Ever wondered if cryptocurrency is the unsung hero in the realm of cybersecurity? It's like the quiet friend who always has your back. Cryptocurrencies, with their decentralized nature, seem to be throwing a subtle shade at the vulnerabilities of traditional financial systems. No big banks holding all the keys here! Just the distributed ledger silently doing its thing. It's like having a covert agent safeguarding your transactions.
I would rather say that crypto currency is the biggest friend of the cyber criminals. Majority of the international money heists are done using cryptocurrency. Exactly due to the decentralized nature, it is next to impossible to recover stolen funds. All ransomware attackers take ransomes in cryptocurrencies. So decentralized nature of a cryptocurrency comes with multiple negative points as well.
While cryptos are more secured, it also comes with anonymity. Which is greatly helping the cyber criminals to siphon their funds to an unknown location. What is your thought about that?