Finally, they snatched your friend's phone and that does not mean they have automatic access to his exchange account. Your friend should have a security lock in his phone whereby if the phone is flashed, it will return to factory settings. Besides, your friend also has two-factor verification for login into the exchanges.
I've asked the same thing previously, but OP doesn't reply. So yeah, it sounds unbelievable for someone who's been trading for a while to ignore every basic security protection exchanges give them. Then again I saw someone make stupid mistakes here and there even though they know it's bad practices, such as using a regular paper to back up their private key without any protection whatsoever, store back up on a cloud storage, etc. 
Topic: Bull run has started we need to be careful with our device (Read 314 times)
Bull run or not, we need to be accountable with our own devices. Most especially if that is the source of our main funds, then it should be given the highest care. And as much as possible, be lowkey and avoid showing off because that will only give hints to the people around that you are having financial independence. Ensure your investment in a hardware wallet so that if anyone snatched your phone, your investment won’t be easily accessible at all. Be cautious and be responsible of your own investment safety.
Your advice is making sense but it is not derived from the story you narrated. In fact your story and the advice is not related and I could even say that the story is totally made up. Even if the story was to be true, anyone can be rubbed at night standing by the roadside whether a bitcoiner or not.
Secondly, your friend was not robbed because he decided to buy things with bitcoin profit for his girlfriend. It was a coincidence, even a farmer at that point could be robbed.
Finally, they snatched your friend's phone and that does not mean they have automatic access to his exchange account. Your friend should have a security lock in his phone whereby if the phone is flashed, it will return to factory settings. Besides, your friend also has two-factor verification for login into the exchanges.
Secondly, your friend was not robbed because he decided to buy things with bitcoin profit for his girlfriend. It was a coincidence, even a farmer at that point could be robbed.
Finally, they snatched your friend's phone and that does not mean they have automatic access to his exchange account. Your friend should have a security lock in his phone whereby if the phone is flashed, it will return to factory settings. Besides, your friend also has two-factor verification for login into the exchanges.
That is why you need to be lowkey with what your investments are. Even not in Bitcoin, you need to keep yourself away from the attention of the many because that's how they're getting the idea of what you do and how do you do. Having your assets on a mobile app is also a no-no. A big mistake that someone does that and that's why hardware wallets are important for which you can simply keep it in a place where it is secure and the next thing that you'll have to think of is on how you'll keep your seeds/private keys and those important stuff.
It's important to keep the hardware wallet and its private keys at home stored in a safe place nobody else has access in a frequent basis. It's not necessary to have a vault, but if the investor has a safe drawer it must be already enough. Also, it's important to make sure it's a clean and dried place in order to not damage the device along the time. Investors just have to take extra precautious if they have children around, since they are curious and want to play with every objects they find. On the other hand, for an investor who lives by himself it must be pretty easy to organize the safety of his financial gadgets such as hardware wallets without unexpected troubles. 
Bull run has started we need to be careful with our device
Keeping Bitcoin assets safe in a storage wallet by paying attention to the device used does not have to be during a bull run.
As long as we have bought Bitcoin from the beginning and stored it in a wallet, from that moment on and even before that we must first pay attention to the storage wallet that will be selected.
It is highly recommended for beginners to seriously study how to store Bitcoin properly and correctly before taking action to own Bitcoin.
This particular period is when you hear all such story because of the massive joy and looseness that most Bitcoiners get over the fact that the bull market is spiking up and profits is pouring in but people forget this important quote which states " people can't kill or haunt what they actually don't know" although sometimes it's due to the carelessness of the Bitcoiner as maybe saving or keeping his asset in the wrong storage medium that would be easily access of paraventure something uncall for happens.
The run is here and bitcoin recent increase has spike up the space and has gain more attention than ever, so anyone who is trading or holding bitcoin should do that in a calm way without letting the next person knows about their holding. Most importantly do not always move out with your trading device be it smart phone, ipad, ipod or whatever the case maybe.
The bull run always comes with alot of scammers as they are hunting for victims that they can get as they are new to the industry. Protecting our wallets and coins is our responsibility therefore we can not be depending on exchange or other centralized platforms to protect our Bitcoin for us. Not bragging about our investment can help us alot because there are scammers and hackers looking for their next victim. A trader should have a trading office at home where he does all his trading so he does not have to move around with his trading devices. Not only will you save yourself the mistake of losing your device but you also protect your device from robbers. Alot of individual are suffering therefore the rate of crime is on the increase too so we have to be more careful..
