How hackers have defamed payments in crypto
Along with investors, hackers also understand the potentials of crypto. There have been countless incidents of crypto wallet hacking over the past decade. A comprehensive history of crypto attacks can be seen in the graph below :
Due to several hacking attacks, crypto’s reputation was degraded and people considered it unsafe to invest in it. Hackers were always lurking around using phishing, malware, and other strategies, to extract crypto from people. In the year 2020, about 122 major attacks were recorded, which presently amount to 3.78 billion USD. Right now, people fear investing in crypto, thinking that it’s not safe enough.
Factors causing hack of payment gateways
There are many influential factors that pin-point this fear of crypto investment in people. These factors are responsible for people losing their crypto due to hacking of payment gateways.
The importance of a strongly secured payment gateway cannot be stressed. Hackers always target the weakest gateways and exchanges. Therefore,it is necessary that you learn to rate crypto exchange to find the weak points in your choices. In 2019, around 133 crypto attacks were successfully implemented.
There are countless organizations like Mt. Gox, which succumbs to hackers after repeatedly being attacked by them. The reason was weak encryption mechanisms. Such organizations could not keep up with the knowledge and skills of these hackers.
In the year 2013, the Bitcoin Foundation had found a bug in the PRNG of the network. Although within 2 days, a fix was implemented, the damage was huge. Such damages exist because there is no mechanism that can detect fraud, bugs,and malware in the network. If one needs to control the hacking of crypto payment gateways, it is important that they detect the presence of such foreign materials instantly.
How does Aurix secure these payments?
Brought into the crypto world by Majed Mohsen in 2016, Aurix provides the solutions to all the above-mentioned situations under one roof, Aurix Ecosystem. There are countless advantages of the Aurix Ecosystem wherein lies the solutions to every query that a person has regarding crypto.
Aurix is a self-reliant Ecosystem, i.e., it doesn’t need a third party to enhance its security. Aurix developers have researched deep into the attacks that have been initiated by hackers and how they have been able to pull off scams. Using such knowledge, the defense of the Ecosystem was built.
The encryption algorithms and walls designed by the developers have a lot of potential. No user information can be taken out of the platform without the authorization of the user itself. There is no chance that the private keys of the user are supplied to someone else other than the user. Every information of the user is encrypted and merged with the Aurix Ecosystem, which is self-reliant and so, it is impossible for any third party to gain access.
In case a hacker comes to attack and disguise like a user, chances are he or she will try to acquire the user’s assets or his or her private keys. Therefore, it is nearly impossible for any hacker to break through Aurix’s encryption algorithm, and even if the hacker tried so hard to do so, the system will be notified, and immediate action will be taken to block, quarantine, and eliminate the threat. Therefore, Aurix has the capability that many organizations don’t.
Aurix Ecosystem is built on firm principles of self-reliance and strong encryption technology. The changes of the system getting compromised are next to zero because the entire system is built on the principles of Decentralized Finance. It has been ensured that for a hacker to break into the system, he or she will need the strength that currently doesn’t exist. As time passes, Aurix updates its security features to ensure that you don’t lose your money or assets while you enjoy a smooth, and stress-free crypto trading experience.