Your Digital Assets protection against common attacks! Know it, How!

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Procuring “Cryptos” these days is fairly easy, or so to say is now a simple process, more or less. You just need to pay little extra attention as to what you intend to have in your portfolio.

Interestingly, however, it is surprisingly complicated, to keeping hold of it. Now, this step is fairly so very important. Crypto #assets are absolutely #vulnerable if not safeguarded, properly & securely.

Amid the “hacks”, “smart contract bugs”, and in general “user error” of various sorts, the Crypto business is packed with several known and unknown stories of woe/anguish/despair from all those who have been parted/robbed from their #portfolio/investment.

Surprisingly, it’s not just the newbies, who make mistakes, the much knowledgeable crypto holders, are equally vulnerable. Infact, their wealth makes them a “target” for “sophisticated attackers”.

Appreciatively, there are nowadays an army of “defensive tools” that can secure the “crypto users” against the most common/general security #threats that are prevalent widespread.

The one and only requirement is, you have to properly install and use them as per the recommended guidelines and keep an update of all #security features. It’s a minor expense to pay for being fortified/secured against all the various “wallet-draining attacks”. Do consider this threat very seriously. Adding these “security tools” to your arsenal is absolutely important, besides use them properly as advised to keep all kind of adversaries/foes at bay. Understand to use it, it’s not that complicated. You can get guidance from the experts and or your closest friends who can also guide and help you, if they already are #crypto investors.

The Billion Dollar Security Problem of Cryptos!!!

Almost “$4 billion” were lost to several crypto hacks, last year, with “hundreds of millions” lost due to the user errors/mistakes, sending the funds to the incorrect address or accidentally locking them into “smart contracts” till indefinite time period.

Needless to say that, a couple of unfocussed/absentminded clicks is all it takes to pretty foolishly approve “third party control” of your crypto assets or to possibly dispatch it on a “one-way ride” to a “smart contract” hell. Your accurate focus and keen attention is all it takes to make right moves and #safeguard your crypto #assets.

The types of “scams & hacks” that thrive nowadays actually tend to match with the “current market narrative”.

Interestingly, when the NFTs (Non fungible tokens) were really riding high and changing multiple hands for “millions of dollars”, the attackers/hackers pretty keenly focussed all their attention, there.

The #phishing #scams, using #spoofed websites or #fake Telegram & Discord #escrows, is one such trick that has indeed been pretty successfully used to capture the “blue chip NFTs” such as the one “Bored Apes” & “Fidenzas”. You would be shocked to know that $3million worth of NFTs were stolen in the month of May alone. That is totally insane.

“Poor wallet UX” is also exploited on by the attackers/hackers, who really can lure innocent #victims into authorizing apparently “innocuous transactions” that can/may result in their #wallet being emptied. This definitely can be a sad state of affairs for the victims, insanely searching for finding desperate solutions to such #frauds.

Though, It’s not all “doom & gloom”, #cryptos may be a battlefield but the armor available to ward off such kind of attacks is improving with each passing day. Things are changing on a fast pace and so is the tactics of the attackers/hackers.

Wisely Choose Your Security Tools

Let’s get going with the basics, first. This is indeed important.

If you are using #centralized #platforms, one as a crypto #exchange, you must enable #2FA “two-factor authentication”. The extra seconds it takes to enter a “check code” each time you login, is indeed a very small price to pay for “locking down” your #crypto #account.

The same amount of security should be inplace for your “email account” that is linked to your #CEX.

It also helps/pays to carefully bookmark the crypto platforms that you are regularly using/accessing to practically avoid clicking on #phishing #links.

Most importantly, always remember that, never “google the site” and automatically click on the first #link as #scammers / #fraudsters / #hackers have been very cleverly known to use featured adverts to lure the lazy ones, that often fall a prey to such links and expose to such vulnerable #attacks. Therefore keep a strict watch/vigil to what as how you access your important links.

Such basic/simple protections can possibly shield most “common attack scenarios” involving the #centralized #platforms.

However, when interacting with the #decentralized #infrastructure, it is the actual wild-wild-west, where the customer #protection is literally minimal and it is everyone for themselves only!

The #hacks that occurred in #DeFi were more than 80% of the funds that lost in the last year. Keep your vigil and stay alert.

Must Watch Your Wallet by all Means!!!

In the dominion of “non-custodial crypto”, remember that…when things go wrong, there are no “third parties” to actually bail you out.

The lone resolution is just to #safeguard that “worst-case scenarios” are not able to “manifest” by making your #web3 #touchpoints #secure.

This actually starts & ends with your choice of #wallet.

The variety of crypto-attacks that target #crypto wallets is truly massive, including #keyloggers, #spyware, SIM #swapping, & “man in the middle attacks”.

Now, crypto coverage #protocol #FairSide eases it with “personal wallet protection”, just in case, to obtain #coverage that can re-compensate your loss. You stay secured and insured.

Having said that…remember…prevention… still beats a “cure”, therefore it makes complete sense to use a #wallet for your daily dealings that places #security utmost, without conceding on the usability factor.

#Rabby is a indeed a common choice of “hot wallet”, and cold storage, try an “air-gapped option” such as the one #Ngrave.

Always Stay Alert…!!!

Remember…resolutions/solutions as above, possibly can protect your #digital #assets but don’t forget that “security is NOT onetime task/activity… it surely is an “ongoing process”. Therefore…always…Stay vigilant.

Thank you!

@amitsharma

Posted Using LeoFinance Alpha