$3.8 Billion in Cryptocurrency Lost to Hacks Last Year - How to Avoid Them in 2023

cryptonews.com:

Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

With the rise of cryptocurrency, and its potential to revolutionize cross-border finances, individuals and businesses have started taking full advantage of digital currency. Unfortunately, this means that hacking has become an ongoing risk for crypto users. With media headlines continuously describing cases of stolen funds due to poor security practices it has become increasingly important to know how to protect crypto from hacks. In this blog post I’ll be discussing what experts expect will look like by 2023 – guiding you on what tools and strategies you need currently implement into your workflow for maximum protection against hackers.

A February 2023 report from Chainalysis, a blockchain forensics firm specializing in tracking down fraudulent activity, indicated that 2022 was an unprecedented year for crypto hacking with $3.8 billion stolen from cryptocurrency businesses and organizations. Crypto security involves how to keep crypto safe while managing risks, understanding how cryptography works with data encryption and virtual ownership and how to keep crypto safe that can result in financial loss. Understanding how to securely store digital tokens, as well as how to handle exchanges and activities involving cryptocurrencies, are important steps in utilizing crypto security most effectively. By having a smart strategy for crypto security, individuals can protect their investments in digital currency from potentially malicious actors.

Taking a multi-layered approach to asset management is critical for cryptocurrency protection. Without a comprehensive view of the risks associated with cryptocurrency, massive