Best practices to prevent hackers from stealing our crypto assets

[leeboy]

Hardware wallet is the most important thing and the only one that can really secure your funds

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[Silberman]

Hardware wallet is the most important thing and the only one that can really secure your funds

It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.

[tygeade]

Hardware wallet is the most important thing and the only one that can really secure your funds

It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.

[Apocollapse]

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange.

[Marvell1]

Hardware wallet is the most important thing and the only one that can really secure your funds

Hardware wallets help you avoid online threats better than software wallets but it doesn't guarantee the security of your crypto assets if you don't know how to keep your seed phrase/private key safe. The bottom line in asset protection is for us to decide, not a hardware wallet or a software wallet. When you use any wallet, your assets will be on the blockchain, so as long as someone owns your seed phrase, they will have full rights to your assets. Don't think that hardware wallets are absolutely safe.

[TravelMug]

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange.

Yes, that's why it is advisable to buy it directly to the manufacturer, to avoid being hijacked or your hardware wallet being tampered by someone because they know it's going to be some crypto assets on those from individuals who are buying it.

It's easy to buy it from the manufacturer website, and then they also have some reputable stores as well carrying their products.

And I must say it's a must for every crypto enthusiast to have a hardware wallet.

[fullhdpixel]

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange.

For the resellers, there must be an indication or like a seal, same on what we have on the product that we bought from the store to ensure that the item is still safe to use and have not been used yet by the reseller themselves. Hardware wallets is said to have a better security than the online wallets, I think that is because they are offline but I think there is still a threat once you connect them to the computer if you want to do a transaction or if you want to update the wallet.

We can also lost them or they can get damage over time. This can be the reason why some people don't bother on availing one anymore. Plus they still haven't experience any problem on using an online wallet.

[Silberman]

Hardware wallet is the most important thing and the only one that can really secure your funds

It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.

True, I was just pointing out that not even hardware wallets are completely safe if we make a dumb mistake like that, however if you use a hardware wallet as you should the chances of being hacked drop considerably, to the point I think the majority of those which have a lot of money invested in the market of cryptocurrencies should get at least one, as the majority of the people out there simply do not know how to secure their smartphones or desktop computers appropriately.

[Yatsan]

Just put more cautious into it. If you are using online wallets or exchangers as wallet, then avoid accessing unecessary and unfamiliar sites because malwares may access your device and eventually have access to your account. And if you are using hardware wallets, never put it in unsafe places wherein you'd forgot it or lost it. We are talking about money and that is an enough reason for you to be more careful of it.

Hardware wallet is the most important thing and the only one that can really secure your funds

It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.

Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.

I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.

True, I was just pointing out that not even hardware wallets are completely safe if we make a dumb mistake like that, however if you use a hardware wallet as you should the chances of being hacked drop considerably, to the point I think the majority of those which have a lot of money invested in the market of cryptocurrencies should get at least one, as the majority of the people out there simply do not know how to secure their smartphones or desktop computers appropriately.

There are even instances wherein investors have lost their hardware wallet. Remember the guy who accidently dumped his hardware wallet and eventually made efforts on finding it? In hardware wallet I think it is oneself which would be your biggest worry. Putting it in places wherein it won't be secured would definitely put your assets at risk.

[o48o]

If we are going that road then there's no place safe enough for your private key either. If someone really wants your money they might just do some long con clever social engineering.

Why would you be so dumb enough to let someone pull off a social engineering trick in order to access your private keys in the first place?

Ask that from numerous crypto veterans that have been hacked / scammed via several different methods. And not just by social engineering or honey traps, when humans are the weakest point obviously criminals target them and their pressure points. Some use violence and threats some use more sophisticated methods. If you haven't encountered any of these cases in your feed in the past, i am not sure what news feeds have you been following. Hell security professionals get hacked from time to time even when they don't hold any coins, imagine the incentive when you hold BAYCs, ETH or BTC enough to spark their interest.

[gunhell16]

Almost everything OP said is correct, and for me, the most important part is the last part he said "Educate Ourselves" because if we don't do it, we won't know if our assets have been put at risk. or not.

