The great advantage that crypto currencies offer over any other type of money or financial asset is their security. For, once a transaction has been executed and included in the Blockchain, it is impossible for anyone to manipulate the records. However, this does not mean that there are no cyber attacks that can break our security in the crypto world. Therefore, today we will talk about the Dusting attacks on Bitcoin and how to prevent them.
Crypto currencies and security Are they really unhackable?
What is a Dusting attack?
In spite of the great security that crypto world offers to our transactions. The truth is that the crypto world is not immune to cyber attacks. In fact, from time to time, news of attacks against exchanges with low security levels often comes to light. This allows hackers to enter your system and steal your money.
One such risk is Dusting attacks, a relatively new type of cyber attack within the crypto world. They target not the theft of the user’s crypto currency. They are aimed at breaking the privacy that Bitcoin offers to those who use its Blockchain. In order to find out the true identity of the people behind the BTC addresses.
Thus, Dusting consists of sending a small amount of tokens, (known as dust because of how small it is) from a crypt currency like Bitcoin to the target address. The route followed by this transaction is then traced, so that the identity of the person or organization behind the BTC address can be obtained.
In the case of Bitcoin, the smallest amount that currently exists is 1 Satoshi or 0.00000001 BTC. Hackers use such small numbers, because over time they’ve noticed that Bitcoin address owners don’t tend to pay much attention to these types of money transfers. So they can carry out the Dusting attack without the user even noticing.
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How to protect ourselves from an attack in Bitcoin
Of course, the risk of a Dusting attack isn’t just that our identity will be discovered. It’s that it can lead to more complicated phishing attacks by cybercriminals, which can result in theft or extortion against the owners of Bitcoin addresses.
Fortunately, since 2018, when there were a number of Dusting attacks against users of the Samourai wallet, more has been learned about these types of attacks. Including methods to protect ourselves from them. Well, since they perform a series of complicated operations to track the „dust“ funds they send us. If we don’t use those Bitcoin Circuit, there’s no way they can trace our identity.
Thus, the best security recommendation that can be made to avoid Dusting attacks, is to be aware of the money transfers that are made to us. And if we identify any of them as a Dusting attack, it’s important not to mobilize that money.
Also, take advantage of options such as those offered by wallets such as Samourai, which can mark these funds as suspicious and freeze them for the user. Thus preventing our identity from becoming known to cybercriminals.