personal experience with this kind of scams or attacking and i am not that expert in using crypto in that big scale so that i can get scam but yes i am using steemit and here i got many of the pushing links and they said click to secure or click to claim your steem air drops and if we click them they will want our private key and if mistakenly we enter our key we will have a big lost of all our account and coins in it.This was my homework task of week #5 for you professor @gbenga , I will learn more new things from you professor and thanks for the previous lectures too.