You think that your funds will never be stolen because you know how blockchain works and you made a number of successful crypto trades. Sooner or later, you will be trying to get back your wallet because you lost your hardworking money. It is important to take extra steps for your funds’ safety!
Here are FIVE steps that you need to incorporate to security for your crypto.
The biggest take-home from this article is that you should never share your recovery (seed) phrase. Without the recovery phrase, scammers can do little to your funds. As soon as they have your recovery seed, they have full access to your crypto. Furthermore, never share any sensitive information such as your email address, passwords with anyone. Remember, with Trust Wallet your recovery phrase can be in a form of QR code. When you share a recovery phrase QR code it is the same as giving perpetrators your recovery phrase.
When seeking help online from Customer Support or Admin be aware of perpetrators. Remember to follow legitimate instructions displayed on the official website’s community page. Moreover, when having an issue, an admin will never start a conversation with you over Facebook, Twitter, or Telegram and ask for your recovery phrase. Most reputable exchanges and wallets have dedicated customer support emails ending in their official domain [email protected] and will only use these channels to contact you.
Customer Support will NEVER contact you first
Customer Support will NEVER ask you for your recovery phrase
Customer Support will NEVER ask you to send a QR code of your recovery phrase
Do not click any links or embedded URLs on suspicious websites and emails as they can be filled with malware. You can use CheckPhish services to check if a URL is safe to open. The malware can be used to infect and access your wallet, which will result in the unauthorized transfer of your funds to an anonymous wallet. At that point, your funds will be permanently lost.
Connecting your wallet to third-party sites is risky and makes you vulnerable to phishing. Do not attempt connecting with them before informing yourself of the right instructions. The websites can be filled with harmful malware and links. For instance, here is a guide on the Risk of using Dapps.
Reputable cryptocurrency companies will never urge you to submit sensitive personal information or to send funds to them or an outside party. Therefore, when such a message appears in your inbox, not in your spam folder do not open it or click any links, instead of block and delete such a message. Below, is a common phishers method (copy of Trust Wallet, but different domain). Here, they push users to click their link to get a free Ethereum gift. However, It will be a form asking for your recovery phrase to steal your funds.
To conclude, it is each user’s responsibility to be safe in the crypto world. Here is a Trust Wallet article warning each user of Scammers. They will always be out there and they will get smarter each day and develop new ways to steal funds and information from you. It is important for each of us to be vigilant and safe stay. Let’s not let the fraudsters win.