Risk Management to Cryptocurrency Exchange and Investors Guidelines to Prevent Potential Threats

Abstract

Investment and interest in cryptocurrency is rapidly growing. The price of each bitcoin, in particular, has exceeded 10,000 dollars as of November 2017, so we do not know how long the uptrend will continue. Although blockchain technology is more open and security oriented than conventional currency issuing methods, it is relatively ineffective in terms of distribution and management of cryptocurrency. The most common way to get cryptocurrency is trading through exchange and mining, which novices sometimes invest in without sufficient knowledge. Therefore, this paper analyzes vulnerabilities of potential cryptocurrency exchanges and individual user wallets. Moreover, this paper will suggest policy risk management methods using international standards such as from NIST and ISO. Blockchain, weaknesses of countermeasures management system, countermeasures to deal with them, management vulnerability of investors and management plan. Server management plan and personal action tips will be provided.