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Cryptocurrency and cybersecurity: The implications

Thursday, November 30, 2017 @ 8:32 AM | By Sharon Bauer and Imran Ahmad

This is part two of a two-part series.

Similar to the way money is stored in a bank, cryptocurrency can be stored in forms of “cryptocurrency wallets” where sensitive information is encrypted and securely stored. If an owner of a bitcoin uses an online wallet, also known as an “exchange,” the exchange provider stores the encrypted information on behalf of the owner. This is arguably the most popular way to store cryptocurrency.


Despite this popular method of storing cryptocurrency, exchanges are considered the weakest link...