That is why you need to be lowkey with what your investments are. Even not in Bitcoin, you need to keep yourself away from the attention of the many because that's how they're getting the idea of what you do and how do you do. Having your assets on a mobile app is also a no-no. A big mistake that someone does that and that's why hardware wallets are important for which you can simply keep it in a place where it is secure and the next thing that you'll have to think of is on how you'll keep your seeds/private keys and those important stuff.
Do you know that not only in bull run that we need to be extremely careful both in bear run or at all times we need to be watchful with our devices. The simple truth is that when going into bitcoin investment we should always take precautions of our devices and we should also have specific device to trade, specific device for mobility. Such as an easy going phone that could be dedicated only for calls or that can be accessible by anyone, this phone or device won't have important things that contains your private key, seedphrase, 2fa or even a logged in mail for security purposes. Those guys who came down to steal from your friend are people who seems to be long in doing that particular criminal activity.
If what the OP said then there is still a possible chance for the trader to be able to access it and need to tell the exchange about the knorology... it may take a long time to reopen the account including losing 2FA which is more difficult to reach and usually will be re-verified again.
I don't even recommend that people keep their 2fa authenticator app on the same device that they access their exchange with, so if op's authenticator app is in another device other than the stolen one, then they should be able to log into their exchange account and access their funds.Therefore... until now not keeping a lot of assets on the exchange is more risky than safe... even the exchange can open your account at any time for no apparent reason.
Hardware is much more secure... I now use this to store BTC.
Centralized exchanges can confiscate your funds at anytime, the only wallet you should use is your self custodial, open source wallet. Hardware is much more secure... I now use this to store BTC.
Bull run has started we need to be careful with our device
Keeping Bitcoin assets safe in a storage wallet by paying attention to the device used does not have to be during a bull run.
As long as we have bought Bitcoin from the beginning and stored it in a wallet, from that moment on and even before that we must first pay attention to the storage wallet that will be selected.
It is highly recommended for beginners to seriously study how to store Bitcoin properly and correctly before taking action to own Bitcoin.
Everything could be told more briefly, without various details that are of no interest to most of them.
Keep your funds in a safe place; do not use other people's Wi-Fi networks; block your gadgets; do not overload them with unnecessary applications; and be careful with the links you follow. It is best to buy yourself a hardware wallet; then there will be no need to use a mobile phone for storage.
The security of your gadgets is important not only during a bull run; I think the OP should understand this.
Yes I completely understand the whole the thing but I think giving details will tell how it goes than just saying something without how it happens, I don't think you will understand what I am passing through to the community, but with my explanation you have the basic knowledge of what I am saying so, maybe if I am to give expression next I wouldn't have to be this deep in explanation. Most times people often say especially trusted users always have this mindset of people cooking stories for merits purpose even though they meant what they are saying in context. Keep your funds in a safe place; do not use other people's Wi-Fi networks; block your gadgets; do not overload them with unnecessary applications; and be careful with the links you follow. It is best to buy yourself a hardware wallet; then there will be no need to use a mobile phone for storage.
The security of your gadgets is important not only during a bull run; I think the OP should understand this.
I was like what could be the problem or could it be that some people already gotten information about him to have come to rob him this way?
This easily speak to me that is a results of his showy lifestyles and if he is that calm or doesn't always show off about his bitcoin investment there wouldn't had been a day such incidents could had happened to him, or just imagine I came out with my phone i could have also lose my phone. The funny thing is that he doesn't leave his assets into a non custodial wallet, instead he keep saying that he preferred leaving his assets into exchange to enable him to trade when the market requires to trade or when their is a sharp buy or sell. But now, he lost everything; his phone, assets.
