This is why scammers keep increasing in numbers

[Cookdata]

Such a huge amount of money to be lost, i am not comfortable send such an huge amount of money from my wallet instead i will transfer it bit by bit, in that way, you don't need to lost much, no matter the mistake, and again keeping such huge amount of money on a wallet is very risky and easy for scammers to move, he should have separated them to different wallet to avoid situations like this . It is therefore advisable not to put huge amount of money on a particular wallet.

Most of this accident, they don't see it coming but curiosity in me wouldn't let me move all the money at once. However, I don't know how you plan to move $50M with multiple transactions and how small do you try to send the money in batches. If you are sending 10 transaction and you split $1m into it, I'm sure before that transaction completed, the exchanges are likely going to question you why you decide to send those transactions. Have you even thought the amount, $100k x 10 is $1m, that alone can satisfy scammer.

You want to avoid this kind of problem, use wallet without point of failure, that's the only way can be free from problem like this. Use an airgap wallet, but one if you have the money or build one and DIY of an airgap device, your PC can do it but you will never be able to connect your PC to the internet ever again. The moment you do it, consider your wallet as hot wallet and that's very risky thing to do. Malware can only get into a computer that has an internet, no internet no problem.

[AVE5]

I still believe that laptops, PC and android phones are a bad way of storing cryptocurrency, most of the time when these devices are infected you won't know, I believe this is what happened to this victim, he should have gotten a hardware wallet rather, to send coins you don't even need to copy paste.

You're actually contradicting but I'm with you.
If you're talking about vulnerabilities of type of crypto storage system, you must agree with me that as much as no digital device is guaranteed of incorruptible because they're either made hardware with mechanical factors and the software crypto storage system and are all exposed to risks either by mechanical malfunction or corrupted components and the risk of internet fraudsters hunting in the internet.
Although the risks of hardware is lesser to the mobile or software wallets because, the most common way to loose your crypto to scam is by troubleshooting targets with through phishing files to break your privacy. So it almost feels wallets that're active connected in the internet is bound to be more vulnerable of one loosing it funds.

[Youngrebel]

Losing money to scammer is extremely painful and what you have described is typical tric. These scammers make up fake addresses that appear nearly same as yours and trick people who only look at first and last few characters of their address before sending them. To avoid this, Hardware Wallet is best solution since it has its own physical screen that shows real address and it is impossible to be fooled by computer virus. Although it is risk to lose money in market trades but it is security error to lose all money in scam that can be stopped with help of right tools such as QR codes and physical checking. Carrying big sum of money in regular phone or regular computer is just too risky and only way to be sure that we are safe is to do something with better hardware.

Some of these issues of scams that happen too are really marvelling.  If this said guy was trading and  maybe wants to make an investment  do the really release the coins without verifying payments ? Or id he was transferring his bitcoin from his own address to another of his address and scamers detected, encroached and sent a different address? Sometimes just imagine how these cases of scams happen.  I can just imagine the amount of pain this person must be passing through.

[SandroVen1]

I still believe that laptops, PC and android phones are a bad way of storing cryptocurrency, most of the time when these devices are infected you won't know, I believe this is what happened to this victim, he should have gotten a hardware wallet rather, to send coins you don't even need to copy paste.

Although the risks of hardware is lesser to the mobile or software wallets because, the most common way to loose your crypto to scam is by troubleshooting targets with through phishing files to break your privacy. So it almost feels wallets that're active connected in the internet is bound to be more vulnerable of one loosing it funds.

I agree with this 100%. That’s exactly the issue, wallets that are constantly connected to the internet are simply exposed to more attack surfaces. Phishing, malicious files, fake updates, and clipboard hijacking are still among the most common ways people lose funds, and many users don’t even realize their device has been compromised.

Hardware wallets significantly reduce this risk because the private keys never leave the device and transactions have to be physically confirmed. Even if a computer or phone is infected, the attacker still can’t sign a transaction without user approval on the hardware wallet itself.

That said, hardware wallets aren’t a complete solution on their own. Users still need good habits: verifying addresses on the device screen, being careful with downloads and extensions, and avoiding rushed transactions. Most crypto losses happen at the human layer, not because the blockchain failed.

Security is really about reducing exposure wherever possible, and minimizing online interaction with private keys is a big part of that.

