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Most Russians are not ready for financial independence

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Financial Independence: What no one tells you (as a millionaire)

Most Russians are not ready for financial independence

Most Russians are not ready for financial independence
CONTENT

  • Most Russians believe that banks themselves should compensate for losses due to fraud with banks.

  • In the cryptocurrency industry, the culprits of losses are mainly the holders of cryptocurrencies themselves.

  • Malware activity increased by 311% in 2020

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Most Russians are not ready for financial independence

More than half of Russians are not ready to switch to cryptocurrency assets due to the need to independently weigh financial risks

Most Russians believe that it is the banks or the state that should be responsible for fraudulent transactions and take on the financial risks associated with bank cards. This is reported by RBC, referring to a study by the analytical center NAFI.

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Most Russians are not ready for financial independence

According to the survey, over half of the respondents (51%) are of the opinion that it is the bank that should compensate for the damage from fraud. At the same time, 17% of respondents are sure that the state should compensate for financial losses. About a third of respondents said that the fault lies with the client of the bank.

More than 156 thousand Russian citizens from 53 regions of the country took part in the survey.

Cryptocurrencies and financial risks

Meanwhile, in the cryptocurrency market, responsibility and financial risks associated with possible theft or loss of control over assets are shifted to the holders of private keys from crypto wallets. Despite frequent incidents with decentralized finance protocols (DeFiDecentralized finance (DeFi) is a blockchain-based financial service that offers users access to an open, efficient and … More) and cryptocurrency exchange hacks, the biggest damage to the integrity of the ecosystem is caused by the owners of cryptocurrencies themselves.

For example, a former Ripple employee, Stefan Thomas, lost the keys to a bitcoin wallet that stores 7,000 bitcoins. At the current exchange rate, the value of assets is almost $ 241 million. Often, users incorrectly indicate the addressee, as a result of which, funds are lost forever.

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At the end of December, the BeInCrypto editorial staff reported that a user mistakenly sent 4,005 LINK tokens (current value ~ $ 79,000) to a smart contract. Due to the lack of backward compatibility of the contract with LINK tokens, the user has forever lost almost $ 80 thousand in cryptocurrency. However, the human factor is not far from the only reason for the loss of cryptocurrencies..

Most Russians are not ready for financial independence

Source: blog.chainalysis.com

The analytical company Chainalysis found that the frequency of thefts of cryptocurrencies through malicious software (software) in 2020 increased by 311% compared to 2019. Thus, over the past year, attackers were able to steal about $ 350 million in cryptocurrencies using malware..

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