Demand for blockchain technology continues to grow among some of the most established industries worldwide, including the government, finance, retail, health care, and automotive sectors. In fact, nearly every industry has invested in, acquired or implemented blockchain in some capacity. Yet even as the blockchain technology market is expected to reach $9.6 billion by 2024, McAfee sees tremendous potential for cybersecurity risks that could threaten this revolutionary technology’s rapid growth and its quickly expanding pool of adopters. The company points to security events associated with cryptocurrencies, the area where blockchain technology has been most extensively implemented and used at large scale by millions of people.
According to the McAfee report, bad actors have aggressively sought to take advantage of the rapid adoption of cryptocurrencies and the early adopters who use them. McAfee sees this activity in four key attack vectors: phishing or fraud schemes, malware, implementation exploits, and technology vulnerabilities. Many attacks spanning these categories apply both old and new cybercrime techniques and have proven highly lucrative for cybercriminals.
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