As the cryptocurrency industry expands, there is also a growing concern because cybercriminals come up with new methods every day to steal people’s cryptocurrencies. One of the most common ways they do this is through phishing attacks. A phishing attack is an attempt to steal sensitive data, such as usernames, passwords, and credit card details, by pretending to be a genuine entity and getting victims to open emails, text messages, or even the wrong website addresses.
This has become one of the easiest ways to steal crypto, and anyone can be a victim. However, there are a few precautions you can take to protect yourself from such attacks. The following are four tips you can use to make sure your funds are safe from crypto hacking.
Be Careful When Updating Software and Visiting Websites
Cryptocurrency wallets require updates from time to time for users to enjoy the newest features. However, you should be very careful when carrying out such updates, as you may be directed to the wrong website, and updating the wallet from there could give the wrong people access to your funds. Websites try to prevent this by giving warnings to users to make sure they are on the correct website.
For instance, if you are logging into your account on an exchange, you may receive a warning like the one in the picture below.
Updating on the wrong website could lead to a loss of your funds. There was a case where a single Electrum wallet user has lost $15 million in BTC, so make sure to double-check every time. If you always pay attention to these details and check to make sure you are in the right place, your chances of falling for a phishing attack could be greatly reduced.
Slow Down with Google Chrome Extensions
Google Chrome extensions help to make life easier. They add special functionalities to your computer that you wouldn’t have otherwise. However, they have become an easy way to launch phishing attacks on unsuspecting users. Before downloading that extension, make sure it’s not a scam.
Cointelegraph reported in March this year that a Google Chrome extension user lost 1.4 million XRP because of a scam Ledger Live extension. To prevent this, you need to double-check whether you are getting the right extension or, better yet, stay away from this if you are not getting one.
If You Fall Victim, Share with the Community
It is important to try and prevent phishing attacks from happening to you, but if you fall victim, it is equally important that you share the information with the remaining community, so others don’t become victims of the same attack. It is even possible for you to promptly identify and stop an attack. By sharing with the community, you reduce the chances of the attacker ever becoming successful in getting victims.
Social media is a great way to share this information, especially if you have a large number of followers on Twitter. Crypto Twitter is the biggest and most functional crypto community of any social media, and such information can reach thousands in no time and help save many.
Know the Source
There are several platforms that claim to provide services using cryptocurrencies; however, not all of them are to be trusted. To avoid any form of crypto-jacking users need to put their trust in reputable websites that can guarantee personal data protection.
That is why anonymity makes sense nowadays, users want to feel free surfing the internet with no revealing their personal data to third parties. One of the safest ways to preserve your privacy is to not share data on the web, it’s quite hard to achieve nowadays considering ubiquitous trackers (cookies, pixels and etc.) placed all over the web, yet there are companies that value the safety of their users above all else.
Some crypto platforms, such as 1xBit, require no KYC at all, as they generate a new login and a password in seconds. Being a foremost crypto casino, it also supports over 25 cryptocurrencies that users can choose from to bet. New users get an up to 7 BTC welcome bonus for the first 4 deposits, and they can easily withdraw their rewards with zero fees.
Phishing attacks are real, and many people fall victim on a daily basis. If you keep these tips in mind when engaging in any activities that involve disclosing sensitive personal data, you will protect not just yourself but also your loved ones and the crypto community in general. As a rule of thumb, always check any destination you are visiting on the internet and do not open emails, text messages, or any other files from unverified sources.