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Last Updated: 05/10/2025
in Hacks, Thefts and Phishing A seed phrase compromise can be avoided 99.5% of the time by following a few simple rules:
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Last Updated: 05/10/2025
in Scam Prevention Advice The best way is by educating yourself about the various types of scams and frauds out there, and how they work, and then taking corrective measures and improving your security & OPSEC
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Storing cryptocurrency on a hardware wallet is generally regarded as one of the safest and most secure ways to self-custody cryptocurrency so long as the user stores the backup seed phrase in a safe and prudent location
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Holding cryptocurrency anywhere entails some degree of risk. But there are some additional risk factors that can make storing crypto on an exchange less safe than storing in a wallet
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Utilizing adequate Multi-factor Authentication (MFA), particularly for any accounts with any links to cryptocurrency accounts or financial accounts is critically important for users to implement in order to ensure accounts are relatively secure and much less prone to being hacked or compromised.
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To ensure the cryptocurrency you store in any self-custodial wallet remains safe and secure, it is of utmost importance that you store your seed phrase securely
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It is common for fraudsters to send their victims counterfeit or fake cryptocurrency tokens that have no real value as part of their fraud schemes. This is done to make the victim think that they have received or recovered their money, whether it be from a fraudulent investment platform, or from a trader or even from a recovery scammer.
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About 99% of the time when people ask us the question, the answer is no, the crypto exchange platform is not legit; on the contrary, it's fraudulent
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If you have been trying to withdraw your funds, and the platform has not allowed you to perform a withdrawal, and has instead come up with various excuses (e.g. you have to pay a 'tax' first, or some bogus fee), it is undoubtedly a scam.
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A pig butchering scam or Sha Zhu Pan involves a scammer reaching out to a victim (using a fake name/profile), and working to slowly build up rapport with the victim over weeks or even months