Cryptocurrency Scams: Cybersecurity Tips
Cryptocurrencies have made an uproar all around the world, with so many stories of how some people became millionaires overnight because of them. But, at the same time, there have been scary stories of cryptocurrency scams and how many have lost their money trying to get rich.
In this article, we will show you a few cryptocurrency scams so you can watch out for and stay in the safe while trading crypto online. In addition, we will show you which antiviruses you can use to help keep you safe from many of these dangers.
Cryptocurrency is risky as it, taking extra precautions to mitigate the risk further is very wise. Falling victim to a scam is worse than watching your favorite crypto fall in price, as a cryptocurrency can always resurge in price, but a scam means the money is gone for good.
Examples of some cryptocurrency scams include:
1. Fake Websites
The old classical "secure website" in which you pay money only to find out it was a scam and the money is gone.
In general, accessing an HTTPS website is considered safer than an HTTP website, and you should always look for the padlock image next to the URL on your browser.
However, fake websites often contain HTTPS phishing elements, as the website's link would be sent implying it is secure, only to find out that the SSL certification it has is only a trap.
These fake websites would often disguise themselves in appearance and in name, mimicking some of the popular online websites others might visit for proper transactions. Still, they would have very minute differences that are sometimes hard to notice.
Examples of these minute changes would be changing the letter o with a 0 somewhere in the name or using a different TLD than the original website. Therefore, you should always double-check a website's URL before visiting it to avoid such traps.
2. Hacked Websites with Hacked Wallets
A common target for cryptocurrency scams includes crypto wallet websites. Although a blockchain by itself can't be hacked easily, an alternative for hackers is to hack a website providing crypto wallets and replacing the link for the original wallet with their own link.
A few crypto wallets such as the Daedalus wallet have taken precautions against cryptocurrency scams attacks by providing a "PGP signature" to check, and a "SHA256 checksum" to verify and check. Thus maintaining a better level of security relative to others.
3. Fake Mobile Apps
Searching for the most popular crypto trading services you'll find many other platforms with almost identical names. Many of these are fake cryptocurrency scam apps aimed at taking your money and cryptocurrency.
Although most companies try to fight these apps, many remain loose for a period of time long enough to trick users, such as the thousands who got tricked according to this report by Bitcoin New.
This trick is more common among Android users. However, Apple users are still at risk and should also watch out.
4. Phishing Emails
Phishing emails often present themselves with a sense of urgency, the attacker wants you to click the link ASAP before it's too late.
Never fall for such urgency, in the case of cryptocurrency scams most often the presentation would sound something like "only a few more hours for this ICO (Initial coin offering)."
Always take you're time and don't rush, more importantly, avoid opening links sent to your email before checking and making sure they are legit.
In case of emails that sound fishy, try to get in contact with the original company using one of the emails on their website to confirm the authenticity of the email. In fact, you should make sure the company itself is authentic to begin with.
5. Social Media "Gurus"
Over the past few years, there have been many social media gurus that pretend to guide others to financial success, avoid following those as they can through you down a rabbit hole.
You should also avoid lending or selling people over chat, as chances are if you provide them with any form of cryptocurrency they won't pay you back ever.
Typically protecting yourself from cryptocurrency scams requires a lot of knowledge and insight. Unfortunately, not everyone can be a cyber-security expert. However, in addition to the typical precautions, there are a few methods to help keep you safe even if you're about to slip.
Using an antivirus service can act as an extra line of defense by protecting you from phishing links websites and emails.
Antivirus services will provide you with protection from malicious links sent to you via email, as they often have a large database containing a list of such suspicious websites, in addition to filtering spam emails.
Often antiviruses will provide extra tools such as password managers and VPN, which can play an important role in protecting you from phishing attacks that could lead to cryptocurrency scams.
Based on all we've said, we recommend the antiviruses that we find based on our trials to provide you with the highest level of security and protection. In addition, we've included promo code links so you can get the best prices possible!
Our top three recommended antiviruses:
Norton 360 is one of the most dependable antiviruses out there. It can easily block many threats and provide you with internet security. In addition to protection against phishing emails, viruses, malware, and ransomware, Norton provides a few extra features, including but not limited to:
- Parental control: If you’re a parent, you’re probably looking for a parental control feature with your antivirus service. Norton is one of the few that offer parental control options, and it’s one of the best.
- Password manager: After installing the password manager on your proffered web browser, you create a strong vault password. You can use the password generator to create passwords that are hard to crack- they can be up to 64 characters, with any combination of upper-case and lower-case letters, numbers, and symbols.
- Cloud storage: Every Norton 360 plan comes with an easy-to-use cloud storage space to save your essential files. Starting with 10 GB in Norton 360 Standard plan and up to 75GB in Norton 360 Premium plan. In addition, not every antivirus includes cloud storage, so this adds value to your package.
Avira antivirus is one of the most trusted antiviruses out there that provides a very high and effective level of protection, making sure you and your family are provided the internet safety you deserve. In addition to the robust antivirus, anti-malware, anti-ransomware, and protection against phishing emails and links, Avira provides:
- File encryption protects files with passwords, making sure nobody can access your files without a password to enter them.
- File shredding to completely delete files, so you cannot restore them. This is a nice feature to have when you want to make sure a file is deleted to the point of no recovery, as normally, it is possible to recover some files after they are deleted.
- Multimedia/gaming mode is a mode that stops notifications and momentarily stops the sudden unexpected updates, which is useful when working, or in a meeting, and in instances when you're enjoying your time and don't want interruptions such as watching movies or TV shows, or if your kids are playing video games.
- Network traffic manager is an extra line of defense in addition to your firewall to defend your network and keep track of what's happening in your network.
Another antivirus that you will find to your liking is TotalAV. TotalAV can achieve the internet safety you desire while providing you with more functionalities at the same time. In addition to the protection against phishing emails, viruses, malware, and ransomware, TotalAV adds to the functionalities:
- The Password Manager by TotalAV helps you create strong passwords and saves your passwords in a secure place. It’s a benefit, especially if you have a hard time remembering your passwords. Unfortunately, TotalAV’s password manager is only included in the Total Security package.
- The System Tune-up tool by TotalAV is used to clean out junk files and speed your PC’s performance. No one wants to use a slow PC, am I right?
- TotalAV provides a firewall protection service to protect your network from harmful traffic and provide you with internet safety. It can be accessed through the settings menu into network protection and adjusted from there. In addition, you can choose between enabling or completely disabling it as you wish.
To summarize, these are the best Antivirus Software in 2021…
- Mac optimization tools
- Cloud-based security
- Designed to block the latest Mac threats
- Fast scan
- Protects against phishing sites
- Free version included
- Free Bitdefender VPN with every plan
- Anti-Phishing and anti-fraud protection
- 30-day money-back guarantee
- Safe Online Banking and interactions
- Perfect AV-Test lab score
- Fast on demand scanning
- Integrated VPN
- Free product available
- Advanced features
- Cloud storage available
- Parental control available