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Safeguarding your crypto-holdings against theft: what you need to do

By Zachklish | Ekunmitidayo | 31 Mar 2020


There has been a high rate of recorded thefts in recent times of the cryptocurrency holdings; either you own some bitcoins, ripple XRP, ethereum or Litecoin. It is imperative you safeguard it against theft.

Just recently a covid-19 victim loss about 14000 XRP, this worth about $2.423 to a fraudulent phishing scam. According to reports, she downloaded and used a ledger live extension from the web.

This single mistake of her got her treasure carted away within minutes. Similarly, there was a report of a twitter user, who recently lost about 16000 ZEC to the same form of scam.

With this few cited examples of victims, it will be important to point out that there are various form of scams out there on cyberspace. Hence it becomes necessary to be cautious in all dealings. 


What can you do to be safe?

At this pressing time when cybercrime is in top gears it is very important that you watch your investments closely, ensure you do not divulge important information to a stranger.

Beware of ledger live extensions, there are numerous ledger live extensions whose jobs are to steal people’s investments, they are fake and the majority of the leading hardware wallets warns against them.

If you must use a ledger live extension, ensure you know the source before downloading and inputting your information. Do not engage in trades with shallow details.

Stay safe and stay guided thanks for reading.

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