• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Cryptocurrency Hackers

Can Cryptocurrency Be Hacked, Stolen Or Scammed? How Can You Be Safe? – Gadgets 360

Admin by Admin
August 9, 2021
in Cryptocurrency Hackers
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Cryptocurrencies, especially Bitcoin, Ethereum, and Dogecoin, have taken the world by storm, especially in the last year. It is becoming more mainstream, allowing users to buy goods and services with it, or trade them for profit, just like real currency. Having said that, there have been several ups and downs as well as some critical questions around the future of cryptocurrency One such question is whether these digital tokens can be stolen, hacked, or scammed. Just like fiat currency or cash, these can also be potentially stolen, so naturally you need to take a few basic steps to keep yourself safe.

In May 2021, the Federal Trade Commission (FTC) reported that scammers impersonating Elon Musk had stolen over $2 million (roughly Rs. 14.63 crore) in cryptocurrency since October 2020. The US consumer protection body’s data revealed that nearly 7,000 people had been defrauded of their money in digital currencies. It further said that these scams happen in many ways and involved “fake promises and fake guarantees”.

Related articles

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

July 5, 2022
Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

July 5, 2022

The fact that cryptocurrencies aren’t regulated makes their users even more susceptible to scams and hacks, but there are ways you can always be sure if an individual or an entity is genuine in approach. The responsibility, mind you, is on you to ensure that you aren’t scammed.

How to avoid scams while trading crypto

If an individual, company, or a group of people promises you a guaranteed payout — for example, “we will double your amount in X number of days”; it’s a scam. No single entity can claim to be in control of how an entire industry will behave.

Has someone promised your free money? If yes, the possibilities are that they are trying to trick you. At no cost should you trust them and deal with them.

Alright, while the aforementioned statements may make you believe it is easy to spot scammers, there are dedicated groups whose only purpose is to scam gullible traders or investors. Therefore, always invest your money through a registered cryptocurrency exchange and use a cold wallet to store your digital assets.

Before you think of trusting anyone, do your research. Look for the name of the company on Google, check their reviews and see if they have ever been accused of scams earlier or a complaint has ever been filed against them. Besides, read as much as possible to know how scammers have fooled investors in the past.

Hacking wallets:

Traders store their digital assets on crypto wallets and make purchases and sales through them. Your passkeys enable access to your wallet and therefore, it’s not easy to hack into someone’s wallet.

However, hot wallets that are always connected to the Internet are considered less secure as compared to cold ones that are in the form of a USB device. Hence, you connect the cold wallets to the internet only at the time of trading or making a transaction.

To avoid any threats of hacking, experts suggest a two-factor identification process as a security measure. Remember the key is to guard the access to your wallet. If someone accesses your wallet, chances are you will lose your digital assets.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Share76Tweet47

Related Posts

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

by Admin
July 5, 2022
0

What happened: A Bitcoin BTC/USD whale just sent $67,061,557 worth of Bitcoin off Coinbase.The BTC address associated with this transaction...

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

by Admin
July 5, 2022
0

Although the cryptocurrency market and its flagship asset Bitcoin (BTC) have been struggling in the first half of 2022, a...

Alleged Chinese police database hack leaks data of 1 billion – Spectrum News NY1

Alleged Chinese police database hack leaks data of 1 billion – Spectrum News NY1

by Admin
July 5, 2022
0

HONG KONG (AP) — Hackers claim to have obtained a trove of data on 1 billion Chinese from a Shanghai...

Lawsuits involving Rogers, Coinsquare point fingers over $200K Bitcoin hack – The Logic

Lawsuits involving Rogers, Coinsquare point fingers over $200K Bitcoin hack – The Logic

by Admin
July 5, 2022
0

In mid-October 2018, an unnamed hacker contacted Rogers pretending to be Felix Kimelman, a technology consultant who lives in the...

Dutch University set to recover more than twice the paid BTC ransom in 2019 – Cointelegraph

Dutch University set to recover more than twice the paid BTC ransom in 2019 – Cointelegraph

by Admin
July 5, 2022
0

Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

July 6, 2022
Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

July 6, 2022
What if Ripple loses and XRP is deemed a security? – FinanceFeeds

What if Ripple loses and XRP is deemed a security? – FinanceFeeds

July 6, 2022
Bitcoin price approaches potential springboard to $23K as DXY cools surge – Cointelegraph

Bitcoin price approaches potential springboard to $23K as DXY cools surge – Cointelegraph

July 6, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack