Why Technical Knowledge Alone Does Not Protect People From Scams.

[Shussainshah]

Can you guys believe that I had the same argument with someone I met at a beer parlor today, and this person strongly disagreed with me that it is not possible to scam someone who is technically skilled. As for person, anybody can be scam whether you are technically skilled or not.

The only thing is, someone who is technically skilled is less likely to be scammed through technical attacks, but that doesn't mean the the person is immune to scams, because technically skilled people can still be scammed through social engineering, emotional manipulation or other non technical scams.

Hacker are smart to manipulat you easily and they are trying new techniques every single day they use social engineering and some time if you are smart to know the social engineering then they start manipulating you. So be aware of any DM you receive verify it first and then if you have doubt then block them otherwise the scammar use this trick to manipulat you easily they are very smart to use the emotional manipulation technique very well and most of the people are caught scam there.

[Sticky Bomb]

Can you guys believe that I had the same argument with someone I met at a beer parlor today, and this person strongly disagreed with me that it is not possible to scam someone who is technically skilled. As for person, anybody can be scam whether you are technically skilled or not.

The only thing is, someone who is technically skilled is less likely to be scammed through technical attacks, but that doesn't mean the the person is immune to scams, because technically skilled people can still be scammed through social engineering, emotional manipulation or other non technical scams.

Hacker are smart to manipulat you easily and they are trying new techniques every single day they use social engineering and some time if you are smart to know the social engineering then they start manipulating you. So be aware of any DM you receive verify it first and then if you have doubt then block them otherwise the scammar use this trick to manipulat you easily they are very smart to use the emotional manipulation technique very well and most of the people are caught scam there.

The truth is that every good offer that comes to your table must be treated as hostile until it is proven safe, we must be wary of strangers who present them, So when good offers comes from a stranger out of nowhere, it is a possible scam. Technically skilled people are scammed the technical way just like the co-founder  of Thorchain JP (John-Paul Thorbjornsen), who lost $1.35 through a wallet drain that happened when he entertained a fake zoom meeting from a compromised telegram account.

Another very helpful tip to stay much ahead is specificity. Having devices dedicated to everyday use and a separate one for financial dealings helps to a great extent not to be an easy target to social engineering attempts.

[AmaGold70]

It's simple: if someone doesn't understand something, doesn't understand what it's about, then you don't need to have any connections with what interests them until they figure out the details. Example: a fraudulent project promises incredible profits. A greedy person will immediately decide to invest, without having any experience or knowledge of how to understand exactly what a scam project is or isn't. What is his mistake? That, first of all, he is greedy, stupid, and impatient. Anyone who wants to know about something is not in a hurry; he is careful, he is skeptical, and he parts with his money after checking all the red flags several times. Haste is needed when there are lice in the head. In all other cases, it is necessary to check everything carefully, even with technical and non-technical knowledge.

Many factors contributes to the reasons why people are being scammed, lack of technical knowledge, and another factor is carelessness from an investor because high percentage of losses that people experience is actually their own fault. Like you mentioned when a project come onboard it is important for you to analyze the project critically if it relies mainly on hype or has true potential for growth, you do this by knowing the people in the project team, and their own experience, and expertise in developing such project, finding out such information will save you from getting involved into scam projects.
Another thing is your source of information, on the social media many things happen as some even seek for information on telegram where many are being scammed, and seeking for assistance on social media instead of more reliable source.

[Crytohillss]

It's simple: if someone doesn't understand something, doesn't understand what it's about, then you don't need to have any connections with what interests them until they figure out the details. Example: a fraudulent project promises incredible profits. A greedy person will immediately decide to invest, without having any experience or knowledge of how to understand exactly what a scam project is or isn't. What is his mistake? That, first of all, he is greedy, stupid, and impatient. Anyone who wants to know about something is not in a hurry; he is careful, he is skeptical, and he parts with his money after checking all the red flags several times. Haste is needed when there are lice in the head. In all other cases, it is necessary to check everything carefully, even with technical and non-technical knowledge.

