Crypto Users Are Unaware of Related Cybercrimes: Kaspersky

According to a recent study, while half of the consumers are victims 

Of cryptocurrency fraud, nearly one-fourth are unaware of the dangers.

Just 25% of people surveyed felt well-informed about potential cryptocurrency cyber threats, while 23% had no knowledge at all, according to cybersecurity company Kaspersky.

The report also found that 40% of cryptocurrency owners did not think the current protection methods for cryptocurrencies were effective and that almost half (49%) of the respondents had been negatively affected by cryptocurrency crime in some way.

"This research highlighted the importance of raising public awareness and providing more information about the problems that cryptocurrency owners may face. People must take the necessary precautions to protect themselves from cyber attacks as the usage of digital assets continues to increase "said Vitaly Kamluk, head of Kaspersky's Global Research and Analysis Team's APAC division.

Additionally, 27% and 26% of respondents, respectively, named cyber dangers including scams and virtual theft as their main worries regarding cryptocurrency use. These threats were among the most commonly reported negative elements of cryptocurrency use.

Nearly 38% of respondents, including those who do not own cryptocurrencies, were not aware that they could be the target of crypto attacks, according to the survey.

According to the report, 44% believe banks should regulate cryptocurrencies while 54% favor autonomous authorities managing the sector.

Fake apps (16% and 15%, respectively) and cryptocurrency investment fraud (23% and 15%, respectively) are serious issues in South Africa and the APAC region. In contrast, blackmail attacks in Europe (13%) are an issue. In these scams, the victim is threatened with having their browsing history on adult websites revealed unless they provide cryptocurrencies or supply private keys.

While sharing the reports with the masses, Kaspersky experts also offer the following that can help the stakeholders to secure their crypto assets:

1. Use unique and strong passwords

2. Stay away from phishing attacks 

3. Dont share your private keys 

4. Educate yourself 

5. Use security solutions 

These are some of the steps, if followed religiously can increase the security of your crypto portfolio manifolds. The reports released by Kaspersky could be an eye-opener for the industry and push it towards creating a more secure ecosystem. 

Also, Read - Crypto Trading is Now a Curable Addiction in a Spanish Rehab Center