Many cryptocurrency owners fall prey to common cryptocurrency theft schemes, including phishing traps. How can a regular crypto user identify and avoid these attacks to prevent the potential loss of money?

Get to know the source
Phishing emails can sometimes trick users into downloading software, clicking on what they shouldn’t, or simply linking them to a page where they can enter personal information like a start phrase.

In July, the Ledger Hardware wallet notebook reported a data breach that affected the personal information of many of its users, some of whom continue to be targeted by phishing attacks. A number of users have reportedly received persuasive emails asking them to download the new version of Ledger.

Users were able to identify the defect by looking closely at the sender’s email address ending in “” with the letters “G” and “D” written. E-mails arriving at unexpected times where the user was already a victim of a scam and requesting information – whether by phone, email, or via a link – should be subject to additional scrutiny.

Originality of software updates
In September, an Electrum user reported losing nearly $ 15 million in Bitcoin (BTC), which appears to be related to a phishing scam that has affected software users since 2018.

One of Electrum’s first reported attacks – nearly $ 1 million stolen – was the result of a user entering personal data on a malicious website created by a hacker. This scam consists of a fake wallet update that downloads malware onto victims’ devices. When they gained access to the wallet, the fake update transferred all funds to the address verified by the fraudsters.

Although the scam was relatively new a couple of years ago, a simple Google search or email sent to the software wallet company today can confirm whether the hacker is targeting specific users.

Often the anti-phishing logs speak for themselves
The fake Google Chrome extensions tricked many users into giving up the credentials they needed to access their wallet. In March, the fake Ledger Live scam fell with a 1.4 million XRP valuation – over $ 800,000 with the latest token rising to $ 0.58.

However, legitimate companies have worked on ways to curb these attacks for users who rely on browsers as part of managing their assets. In September, the privacy-based Brave browser announced that it would add anti-phishing solutions from cybersecurity company PhishFort.

Share with the crypto community
If some users manage to identify and prevent a phishing attack or become the unfortunate victim of one of them, the way to allow others to avoid the same fate is to share their experience via Reddit, Twitter, a personal blog, or even an email with news about the cryptocurrency. Publishing. …

Cryptocurrency users can sometimes find information about fraud methods on well-known target sites including Ledger and Trezor, but the pages are often hidden in the most common troubleshooting questions.

Sharing information via social media, while not always reliable, can provide greater transparency and education to keep everyone’s resources as safe as possible.

Source: CoinTelegraph