Cryptocurrency was introduced to the world upon the creation of Bitcoin almost a decade ago, in 2009. Although in its initial stages, crypto was not adopted at a wider scale, however with the passage of time, there has been an increased worldwide adoption of crypto as hundreds of new digital currencies have emerged in the market, sparking the interest of investors in these digital assets.
However, one consequence of the rise in popularity of the crypto all around the world has been the increased interest of scammers and hackers in this area, who have begun targeting these digital assets through their scam and hack attempts.
It is indeed quite probable that the trajectory of the worth of digital currencies is on the rise in the longer run, and thus, the hackers and scammers are also expected to be attracted more towards this sector.
It should be noted that it is extremely difficult to trace and track back to the hackers once they have successfully penetrated inside a crypto account (wallet etcetera), given these attackers can potentially erase their digital footprints. Also, since the blockchains are decentralized, meaning that no regulatory authority overlooks this network, therefore once a crypto account is hacked, there is not much the victim can do to legally take action against the attacker.
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