Topic: Best practices to prevent hackers from stealing our crypto assets - page 4. (Read 713 times)
February 21, 2023, 10:18:21 AM
In this list you should also include that avoid using cracked software/games in your PC/laptop or mobile. Because crack software/games can include virus that can monitor our keyboad and screens easily.
February 20, 2023, 06:51:40 AM
For me, really matters here is how you will make your private keys or wallet seed phrases safe. Because let's say even if you use a hardware wallet but you store your wallet seed phrases not secure, it is still not safe at all. The downside of software wallets sometimes is just your device where your software wallets are stored is compromised or even your seed phrases are very prone.
There are a lot of suggestions how to store it, and if you still do not store it properly then maybe you shouldn't have a hardware wallet. I have always said the same thing and people doubt me but I am going to say the same thing again. If you are investing your money into bitcoin, and you are not really interested in crypto as much as knowing how to store it safely, putting it on a trusted exchange is not a bad idea at all, it's actually quite common.There are billions of dollars in binance, you think they won't know how to store it safely? All those "not your keys, not your coins" is old news when we had shady exchanges, binance will store it safely for you.
February 20, 2023, 01:04:56 AM
What the author forgot is that there is a new scam going around called address poisoning attack. And it happened to me even. It’s only on the ETH and BSC chains.
Basically out of your address you will see a destination transaction. It will have the same first and last characters. However this transaction is not real. You will copy it by mistake and send money there thinking it’s to the same address as before. And it goes to the hackers. Basically very sneaky way of scamming people.
Basically out of your address you will see a destination transaction. It will have the same first and last characters. However this transaction is not real. You will copy it by mistake and send money there thinking it’s to the same address as before. And it goes to the hackers. Basically very sneaky way of scamming people.
February 19, 2023, 11:04:22 PM
For me, really matters here is how you will make your private keys or wallet seed phrases safe. Because let's say even if you use a hardware wallet but you store your wallet seed phrases not secure, it is still not safe at all. The downside of software wallets sometimes is just your device where your software wallets are stored is compromised or even your seed phrases are very prone.
February 19, 2023, 06:57:39 PM
Almost everything OP said is correct, and for me, the most important part is the last part he said "Educate Ourselves" because if we don't do it, we won't know if our assets have been put at risk. or not.
It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.
Educating ourselves is the most important. When we have the knowledge about the do's and don'ts we'll look for the better security and keep is in a more secure way. Even with securing the recovery phrase some used to be careless and loss big funds. Through education these problems can be overcome. More discussion is another thing that lets us know what is available in the updated market for better security. It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.
February 19, 2023, 06:51:21 PM
Almost everything OP said is correct, and for me, the most important part is the last part he said "Educate Ourselves" because if we don't do it, we won't know if our assets have been put at risk. or not.
It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.
It is still a big thing to have enough knowledge as long as the ideas that we are discovering here in the world of cryptocurrency are correct.
February 19, 2023, 06:41:02 PM
If we are going that road then there's no place safe enough for your private key either. If someone really wants your money they might just do some long con clever social engineering.
Why would you be so dumb enough to let someone pull off a social engineering trick in order to access your private keys in the first place?
February 19, 2023, 06:39:28 PM
Just put more cautious into it. If you are using online wallets or exchangers as wallet, then avoid accessing unecessary and unfamiliar sites because malwares may access your device and eventually have access to your account. And if you are using hardware wallets, never put it in unsafe places wherein you'd forgot it or lost it. We are talking about money and that is an enough reason for you to be more careful of it.
Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.
I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.
True, I was just pointing out that not even hardware wallets are completely safe if we make a dumb mistake like that, however if you use a hardware wallet as you should the chances of being hacked drop considerably, to the point I think the majority of those which have a lot of money invested in the market of cryptocurrencies should get at least one, as the majority of the people out there simply do not know how to secure their smartphones or desktop computers appropriately.
There are even instances wherein investors have lost their hardware wallet. Remember the guy who accidently dumped his hardware wallet and eventually made efforts on finding it? In hardware wallet I think it is oneself which would be your biggest worry. Putting it in places wherein it won't be secured would definitely put your assets at risk.
