Definition ∞ An unauthorized transaction is a financial operation or transfer of assets executed without the explicit consent or legitimate approval of the account owner. Such transactions often result from security breaches, phishing attacks, or compromised credentials. It represents a direct loss of control over one’s digital or financial holdings.
Context ∞ In the cryptocurrency world, unauthorized transactions are a primary concern, frequently reported in news articles detailing hacks, scams, and security vulnerabilities. Once an unauthorized transaction occurs on a blockchain, it is generally irreversible due to the immutable nature of the ledger. Protecting private keys and employing robust security practices are paramount to preventing these losses.
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