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The rise of cryptocurrency and the increasing popularity of online banking has led to a surge in cybercrime and identity fraud.
A recent study by PrivacyAffairs.com shows that an individual’s personal information is valued at $1,010 on the dark web, with hackers targeting online banking logins, credit card details, and social media credentials.
Of particular concern is the sale of hacked cryptocurrency accounts, which is now booming, according to an official press release published on May 1, 2023.
Cryptocurrency exchange Coinbase has become a popular target for hackers, with stolen verified accounts selling for $610 on the dark web. Another popular exchange Kraken has also seen its users’ accounts hacked and sold online for as low as $810.
The sale of hacked cryptocurrency accounts is a lucrative business for cybercriminals, and the demand for them has only grown in recent years as more people invest in digital assets. With cryptocurrencies being largely unregulated and decentralized, they are seen as an attractive target for hackers looking to make a quick profit.
As the value of cryptocurrencies continues to rise, so too does the incentive for hackers to steal them. The anonymity of cryptocurrencies makes it difficult to track down and recover stolen assets, leaving victims with little recourse.
Tackling the threat of identity theft and hacking
To mitigate the threat of identity theft and hacking, PrivacyAffairs.com emphasizes the importance of public awareness and diligence. Users should be vigilant about protecting their personal information online and using strong, unique passwords for each account. Two-factor authentication is also a crucial tool in securing online accounts.
Cryptocurrency users should take extra precautions, such as using cold wallets to store their digital assets offline and avoiding sharing their private keys or seed phrases with anyone.
As the use of digital assets and online banking becomes increasingly prevalent, the threat of cybercrime and identity fraud will only continue to grow. It is essential for users to take the necessary precautions to protect themselves and their assets from hackers and other malicious actors on the dark web.