ABSTRACT
The chapter examines the evolution of various security threats related to the most common and popular digital currency, a cryptocurrency that employs booming blockchain technology. A cryptocurrency is a form of exchange, such as the Indian rupee; however, it is virtual and uses encryption strategies to manipulate the advent of financial units and confirm the switch of funds. However, security issues and privacy challenges mostly expose downfalls in cryptocurrency, such as cyber-attacks, that must be taken seriously and addressed to function safely. This chapter sheds light on various security threats and highlights the concept of various attacks with a focus on cryptojacking, one of the severe unsafe threats in cryptocurrency history. It also discusses the privacy concerns involving cryptocurrencies, stating various novel approaches to the challenges that force security and privacy trade-offs and the influential role of blockchain technology.
