Cryptocurrency Security Threats: How to Avoid Them

This article is intended for people who are new to the crypto world and want to reduce their chances of being hacked.

When you have a lot of power, you have a lot of duty on your shoulders. With crypto, you have the power to move funds anywhere on the globe; all you have to do is decide. However, you should be aware that some individuals may attempt to steal your assets, and you must assume responsibility for safeguarding them.

Here are some ideas for things you could try.

Modeling the Threat

Are you public about your involvement with cryptocurrency? How Public?

What social media platform are you on? Don’t get me wrong, I’m not suggesting you shouldn’t use social media, but sharing your cryptocurrency participation or even your wallet address may likely attract scammers.

What amount of privacy do you have with personal details such as your birthdate and address?

A person’s birthday isn’t necessarily a significant risk factor. However, you never know how far scammers may go.

An attacker can utilize whatever information you publish on social media to create a social engineering assault. With your personal information, an attacker can create a message that appears to be authentic for you.

Scam

Telegram: When you ask a question on the channel, individuals posing as live chat assistance may come to your DM and ask you questions.

Keep in mind that Moderators/Admins will never DM you first. They might reply to your direct message.

  • Invitations via the main channel or direct messages offering invites to secret groups, etc., are another scam technique, as is the use of the phrase “invest for 100% Gains” (pump and dump).
  • Strangers sending direct messages with celebrity names may appear to want to assist. No one, not even Cz or Elon, would send you bitcoins.

Take advantage of the Mogul’s official support channels on the webpage

Give away scams: For example, send 0.1 ETH and I’ll return 15 ETH. If it is too good to be true, then that might be the case.

Incorrect translation: Ask admins who speak the language or utilize an online translator.

Spoofing

Spoofing is the act of misrepresenting a message from an unknown source as coming from a well-known, reliable source.

To avoid this, make sure your wallet is verified (METAMASk)

Seed Phrase and Private key management:

  • Use a secure device to generate your keys. Your phone is probably not safe, and your everyday PC is probably not secure.
  • In a device with many users, don’t store the keys.
    Treat the owner’s key as though it were your most valuable asset that no one should know about. Treat your mnemonic seed phrase with respect!

Recognize your responsibilities and pay attention. Learn more, because the more you know, the less vulnerable you will be.

About Mogul Productions

Mogul is a decentralized film financing platform that brings

brings creators, fans, and film financiers together, allowing everyone to play a part in the next big blockbuster.

For more information about Mogul Productions:

Website: https://www.mogulproductions.com/
Telegram Group: https://t.me/mogulproductions
Twitter: https://twitter.com/@mogulofficial_
Reddit: https://www.reddit.com/r/mogulproductions/
Medium: https://medium.com/mogulproductions

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Content Creator | Digital marketer | Digital Enthusiast

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