Public Wi-Fi usages have always been considered as the best way to expose you to the security risks in one way or the other. This is the sole reason the experts do not go for the public Wi-Fi usages. But the non-experts always fall for these kinds of traps where they can use something without paying anything. These may a times are the traps set by the hackers.
In the latest case, an unsuspecting 36 year old man from Austria got his device compromised as soon as he connected it to the Public Wi-Fi of a restaurant. He was unaware of the fact that the internet was hosted by a hacker nearby. After he connected his device with the Wi-Fi and logged in to his digital wallet account, immediately a sum of $117,000 Bitcoin was deducted from his account. The authorities, who were investigating the case of the Bitcoin theft, stated that the victim’s device was compromised way before it was logged in the Public Wi-Fi network. A total of 100,000 Euros were looted from the victim.
Lately, digital currencies that are the cryptocurrencies like Bitcoin and Ethereum have gained much popularity amongst the masses due to the reason that the cryptocurrencies provides total anonymity to the users. People are not at all answerable to the government or their banks in case of a transaction done and help them have a complete liberty to transact. Currencies that are not regulated by the government provide the users to have their anonymity maintained and make it easier for them to buy things either on the internet or in the real world. At the same time, there is a huge scope of getting your digital accounts hacked very easily and looted due to the fact that these currencies are not governed by the government or any other similar body.