Bitcoin Security Tricks

Use a Reliable Exchange Service

Web wallets are risky as hackers use them to gain unauthorized access to people’s money. If you really have to use one, make sure you use a reliable exchange service. Once the exchange transaction happens, make sure you transfer the coins to your own wallet right away.

Don’t allow open access to your Wallet

According to Joe Steward, you should not allow open access to your Bitcoin wallets. If an employee accesses your wallet and makes a transfer to a wallet they have access to, your money will be gone. To deal with this problem, you can use sub-wallets.

Use Separate Wallets

Often, Bitcoin wallets that are connected to the web all the time are prone to network-oriented attacks. So, it’s a good idea to use offline wallets instead. Actually, what you need to do is keep your digital money in the offline wallets. As soon as you get a big amount of money in your online wallet, make sure you transfer it to your offline wallet as soon as possible.

Store Your Keys Offline

It’s a good idea to store your private keys on an offline computer, which will help you keep hackers and malware at arm’s length. After all, you want to keep the system as secure as possible.

Use a Dedicated Hardware

It’s better if you use a dedicated USB key to transfer data between two computers. Again, it will protect your data from potential viruses and hackers.

Use Linux for added Security

If you are looking for the best way to move data between two computers, you may want to use a USB drive. For this purpose, the most secure system is Linux as it is very good at fighting USB-based threats.

Create Backups

You will lose your Bitcoin or wallet if you end up damaging your computer. So, it’s a good idea to create a backup of your wallet someone else. Ideally, you may want to make several backups and store them in different locations.

Bitcoin Ransom

Launches an initial DDoS attack (ranging from a few minutes to a few hours) to prove the hacker is able to compromise the website of the victim.

Demands payment via Bitcoin while suggesting they are actually helping the site by pointing out their vulnerability to DdoS

Threatens more virulent attacks in the future

Threatens a higher ransom as the attacks progress (pay up now or pay more later)

Unprotected sites can be taken down by these attacks. A recent study by Arbor Networks concluded that a vast majority of DD4BCs actual attacks have been UDP Amplification attacks, exploiting vulnerable UDP Protocols such as NTP and SSDP. In the spectrum of cyber-attacks, UDP flooding via botnet is a relatively simple, blunt attack that simply overwhelms a network with unwanted UDP traffic. These attacks are not technically complex and are made easier with rented botnets, booters, and scripts.

The typical pattern for the DD4BC gang is to launch DDoS attacks targeting layer 3 and 4, but if this does not have the desired effect, they will/can move it to layer 7, with various types of loopback attacks with post/get requests. The initial attack typically lies on a scale between 10-20GBps. This is rather massive, but often not even close to the real threat.

If a company fails to meet their requests, and if that company does not migrate this attack through various anti-DDoS services, the group will typically move on after 24 hours of a sustained attack. But you should not count on this pattern to manage your cyber security tactics.

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