Cryptocurrencies have been on the rise as of late, and that means that they are starting to become more mainstream. A lot of the original core users have been the types that want to keep things quiet, but the general public is starting to get involved. However, that also brings with it a whole host of new issues to deal with. One of the most common problems that people are running into is hacking. You need to make sure that you are taking the right steps to minimize this as much as possible so that you can keep your coins safe and secure. For more help on SMM, join SMM training course in Mumbai
As a business owner, you want to ensure that your online transactions are secure and that your customers can safely pay for your products and services. However, it’s not so easy to achieve. There are thousands of counterfeit payment gateways on the Internet that can be easily hacked, resulting in millions of dollars of loss. The best way to protect yourself against payment gateway hacking is to know the current vulnerabilities and how to prevent them. In this article, I will discuss the vulnerabilities and provide tips to prevent them.
How hackers denigrated payments in cryptocurrencies
In addition to investors, hackers also understand the potential of cryptocurrencies. Over the past decade, there have been numerous cases of hacked cryptocurrency wallets. The full history of cryptographic attacks is shown in the chart below:
Due to several hacks, the reputation of cryptocurrencies deteriorated and people found it dangerous to invest in them. Hackers have always been on the hunt, using phishing, malware and other strategies to get their hands on cryptocurrencies. In 2020, there were about 122 major attacks, with a current value of $3.78 billion. Right now, people are afraid to invest in cryptocurrencies because they think they are not secure enough.
Factors leading to breaches of payment gateways
There are many factors that make people fear investing in cryptocurrency. These factors are the reason why people lose their cryptocurrencies to payment gateway hacks.
The importance of a secure payment gateway cannot be overstated. Hackers always choose the weakest gateways and switches. Therefore, you need to learn how to evaluate crypto-currency exchanges to find the weaknesses in your selection. In 2019, approximately 133 cryptocurrency attacks were successfully executed.
There are numerous organizations like Mt. Gox, which succumbed to hacking after repeated attacks on its part. The reason was a weak encryption mechanism. These organisations were no match for the knowledge and skills of these hackers.
In 2013, the Bitcoin Foundation discovered a flaw in the network’s PRNG. Although the patch was done in two days, the damage was huge. This damage exists because there is no mechanism to detect fraud, bugs and malware on the network. To control hacks of cryptocurrency payment gateways, it is important that they detect the presence of such foreign material immediately.
How does Aurix secure these payments?
Aurix, which Majed Mohsen introduced to the cryptocurrency world in 2016, offers solutions for all of the above under one roof – the Aurix ecosystem. The Aurix ecosystem has countless benefits, it contains solutions to all the problems one encounters with cryptocurrencies.
Aurix is a self-sustaining ecosystem, meaning it doesn’t need a third party to enforce its security. The Aurix developers have been studying in detail the hackers’ attacks and how they set up their scams. Thanks to this knowledge, the protection of ecosystems has become a reality.
The encryption algorithms and walls developed by the developers have great potential. No user information can be removed from the platform without the consent of the user. There is no chance that the user’s private keys will be shared with anyone other than the user. Each user’s information is encrypted and merged with the Aurix ecosystem, which is autonomous so that third parties cannot access it.
When a hacker attacks a user and pretends to be a user, it is very likely that he or she is trying to take away the user’s assets or private keys. This makes it virtually impossible to crack Aurix’s encryption algorithm, and even if a hacker attempts this, the system is alerted and immediate action is taken to block, quarantine and eliminate the threat. Aurix therefore has possibilities that many organisations do not have.
The Aurix ecosystem is built on the solid principles of self-sufficiency and strong encryption technology. The chances of the system being hacked are virtually nil, as the entire system is based on the principles of decentralized funding. It was ensured that a hacker would need power that is not currently available to break into the system. Over time, Aurix updates its security features to ensure you don’t lose your money or assets while enjoying a smooth and stress-free crypto currency trading experience.