Be smart with your crypto safety

[sokani]

I would also usually advise anyone to do offline storage as you said, and also suggest to keep electronic backups using a device that is rarely used to connect to anything.

Storing the seed phrase electronically is not good. If your device gets compromised by an infostealer, you will lose your funds.

But recently I just saw someone who was able to store his seedphrase by remembering it in his head, and it was quite challenging, I have tried to do it but have not succeeded, maybe I will try harder to be able to do it, and I think this method should be done by everyone who feels capable of doing it.

Memorizing the seed phrase is not good either. If you had a severe illness or an accident, it could lead to memory loss and thus, the loss of your funds. Write your seed phrase on a clean piece of paper or crest it on metallic steel and keep it somewhere safe.

[Sticky Bomb]

Scammers are coming with different approaches to scam their victims, and most of their targets are always crypto holders since it's easy to seamlessly transact. Holders just have to be extremely careful in order to survive any means they try to use to steal from us. The first thing I normally advise people is not to easily trust anyone they meet online, as that's most times the first step they use to gain access to whatever they want from your gadgets.

This is the most distressful part, as technology is evolving, their scam approaches are upgrading too. Gone are the days scam is easy to detect, now it feels so much like real. They target crypto holders because of the decentralization there in. Beyond being careful, holders must always put up privacy practices, like knowing who you should have crypto discussions with and never in any way admit being a holder or flash the worth of your coins on social media or to friends in a discussion since we barely know who is really for us and those against us in recent times.

[Hazink]

…They target crypto holders because of the decentralization there in. Beyond being careful, holders must always put up privacy practices, like knowing who you should have crypto discussions with and never in any way admit being a holder or flash the worth of your coins on social media or to friends in a discussion since we barely know who is really for us and those against us in recent times.

Sometimes the target comes directly from those who know you, like the frequent kidnapping and adoption cases that were happening in Paris and spreading all over the media. If it's being checked deep down, they became targets due to their publicity; either they themselves became targets or their relatives did.

In cases where you are fully involved in a crypto development project and your company is known, there is no way you can hide from the public that you own and hold it. The best thing to do in such a situation is to be security conscious because there will always be a target on your back and that of those who are close to you.

[AGogi2003]

[

Op you are right, many crypto beginners did not know what crypto currency is before they started investing into crypto currency. Buying any of the crypto currency is easy but holdimg is and keeping it save is not easy. Crypto newbies do not know how to safe keep their crypto currency that's why they become victims to scammers. However, knowing what crypto to invest into and how to safeguard it is the main thing to learn. After that you don't have to continue clicking on random links because that's the easiest way to get scammed.

That is what some investors are facing, they don't know how to keep there crypto safe in the wallet, they think is normal thing like back account that even you lot your private key you can retrieve your wallet. Newbie need to be very careful when saving there coin in the wallet they need to look for a legit wallet to keep there coin safe to avoid scam. This season scammers have full everyone looking for who to scam in the market, because technology is advancing everyday you need to be very careful to know with link you are opening on your phone or platform that you are accessing in the Internet, and who you are telling about your bitcoin investment, because some people that you told about your coin are the people will try to steal your coins, try to know with of your family you trust most that you can tell about it. Because may people are after money they don't care to do anything to get funds. Let be wise on anything we are doing so that our coin will be safe from scammers.

[SOKO-DEKE]

[

Op you are right, many crypto beginners did not know what crypto currency is before they started investing into crypto currency. Buying any of the crypto currency is easy but holdimg is and keeping it save is not easy. Crypto newbies do not know how to safe keep their crypto currency that's why they become victims to scammers. However, knowing what crypto to invest into and how to safeguard it is the main thing to learn. After that you don't have to continue clicking on random links because that's the easiest way to get scammed.

Honestly, there are some people who are currently holding Bitcoin, but the truth is that they are just holding it. If scammers attempt to steal their coins, the scammers will succeed because they didn't take the necessary steps to provide proper security for their funds. The funny part is that they don’t seem to care much about giving their coins the best security; all they're after is just to keep investing more and more.

But the truth is, someone may make a reasonable profit in the future and have a good plan for holding for a long period of time. It may very well be that this is the time when someone who has made a big move in crypto will be attacked by hackers or scammers. So, taking the best measures to keep funds safe has to start from the day someone begins investing.if possible, I would advise newbies to learn the proper way of securing their crypto investments before they start investing. They should also stay updated on any new tactics scammers might be using.

[GreatArkansas]

But recently I just saw someone who was able to store his seedphrase by remembering it in his head, and it was quite challenging, I have tried to do it but have not succeeded, maybe I will try harder to be able to do
it, and I think this method should be done by everyone who feels capable of doing it.

Memorizing the seed phrase is not good either. If you had a severe illness or an accident, it could lead to memory loss and thus, the loss of your funds. Write your seed phrase on a clean piece of paper or crest it on metallic steel and keep it somewhere safe.

I want to add here, you can also have multiple backups, like a physical backup, just in case something happens in the place where you store our seeds physically. BUT this could also not be safe, because it is prone to other people finding it and accessing it.
So you just need to weigh whether someone can find or steal it versus losing the only backup.

[EarnOnVictor]

I would also usually advise anyone to do offline storage as you said, and also suggest to keep electronic backups using a device that is rarely used to connect to anything.

