Crypto phishing scams: How users can stay protected
In the fast-paced and ever-evolving world of cryptocurrency, where digital assets are exchanged, and fortunes can be made, a lurking danger threatens the safety of both seasoned investors and newcomers alike: crypto phishing scams.
These schemes are designed to exploit the trust and vulnerability of individuals, aiming to trick them into revealing their sensitive information or even parting with their hard-earned crypto holdings.
As the popularity of cryptocurrencies continues to rise, so does the sophistication of phishing techniques employed by cybercriminals. From impersonating legitimate exchanges and wallets to crafting compelling social engineering tactics, these scammers stop at nothing to gain unauthorized access to your digital assets.
Malicious actors use different methods of social engineering to target their victims. With social engineering tactics, scammers manipulate users’ emotions and create a sense of trust and urgency.
Eric Parker, CEO and co-founder of Giddy — a noncustodial wallet smart wallet — told Cointelegraph, “Did someone reach out to you without you asking? That’s one of the biggest rules of thumb you can use. Customer service rarely, if ever, proactively reaches out to you, so you should always be suspicious of messages saying you need to take action on your account.”
“Same idea with free money: If someone is messaging you because they want to give you free money, it’s likely, not real. Be wary of any message that feels too good to be true or gives you an immediate sense of urgency or fear to make you act quickly.”
One common technique used in crypto phishing scams is impersonating trusted entities, such as cryptocurrency exchanges or wallet providers. The scammers send out emails or messages that
Read more on cointelegraph.com
