Be careful where you connect your wallet

[nakamura12]

If you really want to connect then you should just use a dummy wallet so that you won't lose any funds at all. In that way, you can still connect and never lose funds. The other one is you should never connect to anything that you aren't sure of or doesn't know anything about it because it could be a fake or clone site. One more thing, even legit sites have clones so better check carefully so that you won't connect to a fake site or a clone site.

[un_rank]

If some project owners were not outright scammers yet and you gave them easy access to $2 million, 99% of the time they would steal it. Using a wallet that holds that amount of crypto and handling it so carelessly is beyond comprehension.

If you must chase airdrops and gamble with new projects, do so with a wallet which does not hold any of your assets. The sum total of the wallet should be less than $500 at every point in time. The wallet should not also be on the device you store your assets.

- Jay -

[God bless u]

A master piece of negligence. How can you connect to a Third party not knowing what impact it will have on your crypto wallet or assets. Now he is saying that he is done with crypto it's not at all the fault of the wallet owners or the crypto space It's 100% the victim's fault. You have to be solely responsible for every piece of act you do on your phone.

The best way to ignore these kinds of mishaps is to have a spare phone in which you don't do such types of things. That phone will only be used for trading purposes not for a single thing out of trading. Especially if you're investing that much of the amount you need to go for a spare phone it's very important.

[Queentoshi]

• Try never to connect your wallet to any website, bot or dapp you do not trust

It is mostly newbies who make the mistake of connecting their wallets to unknown websites and links, because people who have invested a lot understand that keeping their wallet even away from a normal device that people normally use is a number one factor to ensuring safety. People also who do not have a sure way of getting Bitcoin are the ones who are inquisitive enough to try out new ways to earn by connecting their wallets to various address or options that they think that they will be able to earn Bitcoin from. Older investors who understand the method of dollar cost averaging will know that safety is paramount and will not want to risk their investment because they know a way of investing in Bitcoin that will be profitable for them.

[Outhue]

I know there have been several post about security and how to be protected in this digital space. Just to emphasize the importance of being careful, I am making this post to share a terrible experience of victim who lost $2m over a simple act of negligence or rather carelessness. I will say he played with $2m that is supposed to be saved a cold wallet that is disconnected from the internet.


Source: https://twitter.com/DeFiDownsin/status/1773655274005369305

I believe that post of victims such as this will make people take the security of their assets seriously. Please stay safe out there so you do not end up hating cryptocurrency in general.

Useful hints:

• Try never to connect your wallet to any website, bot or dapp you do not trust
• If you must connect your wallet to anywhere, ensure the balance in that wallet is something you can afford to lose
• watch out for phishing sites by properly scrutinizing the url of any website you visit so you avoid being a victim

This person isn't totally gone, he will be back, where else will he be able to recover what he has lost? There is nothing compared to crypto when it comes to making money, it's the best place to get back up on your feet unless you don't know what you are doing.

I was frustrated when I lost a good chunk of Bitcoin sometime in the past, I got mad that I stayed away from crypto for weeks before coming back, today I have made more than I lost then.

The advice I have for people on here is to never connect your crypto wallet to anything, whether it's a cold wallet or you are someone who can't afford a hardware wallet and only uses a software wallet, do not connect your wallet to anything.

Its only airdrop and testnet participants that must connect their wallet to anything and the smart ones always use a separate crypto wallet for airdrops, they don't use their actual crypto wallet for airdrops.

[Porfirii]

If you really want to connect then you should just use a dummy wallet so that you won't lose any funds at all. In that way, you can still connect and never lose funds. The other one is you should never connect to anything that you aren't sure of or doesn't know anything about it because it could be a fake or clone site. One more thing, even legit sites have clones so better check carefully so that you won't connect to a fake site or a clone site.

I wonder if the protagonist of our story was aware of the wallet he was using. Chances are that he was thinking that he was connecting through a dummy wallet. If that was not the case, then I'm afraid that the poor dummy was himself. Or millionaire, like someone said before.

Either way, good to remember: if you hodl, make sure that your funds are safu.

[Mpamaegbu]

what crazy person puts millions of dollars in a hot wallet and connects to a third party lol.

It's actually a crazy world. For civility sakes, let's say it's sheer carelessness that makes people do something as irrational as what happened. Otherwise, I would just put it as stupidity too. It's sad that people still get to lose their funds this way when they can easily get burner wallets to try these things out. It doesn't cost much time to create one. Just a few minutes.

Turns out there are also millionaires who are stupid. condolences to him.

Having loads of money doesn't bestow wisdom on people. Being wealthy doesn't also mean one is that smart. They could stumble on wealth through inheritance too. Does that also make them smart and rich? Of course, not.

