How to protect your cryptocurrency assets from phishing?
With the growing popularity of cryptocurrencies, the number of cybercrimes is constantly increasing. Phishing is a type of fraud in which attackers attempt to gain access to your data (logins, passwords, keys) to steal crypto assets. In this article, you will learn how to protect cryptocurrency from phishing and ensure the safety of your funds
Phishing is one of the most common types of cyber attacks. The goal of such an attack is to gain access to your data. In most cases, phishing attacks are conducted via email. Scammers can impersonate the support team of an exchange or other organization you trust.
To ensure the safety of your crypto assets and personal data, it is important to learn how to recognize phishing and apply effective protection methods.
Let's take a look at a few signs of phishing emails:
- Email address spoofing Spoofing is a deceptive maneuver where scammers manipulate sender names and domains, giving them an original appearance. The main goal is to give the victim a false impression of the authenticity of the email. For example, PayPal support writes to you. At the same time, this e-mail address doesn’t coincide with the official address on the service's website.
Always make sure that the sender's address matches the real support address.
- Imposing a sense of urgency and threat Phishing emails often create a sense of urgency and fear in the victim to induce immediate action. For example, you may be led to believe that an unexpected withdrawal of funds from your account has been made so that you "reset" your password. In reality, you will simply reveal your password to the scammer.
Remember, if you are being rushed, or driven to a certain action - there is a chance that they are trying to deceive you. Don’t give in to emotions, check the authenticity of what you are being told through the official support service.
- Malicious links Sometimes phishing emails contain hyperlinks that direct to fake websites. Their appearance almost 100% mimics the original platforms. In addition, such emails may contain attachments. For example, executable programs or applications containing malware. When you open such attachments, you compromise your devices and also your data.
Here is an example of a typical phishing email that contains the three features mentioned above:
Dear Customer,
Your PayPal account has been subjected to suspicious activity. For your safety, we have taken action and temporarily blocked access to your account. To regain access, you need to confirm your identity as soon as possible.
Please click on the link below and enter your verification credentials: [Malicious link here].
If you don’t complete verification within 24 hours, we will be forced to permanently lock your account.
How to secure your crypto assets from phishing?
- Use official sources
Always use official sources for information about your crypto assets. You should avoid clicking on suspicious links in emails or social media posts.
It is important to remember that no legitimate organization will ask you to provide personal information through emails or messengers.
- Two-Factor Authentication (2FA)
Enable two-factor authentication (2FA) for all your accounts on cryptocurrency exchanges and platforms. 2FA requires two types of identification before you can access your funds.
This can be a password and a one-time code sent to your phone or other device.
- Use hardware wallets
Using hardware wallets can greatly increase the security of your crypto assets. Hardware wallets are physical devices specifically designed to store cryptocurrencies. They aren’t connected to the internet, making them less vulnerable to online attacks.
- Check URLs
When entering your details on websites (especially cryptocurrency exchanges), always check the URL carefully. Attackers can create fake websites that mimic official platforms to trick you out of your data.
Don't click on links in emails from online services. Instead, we recommend manually typing the address of the desired service into the address bar of your browser.
- Updating your software
Update the software of your devices and wallets regularly. Many updates contain patches that fix known vulnerabilities that can be exploited by attackers.
To summarize
Phishing is a common method of attacking your funds, but with the right precautions you can greatly reduce your risk of falling victim to scammers.
Crypto security education, using trusted wallets, two-factor authentication, and vigilance can help you protect your crypto assets and ensure safe storage.