Security Trends Next Year and Beyond

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Cryptography is the cornerstone of informational security, but not everything is entirely secure in the world of cryptocurrency. Crypto-exchanges are still subject to fairly regular attacks and hacks, while even cryptocurrencies are confronted with the rare 51% attack.

How will this picture change in 2020 and the coming decade? Well, as crypto grows further and enjoys greater adoption, it’s almost inevitable that attempts by cybercriminals to take a piece of the pie for themselves will grow in parallel.

And as a variety of experts tell Cryptonews.com, it is likely that (attempted) attacks against exchanges will increase in 2020, and that the mining reward halving of Bitcoin Cash (BCH) and Bitcoin SV (BSV) may make these altcoins more susceptible to 51% attacks.

Looking back at 2019

How accurate were Cryptonews.com’s security predictions for last year? Well, the main prediction experts made concerned the growth in crypto-mining malware targeting Internet-of-Things (IoT devices).

Here, McAfee’s Chief Scientist, Raj Samani, suggested that such instances would grow given the rising numbers of IoT devices in homes and businesses, and given their unsecured nature.

And he was largely right, at least insofar as McAfee’s own Threats Report from August revealed a 29% increase in crypto-jacking between Q4 2018 and Q1 2019 alone, although this wasn’t solely the result of an increase in IoT-targeted attacks.

Exchange attacks and data thefts

“I suspect that exchanges will continue getting hacked as they have been for the last 8 years,” predicts Bitcoin developer Jimmy Song, speaking with Cryptonews.com.

Other commentators are more forthright about predicting an actual increase in hacks and attacks next year. Charles Phan, Chief Technology Officer of cryptocurrency derivatives exchange Interdax, expects that this will also include “crypto-related platforms,” such as wallets.

While thefts and frauds fell in Q3, annual total so far in 2019…

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