The Risks and Challenges of Unregulated Digital Currency: Bitcoin's Vulnerability to Cybercrime

The Risks and Challenges of Unregulated Digital Currency: Bitcoin's Vulnerability to Cybercrime

how Bitcoin operates outside the control of any central financial authority, bypassing the traditional banking system and official oversight. However, this also makes Bitcoin susceptible to cyberattacks and theft, as it exists as digital numbers stored in online wallets with no government or banking insurance to protect deposits. If a security breach occurs, there is no recourse or compensation available to recover any lost Bitcoin.

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