Is It Safe? The Cryptocurrency Mystery

Cryptocurrency Firms Regularly Lose Codes and Money

by TRNN

February 7, 2019

Bitcoins, cryptocurrency, are all a mystery to me and to many others. Are they real money? Why should I – why should that be the concern of hackers? One group known as a group called Alpha – a huge group apparently, as one article put it – quoting an organization called Chain Analysis – “is driven by non-monetary goals and means.” But a second, much smaller hacking group that is known as Beta, is focused only on the money. And they are both brazen about it, apparently.

Add to that, as reported in this Fortune article recently, Gerald Cotten, who owned Quadriga died in December. The company has $190 million in cryptocurrency stores inside the company and its computers, as the article points out, has roughly 26,000 bitcoin, 11,000 bitcoin cash, 200,000 LikeCoin, over 400,000 Ether, and other cryptos.

Recent developments in the cryptocurrency world highlight the dangers of trading in this type of “coin.” But how important is cryptocurrency to the financial world and why should we care? We discuss the issue with white collar criminologist Bill Black