Snatching of a phone can be normal with nothing related been informed about his cryptocurrency activities because the phone alone is an asset, and getting his phone is not enough for them to have access to ll his exchange wallets because most of them have external securities that require face ID, or even trading password, and some of them even have 2FA.This easily speak to me that is a results of his showy lifestyles and if he is that calm or doesn't always show off about his bitcoin investment there wouldn't had been a day such incidents could had happened to him, or just imagine I came out with my phone i could have also lose my phone. The funny thing is that he doesn't leave his assets into a non custodial wallet, instead he keep saying that he preferred leaving his assets into exchange to enable him to trade when the market requires to trade or when their is a sharp buy or sell. But now, he lost everything; his phone, assets.
Meanwhile, I am not in support of an expensive lifestyle that involves showing off how well you are doing crypto, it is something digital not physical, you can have more than 10BTC and no one will know unless you tell them, showing off will exposure you to such acts that just happened as you have explained in this thread.
Quote
What i learned from that accident is that;
- At night we should always learn to keep our important device at home.
- Always store our assets in a non custodial wallet and keep seedphrase safe from same device.
- Always use phone that we do not attached our crypto trading apps.
- Move out important assets to other wallets instead of using that same phone or personal computer, which we have only access, keep our seedphrase out from same phone we are using.
The run is here and bitcoin recent increase has spike up the space and has gain more attention than ever, so anyone who is trading or holding bitcoin should do that in a calm way without letting the next person knows about their holding. Most importantly do not always move out with your trading device be it smart phone, ipad, ipod or whatever the case maybe.
Welcome the bull run!
That's a good observation. Non-custodial wallets are safer, but some people still keep their seed phrases and private keys in their phones or emails, which is very wrong.- At night we should always learn to keep our important device at home.
- Always store our assets in a non custodial wallet and keep seedphrase safe from same device.
- Always use phone that we do not attached our crypto trading apps.
- Move out important assets to other wallets instead of using that same phone or personal computer, which we have only access, keep our seedphrase out from same phone we are using.
The run is here and bitcoin recent increase has spike up the space and has gain more attention than ever, so anyone who is trading or holding bitcoin should do that in a calm way without letting the next person knows about their holding. Most importantly do not always move out with your trading device be it smart phone, ipad, ipod or whatever the case maybe.
Welcome the bull run!
Always exercise caution, avoid associating with people you don't trust, and never trust anyone with anything related to cryptocurrency.
I'm sorry if your friend not only lost his phone, but assets on an online exchange as well. To be honest, I don't quite understand how it happened, as there's usually a fingerprint and/or passcode lock on a smartphone these days, and once your phone is stolen, you just need to get to your laptop or something like that ASAP to change all passwords, block bank accounts etc. Still, in case of Bitcoin, I do agree it's better to be careful and to store BTC in a non-custodial wallet, without accessing it from the phone in general.
That scenario is also possible because as far as I know, there are some investors who only use smartphones as their sole means, they do not use laptops or any second device. In case they don't backup their data like emails, passwords, private keys...then when they lose their smartphone, it means they will lose everything. But in this case the thief won't be able to get any data back because as you said: most of us use passwords for our phones so that no one can get our data. That guy has a chance to get his assets back if he still remembers the email because he left his crypto assets on centralized exchanges.
When storing bitcoins, use a non-custodial wallet or preferably a hardware wallet and keep 1 or 2 backup copies of seedphrase in safe places.
What i learned from that accident is that;
- At night we should always learn to keep our important device at home.
Do you think that daylight makes a difference? Have a look at what happens in London at any time, there is a massive phone theft problem going on.- At night we should always learn to keep our important device at home.
- At night we should always learn to keep our important device at home.
- Always store our assets in a non custodial wallet and keep seedphrase safe from same device.
- Always use phone that we do not attached our crypto trading apps.
- Move out important assets to other wallets instead of using that same phone or personal computer, which we have only access, keep our seedphrase out from same phone we are using.
I think that everyone should take care of their smartphones security very seriously. It's very clumsy to use another smartphone for going out, a smartphone where you don't have access to trading apps and so on, I don't advocate for such a big fear but instead it's better to improve the security of device. Of course, if we live in a dangerous area or the crime rate has increased in our territory, we shouldn't keep Bitcoins in our wallet or maybe keep what we can afford to lose.- Always store our assets in a non custodial wallet and keep seedphrase safe from same device.
- Always use phone that we do not attached our crypto trading apps.
- Move out important assets to other wallets instead of using that same phone or personal computer, which we have only access, keep our seedphrase out from same phone we are using.