Hardware wallet is the most important thing and the only one that can really secure your funds
It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.
February 18, 2023, 10:44:04 PM
Hardware wallet is the most important thing and the only one that can really secure your funds
It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.
February 16, 2023, 02:10:49 PM
Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.
Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange.We can also lost them or they can get damage over time. This can be the reason why some people don't bother on availing one anymore. Plus they still haven't experience any problem on using an online wallet.
February 16, 2023, 04:50:28 AM
Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.
Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange.Yes, that's why it is advisable to buy it directly to the manufacturer, to avoid being hijacked or your hardware wallet being tampered by someone because they know it's going to be some crypto assets on those from individuals who are buying it.
It's easy to buy it from the manufacturer website, and then they also have some reputable stores as well carrying their products.
And I must say it's a must for every crypto enthusiast to have a hardware wallet.
February 16, 2023, 04:34:30 AM
Hardware wallet is the most important thing and the only one that can really secure your funds
Hardware wallets help you avoid online threats better than software wallets but it doesn't guarantee the security of your crypto assets if you don't know how to keep your seed phrase/private key safe. The bottom line in asset protection is for us to decide, not a hardware wallet or a software wallet. When you use any wallet, your assets will be on the blockchain, so as long as someone owns your seed phrase, they will have full rights to your assets. Don't think that hardware wallets are absolutely safe.
February 16, 2023, 03:34:15 AM
Buying it from a doubtful source is the mistake they do in that case. Get it from the real source and you won't have such a problem. If you bought ledger nano from "some guy" then you could lose all that you have, but if you buy it from ledger directly and not from some random stranger, the problem drops a lot smaller.
Bought a hardware wallet from the third party or unofficial store is similar like asking a stranger to create a web wallet for you where he's already know your seed phrase and private key, it just his choice to rob your coins or not. Hardware wallet is the most safest storage because it's almost prevent from any malicious virus and keylogger which can steal your coins. People are careless for not buy a hardware wallet when they have a huge amount of money on their web wallet or exchange. 
February 16, 2023, 03:18:54 AM
Hardware wallet is the most important thing and the only one that can really secure your funds
It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful.I personally bought it directly from ledger, took months to get to me because on early days they took your money but then built it later on, so it took months to receive one, but I never had any problems at all because I bought it directly from the source. Nobody in between has ever seen it and I trust them enough to know they wouldn't risk any hacking issues in house.
February 15, 2023, 11:26:08 PM
Hardware wallet is the most important thing and the only one that can really secure your funds
It is important to not generalize that much as this is not entirely true, there have been many cases in which people buy a hardware wallet from a doubtful source and instead of generating a new wallet they use the seed words which came with their compromised hardware wallet, they make a deposit and the hacker steals the money as those seed words originally belonged to them, so as you can see you can lose your coins as well with a hardware wallet if you are not careful. February 12, 2023, 02:43:53 AM
Hardware wallet is the most important thing and the only one that can really secure your funds
February 12, 2023, 12:42:31 AM
#8 is all you need, that's the most generalized answer one can give out, educate yourself about the whats and hows of keeping your pc safe, even spending money to buy a separate one to keep whatever you want to stay permanently hidden could work. Identify how to use sandboxes/VMs in case you ever need to access an external site you're not sure is safe. It'll come a long way, not just in terms of being safe in storing crypto assets.
To be fair there are dumb enough people to fall for it, that's just how it is, can't exactly expect everyone to have the same strong mentality to not fall for it. Though I reckon any sane educated person about crypto wouldn't do that, it's like giving the keys to your house lmao.
If we are going that road then there's no place safe enough for your private key either. If someone really wants your money they might just do some long con clever social engineering.
Why would you be so dumb enough to let someone pull off a social engineering trick in order to access your private keys in the first place? February 12, 2023, 12:40:41 AM
~snip~
6. Reputable Exchange :
^ In all said above was right except this, I did not agree with this. 6. Reputable Exchange :
There is no reputable exchange that could be trusted to store your crypto assets, all of them will become scams in the end if they wanted to.