Many factors contributes to the reasons why people are being scammed, lack of technical knowledge, and another factor is carelessness from an investor because high percentage of losses that people experience is actually their own fault. Like you mentioned when a project come onboard it is important for you to analyze the project critically if it relies mainly on hype or has true potential for growth, you do this by knowing the people in the project team, and their own experience, and expertise in developing such project, finding out such information will save you from getting involved into scam projects.
Another thing is your source of information, on the social media many things happen as some even seek for information on telegram where many are being scammed, and seeking for assistance on social media instead of more reliable source.

So many scams succeeded just because people jump in without going for proper investigation they depend on the information they get from other people. Searching for actual knowledge it is very important one of the factor is social media they're filled with fake information and so many people are decieved after listening to their idea, until they realise that fake information can tend to lead to investment failure. So if many are being decieved and asking for help in the social platform it is very important to be very careful if it involves money.

[Supreme Donvic]

It's simple: if someone doesn't understand something, doesn't understand what it's about, then you don't need to have any connections with what interests them until they figure out the details. Example: a fraudulent project promises incredible profits. A greedy person will immediately decide to invest, without having any experience or knowledge of how to understand exactly what a scam project is or isn't. What is his mistake? That, first of all, he is greedy, stupid, and impatient. Anyone who wants to know about something is not in a hurry; he is careful, he is skeptical, and he parts with his money after checking all the red flags several times. Haste is needed when there are lice in the head. In all other cases, it is necessary to check everything carefully, even with technical and non-technical knowledge.

Many factors contributes to the reasons why people are being scammed, lack of technical knowledge, and another factor is carelessness from an investor because high percentage of losses that people experience is actually their own fault. Like you mentioned when a project come onboard it is important for you to analyze the project critically if it relies mainly on hype or has true potential for growth, you do this by knowing the people in the project team, and their own experience, and expertise in developing such project, finding out such information will save you from getting involved into scam projects.
Another thing is your source of information, on the social media many things happen as some even seek for information on telegram where many are being scammed, and seeking for assistance on social media instead of more reliable source.

So many scams succeeded just because people jump in without going for proper investigation they depend on the information they get from other people. Searching for actual knowledge it is very important one of the factor is social media they're filled with fake information and so many people are decieved after listening to their idea, until they realise that fake information can tend to lead to investment failure. So if many are being decieved and asking for help in the social platform it is very important to be very careful if it involves money.

I remember sometime ago when I saw an information on social media concerning a particular business I wanted to go into, after listening to the person on social media I decided to reach out to him, if not for God I would have been scammed. After this incident that happened to me, whenever I see any information online especially on social media or whenever I want to know about something, I don't just believe the information I see on social media I usually go on research.
If you want to know about any particular thing, the best thing to do for yourself is to go for a proper research, don't rely on any information online or on social media alone.

[Danish Ali]

This week Coldcard hack is a perfect example, tech smart users lost money because they were unable to see the weak spot. Tricked victims are not like that, way of attack was always there, but mindfully ignored.
Probably the best weapon that scammers have is urgency. It almost never goes through careful thinking, no matter how technical you are. Unlike lack of technical knowledge, "act now or lose everything" shuts down clear thinking.

[Su-asa]

There are different types of scams in the crypto space, both knowledgeable and non knowledgeable people can become scam victims if they are greedy. Greed is the number one reason why many people get scammed out there. For instance someone DM you with a fake profile and offers too good to be true stories and investment plans, out of greed and curiosity you will definitely fall into in if you are the greedy type. Another big mistake people make us that they pay too much attention to what the scammer had to say, at first you should know that they are scammers because they messaged you and start telling you stories. Remember that people will not share any legit investment plan to you randomly, so that alone should be enough reasons for you to know that the messages you receive are from scammer.
So my point here is that anyone can be scammed so long as they have greed in the, no matter how smart you are, if you are greedy you will make different types of mistakes.

[khaled0111]

Technical knowledge can help protect you from being scammed but it isn't enough. For better safety, you also need to be smart and use common sense.

Scammers, especially those who are good at and master social engineering can be very smart. Some of them are so smart that they can use your own technical knowledge against you. They will exploit your overconfidence (thinking you are safe because you have technical knowledge) and use it against you.

