CYBERSECURITY IN E-COMMERCE: THE ROLE AND THREATS OF CRYPTOCURRENCY PAYMENTS

Анотація

The article explores the relationship between the proliferation of cryptocurrencies and the state of cybersecurity in the field of electronic commerce. It examines both the advantages of using cryptocurrencies in digital transactions – such as high transaction speed, global accessibility, reduced costs associated with intermediaries, and transparency enabled by blockchain technology – and the associated risks. These risks include the rising scale of financial fraud, phishing attacks, money laundering, cybercrime, and the complexity of regulatory compliance across different jurisdictions. Special attention is given to the specific features of cryptocurrency-based payments in e-commerce and how these new forms of settlement are reshaping requirements for data protection, digital infrastructure, and risk management practices. The study analyzes the main cyber threats arising from the integration of cryptocurrency payment systems into e-commerce platforms, as well as defense mechanisms ranging from cryptographic technologies to multi-level authentication protocols and real-time threat detection. The article concludes that the effective use of cryptocurrencies in electronic commerce is feasible only through a comprehensive approach to cyber risk management – one that combines technological innovations with robust legal instruments and clearly defined organizational strategies. Furthermore, the article presents a synthesis of current approaches to securing digital transactions, including cryptographic algorithms, multifactor authentication, secure key management, and systems for monitoring anomalous activity. It demonstrates that the increasing use of cryptocurrencies in e-commerce requires not only technical solutions but also legal, organizational, and educational measures. The research finds that the optimal integration of cryptocurrency instruments is achievable only through a holistic cyber risk management strategy that merges advanced technological tools with the development of international cybersecurity standards and policy frameworks. Finally, a practical algorithm for organizing cybersecurity measures within an e-commerce enterprise is proposed.

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