I always say that the security of your assets is very individual. What's safe for some people, won't be safe for others and what's recommended for others to do, might be an extra unnecessary headache for others.
By the way, the price of Bitcoin is going so high, everyone needs to be extra careful and no one should not vaunt the fact that they hold Bitcoin. For many people, it's not safe I guess but not showing off your wealth by buying a new car or clothes, is ridiculous to my mind.
I'm sorry if your friend not only lost his phone, but assets on an online exchange as well. To be honest, I don't quite understand how it happened, as there's usually a fingerprint and/or passcode lock on a smartphone these days, and once your phone is stolen, you just need to get to your laptop or something like that ASAP to change all passwords, block bank accounts etc. Still, in case of Bitcoin, I do agree it's better to be careful and to store BTC in a non-custodial wallet, without accessing it from the phone in general.
It’s important to protect your crypto at all times, not just during a bull run. Obviously during a bull run though crypto becomes a hot topic & scam attempts are more common. Keep aware at all times, always be cautious. Do not click on or download any suspect files. Obviously make sure your coins are in self custody but it’s good practise to be extra cautious online any way. So be aware of phishing emails, stay smart.
This period, alot of bitcoiners are actually drawing attention to themselves without them being conscious of their actions. The social media space right now is filled with bitcoiners celebrating every price increase with posts and hashtags sending different signals to different people. We might have tried our best in protecting our wallets/coins from hackers, but physical theft of our devices and other belongings is still a loss to us. It is not security wise to engage in activities that will expose our identity. Security risks in bitcoin investment is not only limited to cyber theft, physical theft too is possible when people see us as potential targets.
Showing off conspicuous wealth especially if he always shows ownership of bitcoin assets is dangerous, other people can stalk you under any circumstances, when there is a chance the robber will act and stab you.
This means that there is always a saying - never put eggs in one basket - all of us know that keeping all assets in the exchange is dangerous, there is no security that can be accounted for unless you yourself bear the risk.
Keep assets in a secure hardwallet (including seedphrase).
Don't spread your wealth or coins around.
Agree with others do not use public wifi to trade.
Make sure it's all secure.
During this bullrun, there will be many crimes including on the internet or in the real world because everyone knows that the price of bitcoin is rising high.
This means that there is always a saying - never put eggs in one basket - all of us know that keeping all assets in the exchange is dangerous, there is no security that can be accounted for unless you yourself bear the risk.
Keep assets in a secure hardwallet (including seedphrase).
Don't spread your wealth or coins around.
Agree with others do not use public wifi to trade.
Make sure it's all secure.
During this bullrun, there will be many crimes including on the internet or in the real world because everyone knows that the price of bitcoin is rising high.
Everything could be told more briefly, without various details that are of no interest to most of them.
Keep your funds in a safe place; do not use other people's Wi-Fi networks; block your gadgets; do not overload them with unnecessary applications; and be careful with the links you follow. It is best to buy yourself a hardware wallet; then there will be no need to use a mobile phone for storage.
The security of your gadgets is important not only during a bull run; I think the OP should understand this.
Keep your funds in a safe place; do not use other people's Wi-Fi networks; block your gadgets; do not overload them with unnecessary applications; and be careful with the links you follow. It is best to buy yourself a hardware wallet; then there will be no need to use a mobile phone for storage.
The security of your gadgets is important not only during a bull run; I think the OP should understand this.
@OP, I think it is a full robbery, this four kids who snatched the phone of your friend are probably professional snatchers, or it is their means of living. They do not need any information about the person or its wealth if they wanted to steal something. They will just grab whatever catches their attention for profit. At least you and your friend are safe, and this experience should be a learning for everyone that as much as possible avoid using expensive cellphone when in the public places.
Aside from that, we should also be careful clicking links from the SMS messages especially when it is a message that we won something when we never even registered on the site. Be cautious and vigilant when in public places, make sure that our expensive stuff are well hidden from the prying eyes of people who have wicked intentions.
Aside from that, we should also be careful clicking links from the SMS messages especially when it is a message that we won something when we never even registered on the site. Be cautious and vigilant when in public places, make sure that our expensive stuff are well hidden from the prying eyes of people who have wicked intentions.
Jump to: