December 10, 2023

Where and how to safely store cryptocurrency?

Where and how to safely store cryptocurrency?

In 2019, criminals stole $4.3 billion in cryptocurrency. According to CipherTrace analysts, compared to 2018.the number of thefts and fraud using digital money increased by 150%, and in two years - by 2600%, writes RBC Crypto.

This suggests that the cryptocurrency market is becoming more dangerous, and it is more difficult to defend oneself. We talk about the main methods of cheating and how to avoid loss of funds.


One of the most popular ways to steal cryptocurrency is extortion. The malicious program encrypts all the data on the victim’s device and gives it only if the money is transferred to the criminal.

Catching such a virus is simple - open an infected email or click on the same ad.

How to protect yourself from ransomware?

The most important rule is to have a reliable antivirus program that can counter complex viruses in real time. It is also necessary to back up data.

For example, store all important files in the cloud, on a USB drive, or on an external hard drive. After recording, do not forget to disconnect the device from the computer, otherwise it can also be infected.

Phishing sites

Hackers try using phishing sitesAccess your sensitive data. Criminals create a page that is very similar to a site, for example, a popular cryptocurrency exchange. But after entering the login and password you will not get into your account, but attackers will be able to get into it.

Often the interface looks very believable, it is not always possible to distinguish a fake from the first time.

How to protect yourself from phishing sites?

Links to phishing sites are sent tosocial networks, via SMS and email. The first way to protect yourself is to not click on suspicious links. This rule sounds trivial, but scammers continue to successfully deceive people. For example, in mid-January, a fraudulent scheme using the Adidas brand was distributed on WhatsApp. It was aimed at obtaining personal data of messenger users.

The second rule is to carefully check your addressline. Even a slight difference in spelling indicates that the site is fake. It is also necessary to check the functionality of the page - often on phishing sites only one window works - for entering your login and password. Or, for example, by clicking on one of the tabs you may end up on a page that does not look like the original resource.

The easiest way is to bookmark siteswhich you visit most often. For example, your cryptocurrency wallet and the exchanges you trade on. You can also check a suspicious page through a special service from Google. But it’s always better to play it safe and simply not get involved with a resource that raises doubts.

Fake wallets

Apps often appear on Google Play forstoring cryptocurrencies that are not. In fact, the program does not show your new address, but a hacker wallet. All money is transferred to him.

How to protect yourself from fake wallets?

Trust your funds only to trustedservices. Before you start using the new application, find out all the information about it: how long it appeared, who are the developers, what are the reviews. Try to create a new address in the application. Most often, a fake program does not generate them; the wallet remains the only one belonging to the criminal.

Non-existent cryptocurrencies

Last year, severalfinancial pyramids that caused billions of dollars worth of damage. Such projects are hiding behind the idea of ​​creating their own cryptocurrency, but in fact this is not a question. The organizers create a classic fraudulent scheme, after which they disappear with the money of investors.

How to protect yourself from scam projects?

Projects that promise guaranteed profitand work on a network marketing scheme, often turn out to be financial pyramids. Before investing in any project, you need to study in detail its purpose, team, technical component.

In the field of cryptocurrencies, the topic of investing in new startups is especially complex, so you can invest here only at your own peril and risk.

SIM swapping

One of the security measures to protect yourThe account is two-factor authentication. But hackers have already figured out how to use it for their own purposes. Often, to enter the exchange or cryptocurrency wallet, you need to get a code on your phone, and criminals use it.

First they find out the phone number and personaluser data through open sources or employees of operators, then block the SIM card (for this it is enough to contact the support service and report the loss of the SIM card). Then, the attackers seek to transfer the number to their SIM card and gain access to the account.

How to protect against SIM swap?

The only thing that can completely protect againstSIM swapping is the process of obtaining a separate SIM card for registering accounts on exchanges and wallets. Such a phone number should not be used in everyday life, should not be published anywhere, and should not be shared with anyone. You can also create an additional password for the SIM card. In this case, to block the number you will need not only your full name.

An easier and less expensive method is to use special two-factor authentication software rather than using your phone. Nowadays, most cryptocurrency exchanges have this function.

Account hacking

The most classic way to steal funds, but no less dangerous, is account hacking.

How to secure your account?

In addition to the hackneyed rules about usingcomplex passwordsAndtwo-factor authentication(but not via SMS), the main thing is not to store large amounts on the exchange.

Criminals can access walletstrading platform, regardless of what security measures you follow. Therefore, you need to enter into the account exactly as much as is necessary to conclude a transaction. And then immediately withdraw the profit, preferably to a cold wallet, which is stored in a safe place.


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