Every sector in the world is stepping towards digitalization, and with digitalization comes issues of cybercrimes. Among all, one of the platforms where most cybercrimes are committed in the field of cryptocurrencies. One of these crimes is the man-in-the-middle attack. In the world of cryptocurrencies, when a person secretly interprets the communication between two parties, exchanging cryptocurrency and violating rules of cryptography, then the person is seen as an attacker and termed as a man-in-the-middle.
The man-in-the-middle aims to steal personal and private information, such as account details, credit card numbers, and login credentials. Exchanging cryptocurrencies is a whole process conducted online and has so many issues related to privacy and security. Though, with time attempts are made to make it less insure and more protected for its users.
Sometimes the man-in-the-middle is also called monkey-in-the-middle, monster-in-the-middle, or machine-in-the-middle, or person-in-the-middle. When a middle man is involved between the application and user or the user and the broker to steal the personal information, it is called the man in the middle attack. Cryptocurrency is an independent source to exchange virtual currency, and it is fully independent of the administration and central government.
They are sometimes used to do illegal activities, and so many cybercrimes are committed in the process of exchanging virtual currency. First of all, it is important to understand what is man-in-the-middle attack? Or what is MITM attack and then to know in how many ways they can be triggered and at last, How to prevent man-in-the-middle-attack.
The man-in-the-middle is the person who pretends to be someone you can trust, but in reality, is involved in stealing important information from the user. There are many types of a man-in-the-middle attack, and a few of them are discussed below:
Man-in-the-middle attacks are considered as one of the oldest cyber-security attacks. Man-in-the-middle attacks definition is simple. In this type of cyber attack, the attacker or the hacker is sitting between the user and the application without them knowing and intercept the information shared between the two. The attacker’s aim could be snooping or spying on the individuals or the groups to steal the login credentials, credit card number, funds, resources, or redirecting efforts or attention. Most of the attacks are attempted through wired networks or Wi-Fi.
As discussed above, man-in-the-middle attacks can be attempted in many ways depending on the attacker’s target and goals. The attacker can use Email-hijacking to get access to the user’s email and then steal the information pr. The attacker can try HTTPS snooping, DNS snooping to act as an authorized web page. Still, the minute the user logins to the fake or duplicate web page, the attacker gets access to the user’s private information or login credentials. In online banking, the attacker could know when the user is transferring and how much of the amount.
The attacker who tries to steal privacy information has many reasons and is aware of many methods to attack. So it becomes important for the user to be aware of those cybercrimes and also the prevention methods. The user must know how to detect a man-in-the-middle attack. Some of the methods to avoid online frauds and be safe from cyber crimes committed by the man-in-the-middle are listed below:
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