Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics for pharmacy trends
    How Data Analytics Is Tracking Trends in the Pharmacy Industry
    5 Min Read
    car expense data analytics
    Data Analytics for Smarter Vehicle Expense Management
    10 Min Read
    image fx (60)
    Data Analytics Driving the Modern E-commerce Warehouse
    13 Min Read
    big data analytics in transporation
    Turning Data Into Decisions: How Analytics Improves Transportation Strategy
    3 Min Read
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Predictive Analytics Solutions Bolster Crypto Trading Security in 2019
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Predictive Analytics > Predictive Analytics Solutions Bolster Crypto Trading Security in 2019
AnalyticsExclusivePredictive Analytics

Predictive Analytics Solutions Bolster Crypto Trading Security in 2019

Rehan Ijaz
Rehan Ijaz
5 Min Read
SHARE

The market for cryptocurrencies has opened the door for a number of new opportunities and challenges. One of the biggest difficulties that crypto traders, brokers and entrepreneurs face is a rising number of security risks. In 2019, crypto scams where the most common type of online security breaches. CIO reports that CryptoLocker was one of the worst ransomware attacks of 2019. Other crypto scams will be even more prevalent in the future. New advances in predictive analytics are helping solve many of these threats. Here are some reasons that predictive analytics technology is going to be the best line of defense against hackers and malware for the foreseeable future.

Contents
  • Identifying variations of crypto malware
  • Identifying sources of attacks
  • Looking for red flags in social engineering approaches

Identifying variations of crypto malware

According to a report by Pindrop, the prevalence of ransomware attacks directed at crypto users and networks has surged by 500% over the past year. There are a number of reasons that hackers have become more brazen. One of them is that traditional malware protection software is not adequately equipped to handle them. This is not due to the complexity of ransomware pertaining to crypto. Rather, it is due to the fact that the algorithms are simply different. They do not always trigger the same red flags as other forms of malware. Small alterations in the source code can make these malicious applications virtually undetectable. This is where predictive analytics technology can be invaluable for security purposes. According to an expert that we spoke with from Blockport, predictive analytics technology is able to identify the types of modifications that malicious programmers make to their algorithms. This makes it easier for these tools to notice crypto malware variance that would otherwise be missed by malware protection software.

Identifying sources of attacks

Noticing variations in malware is important for crypto security. However, other safeguards are equally necessary. One precaution that security analysts need to take is identifying the sources of different crypto attacks. Some regions are responsible for far more security breaches than others. Predictive analytics technology is essential for identifying the regions where most of these attacks originate. This technology looks at historical records of data breaches and attempts to look for clustering relationships. Previous security methodologies simply created blacklists of IP addresses for networks and geographic regions that are associated with cyber-attacks. Predictive analytics algorithms recognize that hackers are more sophisticated than previous security models were able to account for. They use the same data to evaluate for other factors, including:

  • Relationships between different networks. Predictive analytics algorithms recognize that hackers often take advantage of different types of networks. For example, they may have created multiple botnets to orchestrate their attacks. If a crypto cyber-attack is associated with one network, then the security defenses will try to separate access to associated networks as well.
  • Predictive analytics solutions recognize that hackers often operate in sophisticated groups with centers all over the world. Once they are able to trace a crypto cyber-attack to one known hacker, they can try to limit access to very localized regions that their accomplices are likely to be based in.
  • Predictive analytics models are able to look for patterns in VPN IP addresses and Tor nodes. This makes it easier for them to bar connections from them.

Predictive analytics technology is making a significant impact on the effectiveness of security solutions. One of the biggest benefits is knowing where these attacks originate, so they can stop them.

More Read

An Analytics Story Problem: When will two trains collide?
First Look – FICO Insurance Fraud Manager
3 Ways Big Data And Business Intelligence Can Improve Your Business
The Predictive Power of Nonsense
Dr Gates was right, or how I learned to stop worrying and love the spam

Looking for red flags in social engineering approaches

Crypto hackers don?t usually rely entirely on brute force attacks. They often rely heavily on complex social engineering strategies. This enables them to gain the trust of their targets, so they can keep them into downloading malware or dropping their defenses. Social engineering strategies are complex and difficult for people to notice. However, as security expert Leslie Lambert points out, predictive analytics technology is able to recognize patterns in these types of attacks. They will be able to screen emails and one recipients of potential phishing attacks. They can also look for warning signs that webpage is a recipient might have been directed to is consistent with those often used in these types of attacks.

TAGGED:predictive analyticstrading security
Share This Article
Facebook Pinterest LinkedIn
Share
ByRehan Ijaz
Follow:
Rehan is an entrepreneur, business graduate, content strategist and editor overseeing contributed content at BigdataShowcase. He is passionate about writing stuff for startups. His areas of interest include digital business strategy and strategic decision making.

Follow us on Facebook

Latest News

payment methods
How Data Analytics Is Transforming eCommerce Payments
Business Intelligence
cybersecurity essentials
Cybersecurity Essentials For Customer-Facing Platforms
Exclusive Infographic IT Security
ai for making lyric videos
How AI Is Revolutionizing Lyric Video Creation
Artificial Intelligence Exclusive
intersection of data and patient care
How Healthcare Careers Are Expanding at the Intersection of Data and Patient Care
Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

PAW: Predictive Modeling for E-Mail Marketing

7 Min Read
gaming industry
AnalyticsExclusivePredictive Analytics

Predictive Analytics Is Reshaping UX In The Global Gaming Industry

5 Min Read

Accuracy not just confidence – some thoughts after attending SAS Global Forum 2009

6 Min Read
artificial intelligence tool for small businesses
Artificial IntelligenceExclusive

Why AI Is The Perfect Recruiting Tool, Even For Small Businesses

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?