[AmaGold70]

Because of the huge amount of money some of these scammers make from their victims, some people probably those that are used to operating computers, and diving deep into the Internet keep joining the queue. It is necessary as the scammers keep increasing in numbers, and techniques, investors should also learn about extra security measures to keep their investment safe. There are those who hijack clipboard, which is one of the reasons you loose your investment, and send your cryptocurrency to an unknown address. It happened to me before when I tried to copy and paste a wallet address, and I never I have pasted the wrong address, it actually looked similar but was not the same. So if you must use your phone or laptop during any Bitcoin or cryptocurrency transactions ensure the wallet address is properly scrutinized to avoid sending it to a different person.

[SquirrelJulietGarden]

It is necessary as the scammers keep increasing in numbers, and techniques, investors should also learn about extra security measures to keep their investment safe.

With time, the world population become bigger and the Bitcoin adoption is bigger too so it will naturally be a more favorite place for scammers. Bitcoin growth & adoption, cryptocurrency market blossom mean there will be more people in this industry including more scammers.

There are those who hijack clipboard, which is one of the reasons you loose your investment, and send your cryptocurrency to an unknown address. It happened to me before when I tried to copy and paste a wallet address, and I never I have pasted the wrong address, it actually looked similar but was not the same. So if you must use your phone or laptop during any Bitcoin or cryptocurrency transactions ensure the wallet address is properly scrutinized to avoid sending it to a different person.

A big thread about scams [General] Crypto scams, attacks and malware.

Checking everything before broadcasting your transaction will reduce risk, and if you do a small transaction to test whether your device is safe or compromised, you will less likely lose big fund. If a small testing transaction goes well, it's less likely that the device is compromised and wait for your big transaction broadcast to steal your coin.
How to lose your Bitcoins with CTRL-C CTRL-V

[Ojima-ojo]

When few weeks back my friend contacted me that his Solana got drained the moment he deposited it into his wallet, the first question I put up to him is to confirm if his wallet were connected to any of those airdrop contracts or anything wallet Spam attempts in recent time.


He was lucky the amount is small amount around $120, but in this guy own case, is quite unbearable to think that he lost $50 million from wallet poisoning, but someone with such amount of money shouldn't allow his wallet to be single-signature in the first place, or keep such an amount in one single wallet or device.

[B-BossMan]

Because of the huge amount of money some of these scammers make from their victims, some people probably those that are used to operating computers, and diving deep into the Internet keep joining the queue. It is necessary as the scammers keep increasing in numbers, and techniques, investors should also learn about extra security measures to keep their investment safe. There are those who hijack clipboard, which is one of the reasons you loose your investment, and send your cryptocurrency to an unknown address. It happened to me before when I tried to copy and paste a wallet address, and I never I have pasted the wrong address, it actually looked similar but was not the same. So if you must use your phone or laptop during any Bitcoin or cryptocurrency transactions ensure the wallet address is properly scrutinized to avoid sending it to a different person.

You have a nice point here, many of us are still not learning from past mistakes, that why the numbers of scammers today keep increasing the more, same as the numbers of victims. But even moving a huge amount of bitcoin like this is very risky to some extent, if at all, I would prefer to splitting the money by sending them in small amounts, that alone will help us to cross checks the receivers wallet address if it's correct or not, but again we cannot be 100 percent sure that our money is safe that way, moreover the most relevant things to do is to be security conscious, whenever we are dealing with such huge amounts of money or wants to make a huge transactions, our seedphrase can be expose being it online or offline so we just need to be careful on how we expose our privacy.

[Nathrixxx]

A Golden hit ( Stolen ) like this will keep motivating these scammers, this is someone's life time savings been robbed in a matter of minutes. I feel sorry for this person, even though I have lost thousands this year but it's never this way, not to scammers but altcoin investments.

Those altcoins you see are also part of the scam strategy, they will make the hype for you to see opportunities by considering for the investment on their project and later disappoint you, there are so many coins out there that should not be considered for any reason because those behind it are true scammers, the only wanted to lure and deceive potential investors who will be careless and lace informed, invest on projects that result to loss for them.

