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Author: Admin | 2025-04-28
Hackers and ransomware groups have benefitted immensely by leveraging blockchain and cryptocurrencies to secure multi-million-dollar payouts. Cryptocurrency transactions are untraceable and not regulated by any government or authority. But hackers are now taking this further by attacking crypto exchanges and stealing coins from user wallets. They also indulge in illegal crypto mining activities – using thousands of compromised computers to mine coins. Crpto mining utilizes a great amount of electricity from the grid. Due to this, there have been power shortages in some countries.CISO MAG got in touch with Amit Jaju, a Senior Managing Director with Ankura Consulting, to discuss these challenges. It was startling to learn from Amit that global temperatures will increase by two degrees by 2024 due to crypto mining activities. You will be amazed to learn how much power is consumed for every cryptocurrency transaction when the blockchain ledgers are updated. Amit offered some suggestions for crypto exchanges during our discussion to protect user wallets. He also suggests what regulators and governments can do to protect consumers.Amit leads the Data & Technology Segment at Ankura Consulting in India. He has over 17 years of experience in forensic technology consulting covering data analytics, cyber, e-discovery, software licensing, and information governance. He has created market-leading solutions around financial crime, cyber incident response, analytics, and software licensing and delivered engagements for global and Indian clients in over 20 countries. His experience spans multiple sectors, including Financial Services, Information Technology, Pharmaceuticals, and Media & Entertainment.He has led many complex global
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