It is nothing new for investors in the cryptocurrency market that there are scams related to this, which sometimes end up managing to divert all available funds in victims' wallets. In late 2021, for example, a scam involving a token named after one of the largest cryptocurrency wallets on the market, MetaMask, managed to steal the private keys of many users of this platform.
Despite being a constant practice and every day scammers use more sophisticated techniques to practice scams, it is possible to take some attitudes that are able to reduce the risk that you fall into this type of scam. Below you will see some simple steps that can save your cryptographic assets.
- Beware of Suspicious Airdrops
Airdrops are a good earning opportunity for crypto market enthusiasts. However, these events are often used as a way to trick the user into accessing their funds. The most common practice in this type of scam is the following: scammers create any token and distribute it to several wallets, when the user perceive the token in their wallet and try to move it (sell, send, transfer…) they interact with the smart contract created by the scammers, which allows them to have full access to the funds available in that wallet. So, whenever you notice the existence in your wallet of a token that you didn't buy, do research to find out if that airdrop was legitimate and, if you don't find information about it, just ignore the token and don't try to move it. .
But if you still want to look for chances to get airdrops, the website Coinmarketcap offers a good variety of these events being a good option to, perhaps, get tokens and cryptocurrencies for free and relatively safely.
- Never save your recovery phrase to your computer
Unless something is wrong with your wallet, the only way to access your funds is through the recovery phrase, which is usually made up of 12 random keywords. That way, if you store your recovery phrase on your computer, tablet or smartphone, it becomes “simpler” to access it, since hacking into computer devices is relatively easy. Ideally, you should write down your recovery phrase on a sheet of paper (or several) and keep it in a safe place.
- Beware of dubious links
Scammers love to send messages accompanied by very suspicious links, usually trying to impersonate well-known organizations such as Binance, OKEx, KuCoin, Coinbase, among others, and offering very attractive proposals. Whenever you receive a message of this type, search the website of the company that supposedly sent it and try to find news related to that offer. Also, always look at the URL of the sent link and compare it to the official URL of the platform that would have sent the message.
- Don't connect your wallet to any website
To access the benefits brought by the so-called Web 3.0 and blockchain networks, it is almost always necessary to connect your wallet to DAPPs such as OpenSea, Axie Infinity, Uniswap and PancakeSwap. However, before connecting your wallet to a website you don't know, always look for information about it and only connect when you are sure (or at least confident) that it is safe.
These are some important tips for your safety, if you have any additional tips, please share them in the comments, this will help many people.
Finally, if you liked this post, help us by leaving a like and a tip and following us, if you wish, of course.
That's all for today, thanks for your attention and until next time!