Knowing The Threat Understanding is the first step in attempting to lessen your likelihood of falling victim to a bitcoin phishing scam.
Do you own cryptocurrency but are unsure of how to safeguard yourself?
The year 2023 is already showing signs of being a challenging one for cybercriminals. Since 2020, there have been more hacking incidents, malware infections, and phishing emails than ever before, with an annual increase in cybercrime incidents of over 27%. Although much of this is aimed at corporations, it doesn’t imply that people are immune to the growing threat.
Attacks are becoming more frequent in the decentralised financial space, particularly for people who have bitcoin investments. Online crime is significantly easier for people with malevolent intents to do since cryptocurrency is still an unregulated medium. This essay is for individuals who buy cryptocurrency but don’t know how to safeguard themselves.
We’ll cover all you need to know about phishing in the context of cryptocurrencies, including why it happens and the precise steps you can take to establish better email security policies. Let’s begin straight now.
Why Does Crypto Phishing Occur?
Nowadays, 6.5% of all phishing attacks target crypto firms specifically. These can include companies that offer wallet services, DeFi exchanges, or crypto PR. Even if this proportion represents less than 10% of all phishing assaults worldwide, we must keep in mind that there are millions of attacks every year.
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Bitcoin firms host tens of thousands of accounts. Although bitcoin is decentralised, several platforms keep users’ money. They may have billions of dollars in bitcoin on their computers, making them a target.
Attackers made billions in 2022’s largest crypto hacks and frauds. So, we must safeguard our accounts from unauthorised access.
How Can I Avoid Crypto-Phishing Emails?
Most companies have additional email security measures. Nonetheless, we’ll provide our finest crypto phishing email protection strategies. A cold wallet puts all bitcoin security in your hands.
The finest crypto phishing prevention strategies are:
- Action Bias
- Enable Firewalls
- Avoid Action Bias
Understanding why someone would target you is the first step to avoiding a bitcoin phishing scam. Phishers usually want account information and money.
Most phishing emails involve account details, which are the quickest route to taking your money or assets.
Emails asking you to log onto websites, enter account information, write your password, or answer security questions are common.
Even if an email appears to be from a known firm, it may not be. If you’re unsure, double-check the email against your address book.
Recognizing and blocking these emails requires knowing their appearance.
Most email services have firewalls. They block most email spam. Phishing prevention varies by email service. Gmail and Outlook’s solutions aren’t perfect.
If you receive a lot of spam, check your firewalls. If you’re still worried about emails coming into your account, you may always choose an email security service that concentrates on emails.
Lastly, action bias is a major source of crypto phishing schemes. Action bias urges us to act quickly when something catches our attention. This usually involves promptly responding to an emergency.
Emails should never be actionable. Even if an email says your account is hacked, suspended, or you owe money, don’t act immediately.
Always review the email. Do you recognise this address? Is this email fake? Can they hack my crypto wallet with the information they want?
Knowing that many scam emails aim to make you act quickly can help you think things through. Slow is safer for crypto wallets.
Protect your bitcoin investments from hackers and fraudsters. Cryptocurrencies, especially phishing emails, are targets.
This list can help you avoid phishing attacks as most are successful due to human mistake.
Use these email security tips to avoid bitcoin phishing scams. So, you may safely invest in this decentralised media over time.