Data breach: Why is it a big threat for crypto traders, and how to prevent it
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Thousands of users fall victim to data breaches every day. That’s why now it’s more important than ever to understand what data breaches are, how they happen, and how to prevent them.
Most websites store user data in some shape or form. When they experience a data breach, controlling the spread of the compromised data becomes very difficult. The effects of a data breach can be devastating, with permanently damaged online reputation or even identity theft.
For crypto traders, a password breach might mean a substantial financial loss. That’s why it’s essential to understand more about data breaches and how to protect your passwords – and your money.
Data breaches can occur in several ways and for many reasons. A malicious party outside the organization is typically to blame – but someone within an organization can also cause them.
When a data breach happens within the organization, it’s often the result of an unintentional accident, human error, or infrastructural weaknesses. However, they can also be insider jobs – a data breach deliberately carried out by someone within the company.
When a data breach happens due to a malicious party targeting the organization, it’s known as a deliberate attack. These deliberate attacks may involve techniques like ransomware, phishing, social engineering tactics, SQL injection, or brute-force attacks.
Unsurprisingly, stolen or leaked credentials are most commonly responsible for data breaches.
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