Crypto Scams and how investors protect their assets effectively

$7.8 billion is the figure that scammers misappropriated in 2020 via Crypto Scams, according to blockchain data firm Chainalysis’s “Crypto Crime Report 2022” report, published on Wednesday January 6th and it is still increasing in recent times.

Popular Crypto Scams

Poisonous file

Malicious files are usually files containing malicious code that, when we download or activate, can take control of the device, thereby automatically using the device to steal assets and essential information.

Malicious file extensions often have the form of “.exe” because the program can perform access rights when we have installed it.

Fake individuals/groups

This form of Crypto Scams often appears on social networking platforms like Facebook, Telegram, and Twitter. Especially on Telegram because often, investment groups will appear on Telegram quite a lot, and this is also the favorite platform of scam groups. scam because it will be easy to cheat through spoofing big KOLs in the market or large communities in the market

Fake application of cryptocurrency exchanges

One popular fake app for spoofing exchanges is Poloniex, which hackers launched before the business announced its official exchange app. The purpose of the Hacker is to get login information when the user enters the fake application.

Fake Cryptocurrency Wallet Apps

These apps aim to get the user’s wallet password, 12 characters or private

Or they can provide hacker addresses instead of wallet addresses. When users transfer assets from one wallet to another, the assets may be transferred to the Hacker’s wallet, not the wallet’s wallet surname.

How Investors Can Protect Their Cryptocurrencies

Keep track of Wallet Keys

Each user receives only one unique key to access their wallet. Losing your key or having it stolen could mean completely losing your cryptocurrency and not giving it to anyone.

Report fraud

Please report fraud to the electronic exchanges you join as soon as you detect a Crypto Scams for timely resolution.

Finally, you need to prepare yourself with enough knowledge to understand how the market works.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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