[Patikno]

Technical knowledge can help protect you from being scammed but it isn't enough. For better safety, you also need to be smart and use common sense.

Scammers, especially those who are good at and master social engineering can be very smart. Some of them are so smart that they can use your own technical knowledge against you. They will exploit your overconfidence (thinking you are safe because you have technical knowledge) and use it against you.

On reflection, maybewe can distinguish between technical, and non-technical knowledge.

Technical knowledge is usually necessary to guard against fraud or hacking, but it is limited to the technical aspects of security. However, scammers have numerous ways to lure potential victims, and the most common method is an emotional appeal. Scammers frequently use this tactic to deceive targets, often tricking them into unwittingly compromising their own security, whether by dangling an offer that seems "too good to be true", or by creating a false sense of urgency. That is precisely when scammers typically strike.

Therefore, I believe that technical knowledge alone is insufficient to protect yourself from fraud or hacking. You also need to understand non-technical factors, and familiarize yourself with the methods scammers use. By doing so, you will recognize their deceptions, and be better equipped to protect yourself against such crimes.

[As-Soon-As]

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Having technical knowledge is definitely important, but you cannot avoid being cheated by people who are greedy. Because if they fall into the trap of cheaters out of greed, you cannot protect them on your own, but if you are regular in this forum and watch it, you can definitely protect yourself from being hacked by having technical knowledge.
It is necessary to be experienced and skilled in technical knowledge, everyone in this forum is quite aware of this. However, I think it is reasonable for every person to have experience in technical aspects.

[PX-Z]

Understanding how wallet works, and how signature and blockchain transactions work is perfectly ok, but it doesn't prevent you from being manipulated. So, feel free to give your 2 cents on this discussion.

Having technical knowledge is definitely important, but you cannot avoid being cheated by people who are greedy. Because if they fall into the trap of cheaters out of greed, you cannot protect them on your own, but if you are regular in this forum and watch it, you can definitely protect yourself from being hacked by having technical knowledge.
It is necessary to be experienced and skilled in technical knowledge, everyone in this forum is quite aware of this. However, I think it is reasonable for every person to have experience in technical aspects.

Simply put, technical knowledge is too different from personal greed as well as hackers are different from scammers although their ways almost identical, but their purpose is the same, to get your funds or information.
So you don't need to have technical knowledge to avoid scams. But having technical knowledge already is a shame if you don't have the very basic knowledge to avoid scams.

[suhadi88]

This week Coldcard hack is a perfect example, tech smart users lost money because they were unable to see the weak spot. Tricked victims are not like that, way of attack was always there, but mindfully ignored.
Probably the best weapon that scammers have is urgency. It almost never goes through careful thinking, no matter how technical you are. Unlike lack of technical knowledge, "act now or lose everything" shuts down clear thinking.

Yeah. We were also influenced by recommendations from others who had previously used their storage services, noting that the experience was safe and trouble-free. Based on that feedback, we didn't hesitate to decide to store a portion of our assets with them.

Now, a new company has emerged offering similar services, claiming to be superior and capable of preventing such incidents from happening again. However, the nature of thieves is such that if one path is blocked, they will find another way in—even if it means squeezing through a hole in the ceiling. The same type of incident will likely occur, just in a different form.

[Venux]

This week Coldcard hack is a perfect example, tech smart users lost money because they were unable to see the weak spot. Tricked victims are not like that, way of attack was always there, but mindfully ignored.
Probably the best weapon that scammers have is urgency. It almost never goes through careful thinking, no matter how technical you are. Unlike lack of technical knowledge, "act now or lose everything" shuts down clear thinking.

I don't completely agree. Urgency can certainly be a powerful weapon for scammers, but the Coldcard incident was not caused by any hasty decision. As far as I can tell from reading the news and websites, random data was not used to create the seed phrase due to a bug. This is why hackers created a possible seed phrase and hacked. The victims here did not click on the link in a hurry, nor did they fall victim to any phishing. They were hacked even when they were offline. However, this incident makes us aware enough and those who are big holders should be careful and hold Bitcoin. And divide Bitcoin in several wallets.