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Consumers, businesses and governments are finding new ways to use cryptocurrency, but a recent string of cyber-attacks has highlighted security risks and shortcomings associated with crypto. Analyse.

Topic: basics of cyber security;

6. Consumers, businesses and governments are finding new ways to use cryptocurrency, but a recent string of cyber-attacks has highlighted security risks and shortcomings associated with crypto. Analyse. (250 words)

Difficulty level: Moderate

Reference: Indian Express

Why the question:

Cryptojacking’ attacks on computer systems have gone up by 30% to 66.7 million in the first half of 2022 compared to the first half of last year, according to a report by SonicWall, a US-based cybersecurity firm.

Key Demand of the question:

To write about the cyber security issues associated with crytpo currency and ways to tackle them.

Structure of the answer:

Introduction: 

Begin by giving context regarding the growth of crypto.

Body:

First, elaborate about the manner and ways vishing affects the cybersecurity of crypto currency. Cite examples to substantiate. Write about its impact.

Next, write about the measures that are needed to prevent these attacks in the country.

Conclusion:

Conclude by writing a way forward.