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Litecoin {LTC} enthusiasts cheer as Miami Dolphins prepare for Tampa Bay Bucanneers after brilliant win

Litecoin is ranked at #5, beneath Bitcoin Cash and above Binance Coin on coinmarketcap. LTC is presently in the green zone, a slight jump rate of 0.56% was noted. The trading volume recorded is $2.755 billion, while the supply has 63,032,618 LTC tokens in play. The total market cap of Litecoin is $5.377 billion.  At present, LTC is priced at $85.31.

Soon, the Miami Dolphins will be taking on the Tampa Bay Buccaneers. During the previous week on Friday, the Falcons [of Atlanta] lost to the Dolphins [the final scorecard for the preseason game read 34-27]. Recently, a dusting attack was uncovered by Binance, and LTC users were mostly affected by this move.

A dust attack can bring about de-anonymization. Both the Bitcoin and the Litecoin chains are transparent, and users have to thus incorporate apt measures to ensure that their transactions remains private. An attack of such nature can disclose user identities, causing a whole lot of problems.

A few days ago during the previous week, Binance had uploaded a video detailing the workings of a dusting attack. Do watch it to know more about this growing concern:

If someone gets a small amount of LTC or BTC transferred to their wallets, it might be done in order to pinpoint details tied to the person. This doesn’t qualify as a breach in security. Once hackers get hold of your personal data, they might use it to blackmail you in order to get BTC or LTC transferred to them.

Using the Tor browser or a VPN will help you fight against such malicious attacks [it may also prevent phishing]. Employing various [and new] addresses when transactions are being made is also a potential solution. The Litecoin developers wish to bring in Mimblewimble so as to promote privacy in the network.

If you have encountered such a move, get your coins transferred to a cold wallet.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.