BLOCKCHAIN SECRETS
Chapter 6 – Risks and Challenges of Blockchain Technology
One of the major draws of blockchain technology is also one of its most significant challenges. Currently, there is very little regulation with regards to what is and isn't allowed in the blockchain space. Because of this, there have been numerous instances of hackers being able to make off with millions of dollars of investor money because of loopholes in the online blockchain systems. Despite the promise of security on the current blockchains, there are teething issues that hackers are taking advantage of to the detriment of every blockchain user.
Recently, there was a case with Enigma, a decentralized platform that was preparing to raise money through an ICO. Hackers were able to hack Enigma's website and numerous social accounts 47
