Last year (2022) was a record year for cryptocurrency theft, as hackers stole a record $3.8 billion worth of cryptocurrency worldwide. In a report by researchers at Chainalysis, a blockchain analytics firm, it was disclosed therein that the figure rose to nearly $4 billion from $3.3 billion stolen in 2021.
Even though United States (US) investors poured millions into Bitcoin, dogecoin, and other cryptocurrencies as COVID-19 ravaged the global economy, in the hope of more fortunes, most of them suffered losses due to hackers, with their digital wallets plundered on platforms with poor cybersecurity.
With cybercriminals dashing crypto holders’ hopes by carting away their wealth, it is crucial for one to be in the known of the measures to take against them.
Below are some of the measures you should consider
Find reliable cryptocurrency exchanges: You must conduct a thorough study before using any exchange for your crypto transactions. There are various types of cryptocurrency scams out there that aim to con individuals out of their money or deceive them into giving up private keywords and other forms of sensitive information. You must be alert.
Make strong passwords: Your most memorable line of safeguard against cybercriminals who are planning something naughty is generally a solid secret phrase. Select a secret key with a combination of letters, numbers, and images as you create login qualifications for your crypto wallet.
Diversify your crypto assets: People frequently divide their crypto assets as a security precaution to safeguard their accounts and investments. Keeping your balances in many crypto wallets is very acceptable. If a hacker manages to access one of your accounts, having this split helps you from losing all of your money.
Keep your passphrases private and secure: It is important to always keep your keywords private and to store them carefully is the greatest method to prevent having your crypto wallet compromised. The only thing that can provide you access to your account and enable you to trade and buy cryptocurrencies online is this particular word. Never give this information to anyone as a keyword compromise could result in theft or fraudulent activity involving your profile.
You ought to think about utilizing a password manager because these are more complicated phrases so you won’t have to worry about forgetting them. Finally, be sure the cryptocurrency wallet you select has the security measures required to keep your funds and data secure online.
Do not use public WiFi: Public Wi-Fi comes up short on the security you want to avert slippery programmers. Along these lines, you ought to defer doing cryptographic money exchanges until you are connected to a solid, confidential web association. Keyphrases and different sorts of information are habitually undermined by cybercriminals utilizing spyware and different types of malware.
