Bitcoin got criticize by sec chair(Gary Gensler), revealing the illicit and ransomware in crypto currency

Despite the tremendous marks that crypto currency as made so far,there seems to be some loopholes in the way the bitcoin is being run,there has been several report of some Crypto currency companies going into bankruptcy by fraud and other illegal activities due to lack of enough security.

Source

For anything to thrive without any form of obstruction,there has to be a level of togetherness,it no more a news about the astrocity happening in the industry,which causes companies to fold up and also some bitcoin traders getting scammed on daily basis.

In an interview with the sec chair (Gary Gensler),he pointed out that crypto is full with fraudulent act and manipulation,he emphasized more on bitcoin being in the forefront of the illegal act,furthermore,he stated that bitcoin is the leading market share in ransomware,this are one of the problems that needs to be resolved in the market space.

What is ransomware
It is a form of cyberscamming propagated by internet hackers,through the use of a software(malware), hackers tends to disrupt and gain access to an organization computer system,using this as a leverage to ask for a certain amount of ransom,many companies has been victimized,cause them to go bankrupt.

CONCLUSION
The scamming trend has been ongoing for some time now and the only to avoid been a victim is to be extra careful with every transaction made online,cross checking the links to click on,having a security monitoring.

THANKS FOR CHECKING OUT MY POST AND HAVE A GREAT DAY.

Posted Using InLeo Alpha