As cryptocurrency prices rise, scammers are becoming more sophisticated in their attempts to get their hands on your currency. The lure of profit drives these scammers to create fake websites to try and steal your identifying information. To prevent these scammers from gaining access to your sensitive information, don’t be one of the unwary users on the Internet.
The most common method used by these scammers is phishing, or solicitation. For example, you might receive emails that appear to come from a service provider that deals with cryptocurrency or is affiliated with an exchange platform. These messages are usually sophisticated and detailed. The unwary victim is first directed to a fake cryptocurrency website and then asked to enter their identifying information and sensitive data. When you enter your personal information on a fake website, scammers use that information to access and empty your wallet. Always triple check the site URL and SSL certificate to make sure it’s the legitimate site.
Fake Facebook Pages
Scammers are also active on Facebook. They look for groups interested in cryptocurrencies and create fake Facebook pages that are identical to the official pages of these groups. Members then receive phishing or fake emails. Turning off notifications from users in unknown groups is the only way to protect yourself from these fraudulent activities. If someone promises you free bitcoin, it’s definitely a trap.
1 – Use antivirus software with protection against phishing attacks.
2 – Carefully configure your privacy settings to avoid Facebook scams.
3 – Check all links in messages from an Internet service without clicking on them, and instead type the service’s address into your browser’s address bar.
Fake Twitter accounts
Phishing scams are spreading to other social media outlets, especially Twitter. You may receive a malicious message asking you to submit your cryptocurrency or provide your sensitive information. None of the cryptocurrency services are forcing you to do this. Check Twitter accounts for recent posts, subscribers, and joining date. At the very least, the real account must have been verified.
Never give anyone your private key.
Wallet providers will never ask you to give them your private key under any circumstances. Always double check before clicking on a suspicious link. Private keys are used for non-reversible transactions. Yes, it is irreversible!
These keys are used to spend and send your crypto money to anyone, anywhere in the world. This irreversibility is guaranteed by the mathematical signatures associated with each transaction when we use private keys to send bitcoin, for example.
Don’t use a public Wi-Fi network
With a public Wi-Fi network, you can connect without having to enter a password. This means it’s probably not secure. Don’t make crypto money transfers online using a public Wi-Fi network. Don’t expect your mobile apps to be secure on a public network. Check your laptop or phone’s settings to make sure it’s not set to automatically connect to any available Wi-Fi network.
Final Thoughts
These are the main ways to protect your crypto money. However, there will always be new scams in the future. Therefore, you should always remain skeptical and cautious about cryptocurrency transactions, websites, and promoters.
Protect your private keys, do your research and only buy currencies with a good reputation. If it sounds too good to be true, it probably is. Again, you need to exercise good judgment and do your own research. When in doubt, don’t invest, no matter how tempting the offer is.
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