30 Jun '16, 2pm

Why Smartphone Wallets Are Insecure, And How to Protect Your Bitcoin

Why Smartphone Wallets Are Insecure, And How to Protect Your Bitcoin

From the theft of $230,000 from ShapeShift to the DAO hack , large amounts of cryptocurrency can be stolen through security breaches if the owner does not take the necessary safety precautions. Of particular vulnerability are mobile devices, which can be subject to a host of attacks through apps that are spyware in disguise. CoinTelegraph interviewed Gary Miliefsky , CEO of cyber-security firm SnoopWall, about the security risks facing mobile device Bitcoin wallet users. CoinTelegraph: Bitcoin smartphone wallets: how secure are they? Gary Miliefsky: Smartphone wallets are completely insecure. There have been over 500 million downloads of emoji keyboards: keyloggers, spyware disguised as friendly emoticon keyboards. When you startup your smartphone wallet the first time, you may enter bitcoin info or add username/password credentials. These are shipped off to criminal serve...

Full article: http://cointelegraph.com/news/why-smartphone-wallets-are-...

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