[MusaPk]

You have a nice point here, many of us are still not learning from past mistakes, that why the numbers of scammers today keep increasing the more, same as the numbers of victims. But even moving a huge amount of bitcoin like this is very risky to some extent, if at all, I would prefer to splitting the money by sending them in small amounts, that alone will help us to cross checks the receivers wallet address if it's correct or not, but again we cannot be 100 percent sure that our money is safe that way, moreover the most relevant things to do is to be security conscious, whenever we are dealing with such huge amounts of money or wants to make a huge transactions, our seedphrase can be expose being it online or offline so we just need to be careful on how we expose our privacy.

It's just our casualness that we are not willing to pay attention to incidents of pasts and take security only serious when an incident happen to us but its too late by then. Majority of incidents happening today can easily be avoided if we all start taking security seriously from day one. One don't need to have high technical skills in order to secure his crypto assets, taking few simple steps can save you from big loses. You mentioned a good strategy that if we have to send a huge amount of Bitcoins then sending in small chunks is a better option because it will first help us in confirming that Bitcoins are going to correct address and subsequently we can keep confirming that Bitcoin are received or not.   

[moneystery]

...
So if you must use your phone or laptop during any Bitcoin or cryptocurrency transactions ensure the wallet address is properly scrutinized to avoid sending it to a different person.

It is recommended to double-check the wallet address before sending because malware or missing characters during the copy-and-paste process could cause you to send your funds to the wrong address.
What you need to do isn't difficult at all. You just need to check the first 10 and last 10 characters of the wallet address. Make sure that it is correct and once you've confirmed that everything is correct just continue. It only takes a few seconds, but it can help you avoid sending your funds to the wrong address.

[AVE5]

When few weeks back my friend contacted me that his Solana got drained the moment he deposited it into his wallet, the first question I put up to him is to confirm if his wallet were connected to any of those airdrop contracts or anything wallet Spam attempts in recent time.


He was lucky the amount is small amount around $120, but in this guy own case, is quite unbearable to think that he lost $50 million from wallet poisoning, but someone with such amount of money shouldn't allow his wallet to be single-signature in the first place, or keep such an amount in one single wallet or device.

You didn't conclude the story about that your friends incident. Maybe newbies could learn from the experience while the amount involved in the may not really be necessary.
Some fellows too may have this wrong mindsets of using the same wallet that may have had some loopholes from its previous uses such as the airdrop projects because, such means could be used as an opportunity for scammers to launched their tricky plans in other to grab the user's data's or get access to their wallet address.
So i think discussing about how to identify your risk factors and security of wallets should be more of our interests here than just being emotional for loosing of huge amount of money as thought.
If the $50,000 000 lost victim had really been careful enough with his wallet and device privacy and storing private keys offline, I wouldn't be an error at all. The single signature isn't bad at all.

[puloweh555]

It's just our casualness that we are not willing to pay attention to incidents of pasts and take security only serious when an incident happen to us but its too late by then. Majority of incidents happening today can easily be avoided if we all start taking security seriously from day one. One don't need to have high technical skills in order to secure his crypto assets, taking few simple steps can save you from big loses. You mentioned a good strategy that if we have to send a huge amount of Bitcoins then sending in small chunks is a better option because it will first help us in confirming that Bitcoins are going to correct address and subsequently we can keep confirming that Bitcoin are received or not.   

Many people still often ignore lessons or experiences from past fraud cases, so the number of scammers and victims keeps increasing. These two things can be said to always go hand in hand, so knowledge about proper asset protection is very important whether it's wallet security or during transactions.

Yes. Sending a large amount of Bitcoin all at once is indeed risky; it's better to send smaller transactions first to make sure the address we're sending to is correct. We always have to be careful especially about keeping our seed phrase safe because scammers will never disappear especially in the crypto world where there are always newcomers and of course, there are always careless people. So every fraud case that happens and is shared in this forum should serve as a reminder for us to be more cautious.

[Patrol69]

This kind of mistake is actually made when you are in a hurry and since the fraudsters have changed their fraud tactics with the changing times, the user has to be on the highest alert otherwise your hard earned money can go to the fraudster at any time. What happened here is really sad and I would say that it was actually a lack of patience, the user's indifference to check multiple times which is why this happened. It is difficult for me to accept that he is sending such a large amount and he does not have the patience to check multiple times.

[Ishicryptic]

...
So if you must use your phone or laptop during any Bitcoin or cryptocurrency transactions ensure the wallet address is properly scrutinized to avoid sending it to a different person.

