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Over 90% of mobile cryptocurrency apps may be ‘in trouble,’ researchers say

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Hold on to your Bitcoins! With the rising popularity of electronic currency, security researchers are sounding the alarm over mobile apps designed to store, process and trade crypto currencies.

Roughly 90% of a pool of 2,000 cryptocurrency mobile apps in the Finance section of the Google Play app store pose security risks, experts warn.

Currently trading at more than $11,000 apiece, the controversial Bitcoin has spurred tremendous interest in cryptocurrency – a virtual form of currency based on cryptographic algorithms.

Dozens of cryptocurrencies are available (Ethereum, Monero, Zcash, etc.), each with its own market cap – totaling a whopping $328,331,711,597.

“Obviously, cybercriminals could not pass on such an outstanding opportunity and are aggressively targeting all possible stakeholders of the emerging digital currency market,” according to High-Tech Bridge researchers.

Statistically, a new cryptocurrency gets compromised every week, inflicting millions in losses on those...(continued)

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