So I think there is no way to trust centralized exchange, store your assets in a hardware wallet and you are the one who is responsible for keeping your seed phrase, not a third-party exchange.
Nevertheless, the rest you have mentioned was right and must people learn.
How did you say that all exchanges will eventually end up with the scam dude? Don't say you don't use exchange here. you don't buy cryptocurrency or bitcoin?
In my understanding, we individual investors, for example, I am one of them, and I believe in bitcoin, of course, I will buy bitcoin in an exchange that I know has been tested and has gone through a lot of tests and in the end, it is still resolved they still maintain the trust of their traders, and this exchange is binance.
Is this the only exchange where no matter how many times a hacker entered their platform, they quickly resolved the issue and did not let their clients lose trust in them? So I can say that this is a reputable exchange for me, and the risk depends on us.
February 11, 2023, 11:08:03 PM
You can use open source Two-Factor Authentication alternative application than Google Authenticator or Authy. Aegis is a good alternative in my opinion for you.
Aegis Authenticator, a decent alternative to Google Authenticator and Authy.
Link for download Aegis: https://getaegis.app/ on Google Play or FDroid.
Aegis Authenticator, a decent alternative to Google Authenticator and Authy.
Link for download Aegis: https://getaegis.app/ on Google Play or FDroid.
Currently, I am using Google Authenticator, and I have also heard about Aegis, but unfortunately, it is only for android OS. I was expecting them to release an iOS version, but so far, there hasn't been one. I would like to ask if you have any recommendations for people using iPhones or Mac.
~snip~
6. Reputable Exchange :
^ In all said above was right except this, I did not agree with this. 6. Reputable Exchange :
There is no reputable exchange that could be trusted to store your crypto assets, all of them will become scams in the end if they wanted to.
So I think there is no way to trust centralized exchange, store your assets in a hardware wallet and you are the one who is responsible for keeping your seed phrase, not a third-party exchange.
Nevertheless, the rest you have mentioned was right and must people learn.
Are you using an exchange? I believe you have no choice. Binance is a reputable exchange, if it weren't, it wouldn't be able to dominate the market today. As long as you don't use them to store assets in the long term, use them to exchange, P2P, or use them for the proper purposes, then they are worth using.
February 11, 2023, 10:16:49 PM
Well said, but if I may add and this is increasing as well, we all think that we should protect ourselves at all cost specially online. But there is this so called:
https://cryptosec.info/wrench-attack/
So just be careful who you talk to in public with regards to your crypto assets or how much you have.
Because there are also crypto criminals in the offline world and you don't want to be a victim because it could cost you your lives, just saying.
This is important as well, just as there are many misconceptions about this market in general there are also misconceptions about their participants, many of the people I have listened taking about bitcoin think those that are part of this market are either scammers or awfully rich, so if someone outside of your circle of friends found out that you hold bitcoin they may think you have a lot of it and they may try to steal from you while using violent means to obtain your coins, and if you do not have the amount they believe you have you could find yourself in an extremely dangerous situation. https://cryptosec.info/wrench-attack/
Quote
What is a $5 Wrench Attack?
Basically, if someone finds out that you own a significant amount of coins, they can straight-off physically attack you, or threaten you to hand over your wallet’s private keys, or threaten you to send over the funds to them by using a deadly weapon or a basic tool that can be used for harm like a kitchen knife, a hammer, a screwdriver, or a cheap and rusty $5 wrench.
No matter how secure your funds are in your hardware wallet or on any of your devices, no computer security can save you from this type of attack.
Basically, if someone finds out that you own a significant amount of coins, they can straight-off physically attack you, or threaten you to hand over your wallet’s private keys, or threaten you to send over the funds to them by using a deadly weapon or a basic tool that can be used for harm like a kitchen knife, a hammer, a screwdriver, or a cheap and rusty $5 wrench.
No matter how secure your funds are in your hardware wallet or on any of your devices, no computer security can save you from this type of attack.
So just be careful who you talk to in public with regards to your crypto assets or how much you have.
Because there are also crypto criminals in the offline world and you don't want to be a victim because it could cost you your lives, just saying.
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