There is a lot of negative attention in the press when an incident occurs in the bitcoin world. The attention is deserved because people new to bitcoin should be aware of the risks
Not every bitcoin exchange has the same level of security, so when selecting the bitcoin exchange and bitcoin wallet to fund your account, then really do some due diligence on the highly rated companies.
Unfortunately, we live in a day and age of cyber attacks and cyber threats. All activity online, particularly if it relates to money, is at risk of loss. Cyber criminals target traditional banks and credit card companies, but we still have some faith and trust in those institutions because the leaders are aware of the threat.
The bitcoin community is no different. Coindesk, the well-respected online news source of the bitcoin community, addressed the issue of bitcoin security in the online gambling sector. As Mike Hadjuk, an entrepreneur that created a service to allow players to view each other through live webcams is working to constantly improve safety and security.
“Nobody is impermeable. Even the Pentagon can get hacked. To me that’s our number one concern,” he said.
Bryan Micon, a founder of an online bitcoin gambling site is very cognizant of security, saying:
“It’s about keeping the bitcoin safe. That’s not just about securing cold storage – it goes beyond that. It’s about looking after issues such as automated cash-outs, to help sites scale without allowing criminals to take advantage of poorly configured scripts.”