while overall cryptocurrency is a good idea – because it allows decentralized money transactions.

… it is not cool that

  • your name
  • postal code
  • birth date
  • phone number

… are enough info for social engineering hackers to set a new password to your account or initiate a SIM phone number swap and steal millions and millions in cryptocurrency!

social engineering centers on:

  • Amazon and Co say: “customer is king” – well yes – but changing passwords by people that you can not properly verify / authenticate is a horror scenario.
  • BigData and information-over-sharing – the more information hackers have about you
    • the easier they can lure phone-support-staff of financial and other companies into changing your password
  • Banks push to abolish cash because – private banks unlike the FED are only allowed to create DIGITAL book money not cash this is called.
    • Kumhof: financing through money creation – Recent model intermediation of loan-able funds theory misrepresents how credit is created in the real worldloans -> deposits -> reserves, not the other way around.
  • make a “happy password changing day” where you change all your passwords once a year
    • multi layer passwords:
      • one password for important, one for not-so-important and one for very important stuff




In Japan arrested a teenager who stole $130 million in cryptocurrency

Japanese authorities had charged 18-year-old resident of the city of Utsunomiya accused of hacking into the social network Monappy and Monacoin wallet and stealing cryptocurrency in the amount of 15 million yen ($130 million). This is the first occasion in Japanese history when the offender was indicted on the burglary associated with the cryptocurrency.

auto translated from src: https://exploit.in/2019/12284/

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