Storing the seed phrase electronically is not good. If your device gets compromised by an infostealer, you will lose your funds.

Nothing online is secure, even an antivirus company can compromise your account.

Trust me, inasmuch as you have applications and software on that gadget or where you stored it is being hosted by someone other than you, then you are not safe. This is why I don't save my passwords with Google Manager again, it has compromised them before.

Google and whatever service they offer are the most useless when it comes to online privacy and security.

[SmartCharpa]

Op you are right, many crypto beginners did not know what crypto currency is before they started investing into crypto currency. Buying any of the crypto currency is easy but holdimg is and keeping it save is not easy. Crypto newbies do not know how to safe keep their crypto currency that's why they become victims to scammers. However, knowing what crypto to invest into and how to safeguard it is the main thing to learn. After that you don't have to continue clicking on random links because that's the easiest way to get scammed.

The cryptocurrency space is very risky, and people can easily fall victim to scammers due to a lack of knowledge, but, being smart can also lead to scams. Many people believe that they are smart and cannot be deceived no matter the methods scammers use, however many scammers are much smarter than us, and they never stop improving how well they can deceive people to steal their holdings. I've seen someone who secured his wallet with every form of protection, yet he can't explain how he fell victim to a fraudster who stole the coin he was holding.

Of course, it's easy to invest, but keeping it for safety is the main problem. Many individuals click on random links they come across online without doing any good research. Even clicking on a link allows scammers to get access to our wallets. Some newbies can get fooled out of greed if they receive a message from a stranger claiming to have legit stuff that would double their money, absolutely nothing will give us profit out there without investment.

[knowngunman]

The method which the money was stolen from its victims was mentioned on that publication:

According in the indictment, since at least August 2024, Lam, Serrano, and others conspired to carry out cryptocurrency thefts and to launder the stolen crypto currency through exchanges and mixing services. The conspirators would fraudulently gain access to victim cryptocurrency accounts and then transfer victim funds into their possession. They laundered the proceeds, including by moving the funds through various mixers and exchanges using “peel chains,” pass-through wallets, and virtual private networks (VPNs) to mask their true identities.  Lam and Serrano then allegedly spent the laundered cryptocurrency proceeds on international travel, nightclubs, luxury automobiles, watches, jewelry, designer handbags, and rental homes in Los Angeles and Miami. In one instance, on August 18, 2024, Lam, Serrano, and their conspirators contacted a victim in D.C. and, through the communications with that victim, fraudulently obtained over 4,100 Bitcoin (worth over $230 million at the time).

Scammers are coming with different approaches to scam their victims, and most of their targets are always crypto holders since it's easy to seamlessly transact. Holders just have to be extremely careful in order to survive any means they try to use to steal from us. The first thing I normally advise people is not to easily trust anyone they meet online, as that's most times the first step they use to gain access to whatever they want from your gadgets.

Unfortunately, the fraudulent means they used to gain access to the victim wallet was not properly explained in the story for people to learn from. It's scary how cryptocurrency theft and scam is happening day by day. What is more scary is how this scammers are coming up with a new and different strategy every time. This is one more reason why governments and some people are against mixers and cryptocurrency in its entirety. They believe the existence of mixers is to aid criminals to carries out their criminal acts without revealing their identity. It's not just trust, they should entertain conversations from strangers for a long time in order not to create forum for further discussion.

[Orpichukwu]

And to be honest in the highest order, keeping our funds safe these days that scamming and hacking has advanced in different strategies which should be a great concern to us holding the bitcoin digital assets because while you only focuses on accumulating of bitcoin without being concious about how the internet had been contaminated with malicious tricks and softwares could cause us loosing our funds.

I'm always of the opinion that when someone wants to learn about crypto security, it should also be among the things – if not the first thing – they should gain knowledge about before they can talk about acquiring it, because without having security knowledge of how to secure what you plan to accumulate, it all might end up in the hands of someone who did not suffer for it. You need to learn how to protect your wallet phrase, keep it safe, understand the difference between using a custodian service and using a non-custodial one, and know how to address both of them.

[HONDACD125]

I'm always of the opinion that when someone wants to learn about crypto security, it should also be among the things – if not the first thing – they should gain knowledge about before they can talk about acquiring it, because without having security knowledge of how to secure what you plan to accumulate, it all might end up in the hands of someone who did not suffer for it. You need to learn how to protect your wallet phrase, keep it safe, understand the difference between using a custodian service and using a non-custodial one, and know how to address both of them.

A lack of knowledge is a person's biggest enemy because it makes them vulnerable. When you don't have knowledge about something, you don't know what to do with it, and that give others who are evil an opportunity to take it away from you, and that's what happens most of the time in the crypto space because newbies get excited when they hear about cryptocurrencies and how they can make money from them, they enter the space, start buying cryptocurrencies with their money, but since they lack knowledge, they don't even know where they should store them.

Most people don't even know anything about custodial or non-custodial wallets, I mean, they don't know the difference, and some even consider centralized exchanges as the safest place to keep their assets because again, they don't know anything about the past, they don't know what happened to some exchanges, and how so many people lost so much money.

That's why, knowledge is important, and it should be the first thing one should think of when they decide to get into something new.