[lalabotax]

Useful hints:

• Try never to connect your wallet to any website, bot or dapp you do not trust
• If you must connect your wallet to anywhere, ensure the balance in that wallet is something you can afford to lose
• watch out for phishing sites by properly scrutinizing the url of any website you visit so you avoid being a victim

That is an extraordinary amount for me, very unfortunate. It looks like he is really going to give up and be very bad with crypto experiences. In fact, maybe it was either his own fault or because he didn't understand the dangers of connecting wallets like that easily.

But it is true, in crypto, safety and security are very important and we will definitely continue to fight for it. For this reason, it is important to maintain privacy and asset security. So that we can at least minimize the risk of loss like that.

Connecting our main wallet to certain platforms / dApps or certain other websites is very dangerous. especially if the link we use is a phishing link from various promotions or emails. This would be very dangerous.

[Hamza2424]

<snip>

Whoops! This amount is really big the user has lost well in my point of view he/she lost it due to his wrong steps he/she must know that he is also living in the crypto space and holding that much big amount so he/she should take action accordingly. Well, if you are the kind of person who uses to connect his/her wallet at many places like at formation of airdrops tasks kind of stuff you should have a separate wallet for these kinds of activities as you are one wrong step is required to experience a null wallet that is why one should always think before taking any action in the crypto space.

On the other hand, one should keep disconnect his/her big wallet from the online world until he needs his/her funds in an urgent way and at that time must use your wallet at the right/trusted place. As these days are very tricky sometimes users get trapped by many tricks including dust attacks, phishing links, Loop whole apps/third party applications, and much other stuff we have to stay up to date to avoid these crypto attacks.

[Issa56]

I believe that post of victims such as this will make people take the security of their assets seriously. Please stay safe out there so you do not end up hating cryptocurrency in general.

Sometimes if you haven’t fallen victim, then you won’t learn to take your security serious, but if you have fallen victim, then you will learn to take your security serious, you will have to do more research just to learn about new things you don’t know about before, but if you haven’t lost money, you might not care about learning new things.

Some people lost interest in bitcoin and cryptocurrency In general just because of the mistake which they can avoid, and they decided to ignore it, so after falling victim, they will end up blaming bitcoin and cryptocurrency for their own mistake.

• If you must connect your wallet to anywhere, ensure the balance in that wallet is something you can afford to lose

Some people that do connect their wallet to websites are the ones participating in airdrops, if you Will be participating in airdrops, then make sure you create a new wallet for that, don’t use your main wallet for that, that’s the mistake some people do make, any wallet which you will be connecting to any website shouldn’t have any funds in it, incase if it gets hacked, their is nothing to drain from the wallet.[/list]

[Coyster]

This person isn't totally gone, he will be back, where else will he be able to recover what he has lost? There is nothing compared to crypto when it comes to making money, it's the best place to get back up on your feet unless you don't know what you are doing.

Does it really work that way, AFAIK, the industry is not a money making scheme and people do not just make money through crypto. The person would either have to use their money to buy coins and hodl, or buy coins and trade, the other option is if they have a skill they can offer and get paid in crypto. Sometimes the way people sound is misleading and it can make others get the wrong picture about the industry. If this person has lost all their money and does not have a skill to offer, then how can he make money directly from crypto.

[SATWAT]

If some project owners were not outright scammers yet and you gave them easy access to $2 million, 99% of the time they would steal it. Using a wallet that holds that amount of crypto and handling it so carelessly is beyond comprehension.

If you must chase airdrops and gamble with new projects, do so with a wallet which does not hold any of your assets. The sum total of the wallet should be less than $500 at every point in time. The wallet should not also be on the device you store your assets.

- Jay -

This is the best idea to use new wallets instead of going with your wallet which is having funds because this is clearly scammers heaven and things can go worst for anyone who is going to do things like these which are harmful for him.
Sometime back I read on social media as one person lost his huge funds just because of these airdrops which he was chasing with his wallet and someone steal his all funds during this with no return for him and then his life was also ruined due to this mistake because this was huge amount which he was using for many things and suddenly lost this all.

[Darker45]

Or how about we don't just believe right away whatever is written, shared, and posted on social media? How about we try to verify first whether it's indeed true or not?

After all, the poster didn't even provide further explanation or details as to what really happened. The poster didn't even say that his/her wallet is drained after connecting it to a website.

Who knows, those who commented that the poster is merely "engagement farming" or that it's a "troll" account or it's simply "clickbait" could be right?

