Connect with us

Tech

95% of Cryptocurrency Crimes Linked to Bitcoin: Analyst

mm

Published

on

NEW YORK CITY – Jonathan Levin, the co-founder, and COO of Chainalysis, on one of the episodes of Fortune’s “Balancing the Ledger” said that Bitcoin is the favorite cryptocurrency crime of criminals to carry out illicit activities. The analyst said that despite the availability of 2000 different cryptocurrencies and many privacy coins, about 95% of cryptocurrency crimes are linked to Bitcoin. It is so because Bitcoin is the top digital coin in the market and enjoys the highest value among all cryptocurrencies. Also, the transaction volume of Bitcoin is the highest in trading and spending, among all the other cryptocurrencies.

The firm, Chainalysis has been responsible for developing software to help cryptocurrency firms and law enforcements in tracing the public ledger of transactions on 10 different blockchains. Also, many dollar-backed stablecoins have been added under this. Levin said that most of the illegal activities in the US have been conducted to buy opioid drugs such as fentanyl and other drugs from pharmacies in China by paying in bitcoin cryptocurrency. Homeland Security and the DEA have managed to seize people involved in illegal activities related to cryptocurrencies.

Out of all latest blockchain & cryptocurrency news, this bitcoin mystery gained the attention of a huge number of people all across the world. Chainalysis, in its earlier attempt, could not manage to crack the mystery behind the lost access to 190$ million of customer funds through the Canadian cryptocurrency exchange, QuadrigaCX post the death of its CEO. However, in the end, it was explained by Levin that Quadriga never had those customer funds and where that money went is an intriguing subject to ponder.

From television to the internet platform, Jonathan switched his journey in digital media with Bigtime Daily. He served as a journalist for popular news channels and currently contributes his experience for Bigtime Daily by writing about the tech domain.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

The Importance of Cyber Hygiene: Tips from HelpRansomware Experts

mm

Published

on

Byline: Katreen David

In the digital age, the adage “an ounce of prevention is worth a pound of cure” has never been more relevant. 

For Juan Ricardo Palacio and Andrea Baggio of HelpRansomware, the battle against digital threats is a daily reality. Founded in response to the growing menace of ransomware, HelpRansomware has made it its mission to recover data while educating the public on the importance of cyber hygiene. 

“Preventing a cyberattack before it happens is crucial. We can safeguard digital assets more effectively by nipping the threat in the bud through vigilant monitoring and proactive measures,” says Baggio.

The Growing Threat of Cybercrime 

Cyber threats have become increasingly pervasive and sophisticated, impacting businesses and individuals alike. According to research, there are an estimated 2,000 cyberattacks per day globally. This equates to over 800,000 cyber crimes annually. In line with this, the worldwide cost of cybercrime is projected to reach the $23 trillion mark by 2027

This alarming figure highlights the critical need for robust cybersecurity practices. HelpRansomware has responded to this challenge by accentuating the importance of preventive measures. “Our goal is to create a safer digital environment where cyber hygiene is as natural as brushing your teeth,” says Palacio.

Cyber Clean: Maintaining Digital Hygiene 

HelpRansomware advocates for a proactive outlook on cybersecurity. It offers practical tips for maintaining good cyber hygiene, such as regularly updating software, using strong and unique passwords, developing risk management plans, and educating employees about phishing scams. 

“Cyber hygiene is about taking small, consistent actions to protect your digital assets,” explains Palacio. “When we practice good cyber hygiene, the chances of cyber attacks occurring shrink significantly.” 

Businesses can significantly reduce cyberattack vulnerability by integrating these practices into daily routines.

HelpRansomware’s Role in Promoting Cyber Hygiene

Beyond recovery services, HelpRansomware is dedicated to raising awareness and providing education on cybersecurity best practices. It conducts workshops and seminars to help organizations understand the importance of cyber hygiene. This unique initiative mirrors the company’s sincere efforts toward shielding the world from the dark side of the web. 

“Education is the first line of defense against cyber threats,” emphasizes Baggio. “Francis Bacon’s famous quote will always ring true in every industry: ‘Knowledge is power’.” 

HelpRansomware’s efforts are power moves across the board that help businesses recover from attacks. Its checkmate move, however, is its vision to build a culture of prevention that can safeguard against future threats.

In an era where cyber threats lurk around every unlikely corner of the internet, the importance of cyber hygiene cannot be overstated. Through its innovative solutions and educational initiatives, HelpRansomware is leading the pack in promoting better cybersecurity practices. “We believe that a well-informed and vigilant community can defeat cybercrime,” concludes Baggio. 

HelpRansomware’s proactive stance on cyber hygiene is setting new standards in the industry. Through education and preventive practices, Andrea Baggio and Juan Ricardo Palacio are fortifying the digital community, making sure that future cyber threats are met with informed and resilient defenses. Cleanliness matters in both the tangible and digital world.

Continue Reading

Trending