{"id":26273,"date":"2021-07-06T19:28:49","date_gmt":"2021-07-06T16:28:49","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=26273"},"modified":"2026-03-27T22:48:39","modified_gmt":"2026-03-27T19:48:39","slug":"kaspersky-delves-into-trends-and-risks-surrounding-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/kaspersky-delves-into-trends-and-risks-surrounding-cryptocurrencies\/","title":{"rendered":"Kaspersky delves into trends and risks surrounding cryptocurrencies"},"content":{"rendered":"\n

Technology has significantly impacted lives and economies over the last few years and is now giving rise to new modes of transactions and even currencies. New modes of electronic payment are becoming increasingly popular, and cryptocurrencies have captured the imagination and attention of individuals, investors, the banking industry, and Governments the world over. <\/p>\n\n\n\n

According to a new update to the International Data Corporation (IDC<\/a>)\u00a0Worldwide Blockchain Spending Guide<\/a>, blockchain spending will continue to grow at a robust pace throughout the forecast period with a five-year compound annual growth rate (CAGR) of 46.4%, reaching a total of nearly $17.9 billion in 2024.<\/p>\n\n\n\n

In this environment, not all attention to this new technology is good. Arshad Khan, Co-founder and CEO at Arabian Bourse, shares his insights and expert recommendations on the need to stay vigilant whilst engaging with any sort of virtual asset activities. As a Multilateral Trading Facility (MTF) and Custodian based in Abu Dhabi Global Market (ADGM), Arabian Bourse Limited has received initial approval from Financial Services Regulatory Authority of ADGM in its process to becoming the fully regulated, virtual asset MTF and custodian. <\/p>\n\n\n\n

According to Kaspersky\u2019s recent report on\u00a0financial threats in 2021<\/a>\u00a0which highlights how this year, many financial cybercriminals are likely to target Bitcoin more often, while other cybercriminals will switch to transit cryptocurrencies when demanding payment from victims for enhanced privacy.\u00a0<\/p>\n\n\n\n

As cybersecurity experts continue to formulate more secure solutions for centralized exchange models that offer a level of security that individual investors can\u2019t match, Arshad Khan commented saying, \u201cIt is essential for clients to perform their role as well in maintaining the security of their accounts and assets. This includes preserving the confidentiality of their passwords and activating two-factor authentication on their accounts. Choosing difficult passwords with a diverse mix of characters is also advisable for clients. Whitelisting their wallet accounts is also another strong security layer which is recommended for their exchange accounts. Moreover, to receive and send their assets, clients must utilize the correct wallet address and double-check their transactions before confirmation, to avoid losing their assets in the given transactions. Before opening an account on a platform, clients should also perform due diligence on the exchange to ensure its reliability and trustworthiness\u201d.<\/p>\n\n\n\n

Maher Yamout, Senior Security Researcher at Kaspersky said, \u201cCryptocurrency has come a long way in a relatively short span of time, and such rapid, unregulated growth has meant that most people and institutions are learning as they go. As much as it is tempting to equate today\u2019s environment to the Gold Rush of yesteryears, the fact that it is digital and distributed means that it is entirely democratized in terms of both opportunities and risks. At Kaspersky, we have tagged some of the potential weak points, hazards, and facts to consider, together with some tips to stay safe. Like any financial product will warn you, investment is subject to risk, so it falls on each one of us to stay secured.\u201d<\/p>\n\n\n\n

Kaspersky\u2019s checklist of the risks associated with cryptocurrencies follow: <\/p>\n\n\n\n