It is recommended to double-check the wallet address before sending because malware or missing characters during the copy-and-paste process could cause you to send your funds to the wrong address.
What you need to do isn't difficult at all. You just need to check the first 10 and last 10 characters of the wallet address. Make sure that it is correct and once you've confirmed that everything is correct just continue. It only takes a few seconds, but it can help you avoid sending your funds to the wrong address.

The process of double checking or even tripple checking an address before sending is very essential, it is a simple thing to do but ignoring it can cost you a lot especially for those that are sending large amounts of cryptocurrency. Sparing a few minutes is all it takes to make a quick check and even to recheck, if you have heard how many crypto holders who have made this mistake you will think twice about being in a hurry to send your coins. It is likewise important to note that the crypto space is full of hackers and scammers, these criminals have a lot of ways that they can use to hack into your online devices to steal your coins so being informed and protecting your coins should be important to you. For large amounts of cryptocurrency it is better to priotize hardware wallets instead of relying on hot wallets which can be hacked.

[SuperBitMan]

This kind of mistake is actually made when you are in a hurry

You are absolutely right, the reason why people are making mistake when it comes to address is because they are in a hurry, when you are in a hurry you will definitely make mistakes and that is why it is good to relax and calm your spirit and mind when doing an online transaction, if you notice you are in a hurry do not do any online transaction. Do whatever you wanted to do and then when you are done you can come back to run the online transaction, if it is something that you really want to do because it is important then when doing it make sure you are well relaxed.

Some people are just impatient naturally, they do things very fast and this set of people are the ones that usually make this kind of mistake.

[Aanuoluwatofunmi]

The moment someone scammed and end up getting away with it, he will be motivated to do another one the second time and by then it will be with another strategy more advanced than the former one he adopted, this is why any kids that has to do with scam related offenses must not be taken for granted who with a cold and, the most face the law and Justice must be made, this will teach others lesson when they see the repercussion of what they did.

[Berry2d]

This kind of mistake is actually made when you are in a hurry and since the fraudsters have changed their fraud tactics with the changing times, the user has to be on the highest alert otherwise your hard earned money can go to the fraudster at any time. What happened here is really sad and I would say that it was actually a lack of patience, the user's indifference to check multiple times which is why this happened. It is difficult for me to accept that he is sending such a large amount and he does not have the patience to check multiple times.

Yes it was because of lack of patient if not this lost won't have been incurred,  its indeed heartbreaking seeing such terrifying lost at this hard time. Although I won't blame the scammed for not been patient enough because the level at which this scammers are operating is way above expectations.
Just like one incident I encountered while using a traditional banking system years passed,  then the bank manager saw a pending notification that pup up in his screen waiting for approval inform of virus notification, all thanks to God he didn't accept it because people from  the other bank experienced it and indirectly authorised it and lost their money, so it may be that something like that happened before the lost because this scammers thinking is way much deeper than we expect.

[Fiasem20]

The issue of cross checking an address is quite important in the crypto space,this mistake is often made in the traditional banking system.Most people here have experienced the mistake of sending a money to a wrong account number and only for them to cross check the account they sent to the money to and it isn’t corresponding with that of the person they wanted to send the money to.So in my own opinion this is a common mistake people make almost everyday if I’m not mistaking,always cross check an address multiple times before sending your coins and not after sending.That amount is quite a huge amount of money and I feel sorry for the victim,the more scammers keep increasing the more we need to become updated in the security aspect.

[Big Dirams]

The issue of cross checking an address is quite important in the crypto space,this mistake is often made in the traditional banking system.Most people here have experienced the mistake of sending a money to a wrong account number and only for them to cross check the account they sent to the money to and it isn’t corresponding with that of the person they wanted to send the money to.So in my own opinion this is a common mistake people make almost everyday if I’m not mistaking,always cross check an address multiple times before sending your coins and not after sending.That amount is quite a huge amount of money and I feel sorry for the victim,the more scammers keep increasing the more we need to become updated in the security aspect.

When it comes to laziness some people are too good with that even when it comes to finances and anything important the laziness is always in them. Some people can tell you that they can’t keep checking address multiple times and that just because it kinda stressful to them and they are too lazy. But somethings are meant to be done in the right way or else we will face the consequences of our own actions.
Mistakes are bound to occur to anyone even after being too careful but at-least we should always clear our conscious and make sure we cross check the address we want to send money too multiple times and even if mistakes occur then we will take is as fate because we did cross checked.