Talking In Bits- 006 - Cyber Security Expert Nik Kraljevic

This week Ben & I sit down with Cyber Security Expert Nik Kraljevic.

We talk about famous Bitcoin hacks in the past and how to avoid them.

We talk best practices an our opinions on smart contracts.

Lot's of value in this episode.

Find Nik and the show notes here:

Links:

- Instagram: @kraljevic_n1or kraljevic.technology

- Twitter: https://twitter.com/Security_Sleuth

- Pleme: https://pleme.app/

- Where you can find me: https://allmylinks.com/nik-kraljevic

Hardware wallet resources

· https://bitcoin.org/en/secure-your-wallet#online

· Trezor

· Ledger

· Edge Wallet

· Exodus wallet

· Investopedia -> Bitcoin

· https://cryptonews.com/guides/top-10-bitcoin-security-tips.htm

· https://bitcoinsecurity.guide/

- https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4



Future Bitcoin Security Threats

· When an individual or a group of individuals owns more than 50% of the computing power within the bitcoin network, the network is opened up to the possibility of a 51% attack – the advantage in computing power can be used to fork the main transaction blockchain and commit fraud, including the double spending discussed earlier.

· Theft from air gapped PC’s (Hardware implant to transmit or steal private keys in cold storage.)

· Quantum computers impending arrival estimates are for keys to be broken in 8 hours and possibly 30 mins to figure out a public key / private pair

Threats

· Phishing (Stealing your bitcoin wallet details or exchange account details)

· Spoofing (Where an actor submits fake orders to drive up the price of bitcoin)

· Malware (Stealing Bitcoins or wallet details, creating malware to lookout for bitcoin)

· Fake Mining Software (Fake mining software or code that skims your bitcoin during mining.)

· DOS of exchanges / periphery services.

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