It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.

[n0ne]

Almost everything OP said is correct, and for me, the most important part is the last part he said "Educate Ourselves" because if we don't do it, we won't know if our assets have been put at risk. or not.

It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.

Educating ourselves is the most important. When we have the knowledge about the do's and don'ts we'll look for the better security and keep is in a more secure way. Even with securing the recovery phrase some used to be careless and loss big funds. Through education these problems can be overcome. More discussion is another thing that lets us know what is available in the updated market for better security.

[GreatArkansas]

For me, really matters here is how you will make your private keys or wallet seed phrases safe. Because let's say even if you use a hardware wallet but you store your wallet seed phrases not secure, it is still not safe at all. The downside of software wallets sometimes is just your device where your software wallets are stored is compromised or even your seed phrases are very prone.

[adaseb]

What the author forgot is that there is a new scam going around called address poisoning attack. And it happened to me even. It’s only on the ETH and BSC chains.

Basically out of your address you will see a destination transaction. It will have the same first and last characters. However this transaction is not real. You will copy it by mistake and send money there thinking it’s to the same address as before. And it goes to the hackers. Basically very sneaky way of scamming people.

[justdimin]

For me, really matters here is how you will make your private keys or wallet seed phrases safe. Because let's say even if you use a hardware wallet but you store your wallet seed phrases not secure, it is still not safe at all. The downside of software wallets sometimes is just your device where your software wallets are stored is compromised or even your seed phrases are very prone.

There are a lot of suggestions how to store it, and if you still do not store it properly then maybe you shouldn't have a hardware wallet. I have always said the same thing and people doubt me but I am going to say the same thing again. If you are investing your money into bitcoin, and you are not really interested in crypto as much as knowing how to store it safely, putting it on a trusted exchange is not a bad idea at all, it's actually quite common.

There are billions of dollars in binance, you think they won't know how to store it safely? All those "not your keys, not your coins" is old news when we had shady exchanges, binance will store it safely for you.

[Shobhikhan_007]

In this list you should also include that avoid using cracked software/games in your PC/laptop or mobile. Because crack software/games can include virus that can monitor our keyboad and screens easily.

[Silberman]

In this list you should also include that avoid using cracked software/games in your PC/laptop or mobile. Because crack software/games can include virus that can monitor our keyboad and screens easily.

People need to also be very careful with the apps they install on their phones even if they get them through the app store, as there are many apps out there which are released by hackers and that ask for all kind of permissions they should not realistically need, but people download them anyway as they never check such a thing, then the hackers eventually get hold of important information like your seed words or passwords and eventually you lose all the money that you had in the different wallets you had installed on your phone.

[Strongkored]

7. Be careful with email and links :

Not only do we have to be careful with phishing links, but we also have to be able to recognize well what a phishing link is and whether it is true that the link sent to our email is a phishing link so we won't get caught by it and it would be better if we don't use the main email which we usually use to register on exchanges to also be used to register on random websites because they can use our email by sending annoying things, and the best thing is to store our crypto in a hardware wallet if have one but not in an exchange or online wallet.

[crwth]

Personally, I would gladly help other people to have knowledge with possible scams and the necessary prerequisite towards securing your digital assets. I think once you have understood that, you will have a better gauge on what you should or should not do with your crypto assets.

[cryptomaniac_xxx]

What the author forgot is that there is a new scam going around called address poisoning attack. And it happened to me even. It’s only on the ETH and BSC chains.

Basically out of your address you will see a destination transaction. It will have the same first and last characters. However this transaction is not real. You will copy it by mistake and send money there thinking it’s to the same address as before. And it goes to the hackers. Basically very sneaky way of scamming people.

Yes, criminals are evolving too, now we have this so called poisoning attack and sooner or later it will be bold and dare and it will be huge.

But at least, if we educate our selves, maybe, just maybe we can prevent this kind of attacks and we always need to practice safety precautions as well so that we will not be another statistics in the world of scammers. And there is nothing than to learn everything right away in the beginning of our crypto journey and not when you have stacked a lot of coins because the feeling of losing everything could be devastated.