The Bitcoin market has been booming with both Bitcoin and altcoins rallying significantly. However, the threatening specter of Bitcoin scams is an ever-lurking shadow in the corner of the room.
Sometimes it pays to recount past errors, learn and move forward with our crypto gains firmly in our pockets – and not in someone else’s.
Not falling for phishing attacks, social media scams, SIM swapping hacks and understanding which are safe cryptocurrency exchanges, might seem obvious to some, but it is so easy to fall for them if you’re off your guard.
In this post, we’ll give a rundown of the main ways to be scammed out of your Bitcoin.
1. Being Hoodwinked by Phishing Websites
As cryptocurrency exchanges provide increasingly robust and vigilant security protocols, scammers have had to pivot and introduce new weapons in their hacking arsenal. In 2020, their new angle was socially-engineered cyber attacks.
These attacks, both carefully planned and executed, direct people, via email, to fake websites. The goal is to trick them into unknowingly and unwittingly handing over their private details. Read More