How to avoid constant hacking on crypto currency?

2018-05-23

Microsoft and Google Internet security researcher published a new chip loophole called ‘Speculative Store Bypass’ on this Monday (21st, May) , foreign media reported.

By report, this is a variant of two loopholes in CPU, Meltdown and Spectre, which published by Google security team Project Zero.

Variant 4 is the same type as two loopholes discovered before. This loophole enable hackers to read the password and other sensitive data on the chip. In a security report published by Microsoft, this variant of loophole make hackers have chance to implant attack script in JavaScript of Browser.

This loophole involves CPUs of Intel in nearly 10 years. Many iPhones, Android equipment and PCs are also influenced. Almost all electronic equipment are victims.

Hackers are good at using and attacking such unfixed loophole. For example, WannaCry ransomware which resulted in serious impacts had been using a loophole of Microsoft.

Worse still, crypto currency hackings are becoming more frequently in these days.

7th, March, 2018, world first-class exchange Binance was attacked by hackers and as a result of that, price of Bitcoin has depreciated 10%, 17 billion of markets value just vanished.

After that, an ERC20 protocol security loophole of BEC(Beauty Chain) was exposed in 22th, April, attacker could get infinitely tokens by a BUG. Price of BEC almost become zero after this incidents.

Amateurs of crypto currency have a lot of compliments to such situation, but no one could come up with a solution. Recently, there are many voices about develop a product that can make up to people if their digital wallet was attacked in insChain Telegram group.

InsChain has been paying lots of attention to security of crypto currency exchanging. Crypto currency have not been approved by most countries yet. There is almost no supervising institutions and legal constraint. The whole industry is still developing and there is no uniform standards when it comes to defending hackers.

However, there is no need to be panic. Intel official said that there is no hackers are using this loophole to attack, and mark variant 4 as medium level risk, since many relevant defects to this loophole were fixed in security patches before.

We have reason to believe that people would take information security more serious and such hacker incidents would not influence so much people any more.

For the current situation that the incomplete cryptocurrency market, the happening of hacker attacks and so on, do you have any good advice? Welcome to leave a message to us!

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