[BitPioneer]

I find it perplexing that someone would entrust millions to a hot wallet connected to a third party. These occurrences are disheartening, especially considering the risks involved. It's baffling that even experienced individuals overlook the vulnerabilities of hot wallets. My condolences go out to him.

[Ultegra134]

Is that through the Metamask wallet, or am I mistaken? Not that it matters anyway; he shouldn't have had two million dollars worth of crypto in a single wallet. However, that's an extravagant amount of money to lose. It doesn't matter if the person was negligent; it's still a huge shame and a burden that he'll carry for the rest of his life, unless he's really wealthy and doesn't care, which I find unlikely. I personally would be pissed at any amount lost that way, and depending on the amount, I'd think of it from time to time and still be pissed off.

Unfortunately, the internet is full of scammers; it's not solely on cryptocurrencies, and I too nearly fell victim to one a few years ago when I connected my wallet to a phishing website. Fortunately, I realized it immediately and moved my funds. To be honest, this is my biggest fear. This should be a lesson to never connect your wallet to unknown sources, and if you're participating in any airdrops whatsoever, have a second wallet solely for these activities, not to mention not keeping all your funds in one wallet.

[Agbe]

There are many websites when you registered with them, they would asked you to connect your wallet either to play gamble or buy bitcoin or other altcoins. And once I see such website or casinos even though I have registered , I would leave the website or uninstall the app id it is an app. Then unsubscribe from their services to free myself from receiving emails from them. I am always protective. I like to associate my wallet to any of those "connect your wallet" sites because I don't know what is in their mind. Op this information will be an another reminder to me to protect my wallet and secure them well.

[Patrol69]

We must be very careful about this because for a small amount of money we can lose everything unless we are careful about this. Many times it is seen that we need to connect the wallet to work on some giveaways or some campaigns but many times we connect the wallet without any verification to all these sites without realizing it. We may connect the wallet naturally and normally but many of us may not know that when we connect the wallet, the access to our wallet goes to the third party. If we accidentally connect our wallet to the wrong side, the fraudster will steal all our money in no time. So, without being too greedy about these things, first we have to keep the amount of money in our wallet safe, in that case, we have to refrain from connecting our wallet to any normal site without a verified site.

[uchegod-21]

what crazy person puts millions of dollars in a hot wallet and connects to a third party lol. It's very unfortunate that incidents like this keep happening, in fact they are not newbies and should really understand that hot wallets are very vulnerable to being hacked, this is plus they are connected to third parties. Turns out there are also millionaires who are stupid. condolences to him.

What made you think that the person that made the mistake isn't a newbie? Is it because of the amount involved. Even newbies could be so much rich. One thing about cryptocurrency is that if you are not careful enough, you could make some mistakes that are laughable. He might have thought of the stress of moving it to cold wallet or has been procrastinating. But where I blame him completely is connecting the wallet with such capital to random websites. Sometimes people who has enough don't value it while some look for little.

[Ojima-ojo]

For large funds, avoid third party wallet connection or any third party application at all, the guy really hard and ugly own share from cryptocurrency, but this time is as a result of his own negligence, for God sake how can anyone store about $2million on a third party wallet and being comfortable enough to connect to other third party networks, although we can't say that the hack came in from the network he connected to since he had a telegram bot on.


That both is capable of stealing any information from your internal storage and also steal your screen inputs such as password and the rest.

[2Pizza410000BTC]

I know there have been several post about security and how to be protected in this digital space. Just to emphasize the importance of being careful, I am making this post to share a terrible experience of victim who lost $2m over a simple act of negligence or rather carelessness. I will say he played with $2m that is supposed to be saved a cold wallet that is disconnected from the internet.


Source: https://twitter.com/DeFiDownsin/status/1773655274005369305

I believe that post of victims such as this will make people take the security of their assets seriously. Please stay safe out there so you do not end up hating cryptocurrency in general.

Useful hints:

• Try never to connect your wallet to any website, bot or dapp you do not trust
• If you must connect your wallet to anywhere, ensure the balance in that wallet is something you can afford to lose
• watch out for phishing sites by properly scrutinizing the url of any website you visit so you avoid being a victim

Thank you so much for discussing something important about caution. In fact people lose their wealth and money only because of their negligence. The person you quoted here should have used a hardware wallet for the amount of money you have quoted here and should have used the wallet in such a way that no one could somehow steal or hack his wallet seed phrase. If I had this amount of money here, I would definitely buy a hardware wallet and I wouldn't use it to hold this investment. However, every investor and user should be careful that the wallet holding the investment cannot be connected to many places and should completely refrain from doing airdrop campaigns. Because most users and investors get hacked wallets to tread carelessly and join some scam airdrop campaigns.