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Cryptocurrency Wallets for Children Are a New Market Ready to Be Explored

The world of finance as we know it is changing, which could have some unexpected consequences. Now is a good time to evaluate whether young children need a piggy bank or a cryptocurrency wallet. It seems the latter option is growing more popular, although it is far from a mainstream trend.

The Cryptocurrency Wallet for Children

It is anything but easy to introduce new adults to cryptocurrency in this day and age. Starting a conversation about Bitcoin or altcoins is not all that easy, even though it certainly has a lot of potential. At the same time, one has to admit this is by far one of the most intriguing financial topics as of right now. It is even a somewhat hot topic among children and young adults.

More specifically, there is growing interest in making cryptocurrencies more accessible to children. This does not mean underage individuals will have an easier time buying Bitcoin and altcoins, but giving them a cryptocurrency wallet at an early stage can certainly introduce some positive changes along the way. Starting a meaningful conversation will always remain a bit difficult, however.

Pigzbe, a relatively new startup, claims to have the answer to this problem. More specifically, they’re targeting children with their family-friendly cryptocurrency which lets anyone collect tokens. It teaches children about the principles of cryptocurrencies and other forms of money, while giving families the chance to become microfinance networks of their own.

Although this particular company doesn’t pay much attention to existing cryptocurrencies, the concept still holds a lot of merit. Parents can directly reward children with the “21st-century version of money” and help them practice proper financial habits. The Wollo token is the native currency of this ecosystem, yet it’s probably a matter of time until we see a Bitcoin-based version as well.

It is evident ventures like these can be very successful in the long run. Bringing cryptocurrency to the masses will not be easy, but involving parents and their children is definitely the right way to go. If a similar venture were ever created for Bitcoin or any of the top altcoins, interesting things would be bound to happen.

This will certainly bring a lot of interesting changes to the world of cryptocurrency and finance. There is a growing demand for cryptocurrency as of right now, and even children are not immune to this paradigm shift. While it remains to be seen if Wollo will ever gain any traction, there is no denying that Bitcoin and Ethereum will succeed in the long run.

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The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users

The Jigsaw malware is back and it is ready to steal Bitcoin from consumers once again. Jigsaw is Back to Scare Bitcoin Users ZDNet recently reported that the “Jigsaw” ransomware has recently been revised by hackers to steal Bitcoin from unsuspecting users through a “simple-but-effective trick.” According to the technology news source, Jigsaw first appeared in the cryptocurrency scene in April 2016 as a form of ransomware, holding the files and information of users hostage until a ransom of Bitcoin was paid. The reason why it is named Jigsaw is due to the fact that the piece of code displayed the likeness of the Saw horror film villain. However, with this most recent revision, the ransomware has been re-purposed to steal Bitcoin in a fairly innovative and non-intrusive manner, modifying the addresses inputted by a user. Once the piece of malware alters an address, the Bitcoin payment will then be redirected to the hacker’s wallet, resulting in lost crypto for the victim. Jigsaw, or “BitcoinStealer,” as it is known by references in the code of the program, accomplishes this by altering Bitcoin addresses in someone’s clipboard, or the area where copied pieces of text lie. However, the ingenuity of the program does not stop there, as BitcoinStealer is able to the intended address of the payment to one that looks very similar, using a program such as VanityGen to trick the user into thinking the hacker’s address and the original address are one and the same. Image Courtesy of Fortinet This ingenuity has proven to be rather successful, with researchers from Fortinet, who first broke the news about Jigsaw, saying that cyber attacks utilizing this method have garnered over 8.4 Bitcoin, or approximately $61,000 at current market prices. Fortinet also discovered that there were many similar projects for “modifying cryptocurrency addresses” being advertised on dark web forum sites, presumably by hackers enlisting the same method of attack. Crypto-Related Cybercrime is Still Prevalent Despite Price Decline However, this method of cybercrime, which the cyber researchers called the “clipboard-substitution malware family,” was not mentioned in a recent threat report from the cybersecurity firm Malwarebytes. According to the report released on July 17th, ransomware and cryptojacking were by far the primary sources of crypto-related cybercrime, with “cryptominers continuing to dominate” the threat landscape. Despite starting to slow down due to declining cryptocurrency prices and mining profits, the Cybercrime Tactics & Techniques Report for Q2 2018 still found that cryptominers are as prevalent as ever, noting: “Cryptomining detections are slowly declining; however, as one of the top two detections for both businesses and consumers, they still dominate the threat landscape” Nonetheless, moving into Q3 of 2018, Malwarebytes expects for cryptojacking cases to slowly fade, as cybercriminals follow the industries where they can make the biggest profits. The security firm wrote: “Ultimately, many criminals aren’t getting the return on investment (ROI) from cryptomining they were expecting. The cryptojacking craze will likely stabilize as it follows market trends in cryptocurrency… Until changes in the cryptocurrency market cause a spike or swift downturn, expect to see cryptomining hum along at its current slower pace into Q3.” It is likely that the propagation of clipboard-substitutions will become a growing threat for cryptocurrency users moving into the future, as it is a much more reliable, non-intrusive and profitable way for hackers to get their hand on consumer crypto. So watch out, double, triple or even quadruple check the address when you send your next Bitcoin transaction. Featured image from Shutterstock. The post The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users appeared first on NewsBTC.

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