Crypto Scams

Cryptocurrency Scams

People usually fall for cryptocurrency scams for one of two reasons. It is either Fear or Greed.


There are usually two ways scammers try to steal your cryptocurrency. They try to convince you to:

1) Sign a transaction using your hardware or software wallet

2) Give them the private key/wallet seed phrase of your hardware or software wallet


There are actions you can take to safeguard your cryptocurrency:

Always store your cryptocurrency in a hardware wallet. Ledger is widely recognized as the best and most secure hardware wallet on the market.

Never give your private key to anyone. (not even the closest family member or friend)

Never store your private key in electronic format.

For best practice, never store your private key at home. Store it in a safe place preferably in a Bank Deposit Box.


Protect your PC with a good Anti-Virus Software.

Check your PC for Malware. (Use Malwarebytes for example)

https://www.malwarebytes.com/

Check online to find out if your email address has been leaked in any data breach.

https://haveibeenpwned.com/

https://intelx.io/


Never download attachments from an untrusted source.

Never click a link in an email to update your wallet. Always go to official website to update your wallet.

Always carefully check URL of a website, character by character.

Check URL for secure socket, check URL for https:// instead of http://.

Never enter your private key/wallet seed phrase into an online form.

Ledger Support will never call you or email you asking for 24 word pass phrase.

Always check details of a transaction before you sign.

If someone tries to take away your hardware wallet by physical attack. Simply give them the wallet. Your life worth more than any amount of cryptocurrency.


XRP Scams: There have been frequent XRP scams

XRP Scam Reporting Website:

https://ripple.com/report-unusual-activity/

Disclaimer

We do not offer any financial advice. We recommend that you consult with your financial advisor for all your financial decisions. We are not responsible for any of your possible loss. Cryptocurrency is a very speculative asset. Please do your own research and due diligence. The information provided may not be 100% accurate or up to date as cryptocurrency space is changing by the second.