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How to protect against cryptocurrency fraud

How to protect against cryptocurrency fraud
With the growing popularity of cryptocurrencies, the number of fraudsters and various scams that want to steal your cryptocurrency is on the rise. In this article we will tell you some simple but very effective tips on how to keep thieves, hackers, fraudsters, and scammers out.

Protecting your cryptocurrency may be split into two parts: technical and social engineering.

How to technically secure your cryptocurrency from fraudsters:

  • Minimize browser extensions, they may have backdoors (hacker bookmarks).
  • Do not use public wifi for transactions.
  • Use a VPN to encrypt your data, but be aware that free VPNs may not be secure.
  • Disable JavaScript in your browser.
  • ALWAYS use 2FA (two-factor authentication).
  • To authenticate on multiple crypto exchanges, use different emails.

Moving on to methods of social engineering attacks and how to counter them.

Psychological techniques are some of the most common techniques used by scammers.

How to make sure your cryptocurrency is not stolen:

  • Use bookmarks and always double-check the link when transferring from a third-party resource.
  • If the link is embedded in the text, copy it into a text file and check it.
  • When transferring cryptocurrency to another wallet, make a trial transfer of the minimum amount.
  • If you receive a personal message saying that you have won something (crypto or NFT), ignore the message. Companies don't do that and always announce winners through official channels.
  • Never give away passwords and SEED phrases for your accounts and wallets.
  • Store cryptocurrency on different resources, preferably cold wallets.
By following these tips, you will reduce your chances of becoming a victim by 99% and never again lose cryptocurrency through your mistake or fault.

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