Bull run has started we need to be careful with our device - page 2.

BABY SHOES

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HODL - BTC

Quote from: Z-tight on November 13, 2024, 03:15:20 PM

If your friends funds was stored in an exchange and his phone was stolen, it does not mean he would lose his coins, the phone must be protected by a password, so the thieves would not be able to access the phone without formatting it and everything on the phone will be lost in that way. Now if your friend has his email address and password to the exchange he is using, he can log in and access his funds.

Take note that storing funds in an exchange is not recommended, you have to use a self custodial wallet and have back ups of your seed phrase safely stored, in order to recover the wallet whenever you need to.

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.

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.

jcojci

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Activity: 784

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Never tell others about your Bitcoin. Don't leave your Bitcoin in your smartphone when you go out from home and leave the seed safe in a place that only you will know. Don't store your coins in an exchange and moves your coins in separate wallets which you can fully control. While you are in public area, it is better not talk about Bitcoin or how many Bitcoin you have because that can attract bad people to know for more and rob you.

This case can happens if we are not aware with the situation and want to show off to all of our friends or families. We don't know who we can trust from them so we must be careful and only tells to some people about Bitcoin but don't tells the exact amount.

If your friend keep the credential of all of his accounts, maybe he can gets his account in the exchanges.

Roseline492

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Activity: 462

Merit: 270

Quote from: DPHOR on November 13, 2024, 12:54:46 PM

I step out to meet with him where he said he was waiting for me, on the process since is late i had to go keep my phone knowing too well that is already late to use it at night, so while we moved out get all everything he needed to get from the mall, along the line we were waiting for taxi to board home while standing along the road, some boys (about 4) stopped from tricycle and snatched his phone from him and zoom off.

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,

From my point of view it was not because of his showy lifestyles that cause it because those kind of incident can be possible especially at night and besides you had already said that you were not comfortable going out with your own phone since is already late at night which means that you have the idea that is not always safe at night and besides if it was because of his showy lifestyles they may not have only collected the phone they would have demanded for more, however for the security of his account he should try as much as possible to get new phone in other to change all the password of his accounts connected to that phone including email so that they would be blocked from doing anything to his account.

Helena Yu

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Activity: 728

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Dunno, but it sounds like a made up story for me.

Robberies doesn't care with bull run, they will steal anything when they have a chance for that.

From the stories, @OP friend is very stupid when he has a girlfriend, has a showy lifestyle, and want to buy something a thing in mall. A rich person can't be so that stupid, especially a trader, he should at least know about second verification.

FortuneFollower

copper member

Activity: 168

Merit: 4

Quote from: Alphakilo on November 13, 2024, 01:16:15 PM

The simple security measures we maintained during the bear market is no different from this bull market. The whole tips has and will always remain the same irrespective to the market conditions, political landscape, economic situation and all.
They are
- Centralized exchanges remain a dangerous place to keep you Bitcoins. They cannot be trusted.
- Your seed phrase is the key to your kingdom (Bitcoin). If you give it away you lose everything you have worked hard to acquire.
- Don't trust, verify.
- Don't use a public WiFi for any transaction.

These are some of the basics that apply all round.

And the best of them all - be humble about your holdings!
Who knows what people would think to do when they know on what bags you are sitting..

?

Activity: -

Merit: -

Quote from: Frankolala on November 14, 2024, 02:08:15 AM

I feel for your friend but he might not loose his asset, just only his phone. This is because his exchange app would not easily be accessed if it is signed out. If he has 2FA authentication, then it will be very difficult for the thieves to access his exchange. If I was him, I will just look for any android phone around and try login to my exchange account with a wrong password till my account will be locked for 24hrs by the exchange making it difficult for anyone to withdraw funds. After that I will go and reset my email password attached to exchange account, so that I can change my exchange password. It's not good to show off with your crypto wealth.

Yeah, if OP's friend didn't use the measures provided for him before the trouble - his loss.
Everybody else should learn from his mistakes and be better. Securing themselves better.

fikrett

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Activity: 70

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Quote from: joniboini on November 14, 2024, 12:18:38 AM

Quote from: DPHOR on November 13, 2024, 12:54:46 PM

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.

So he doesn't turn on PIN, fingerprint lock, 2FA, or any form of protection provided by his exchanges/phone at all? Has he tried to contact the exchange after that? That sounds weird. If he's an experienced trader he should know most of those security features. I guess you should look for a better mentor who also teaches you about basic crypto security practices. I'm pretty sure even some random trader knows that not using fingerprint/PIN lock or 2FA in your device is a terrible idea.

Yeah, and we are not talking about using CEXes as a whole, but that's the story for another time.
If you have a security measure - use it, it won't be wrong to have another one piled up on top of another one.

Frankolala

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I feel for your friend but he might not loose his asset, just only his phone. This is because his exchange app would not easily be accessed if it is signed out. If he has 2FA authentication, then it will be very difficult for the thieves to access his exchange. If I was him, I will just look for any android phone around and try login to my exchange account with a wrong password till my account will be locked for 24hrs by the exchange making it difficult for anyone to withdraw funds. After that I will go and reset my email password attached to exchange account, so that I can change my exchange password. It's not good to show off with your crypto wealth.

joniboini

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Quote from: DPHOR on November 13, 2024, 12:54:46 PM

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.

So he doesn't turn on PIN, fingerprint lock, 2FA, or any form of protection provided by his exchanges/phone at all? Has he tried to contact the exchange after that? That sounds weird. If he's an experienced trader he should know most of those security features. I guess you should look for a better mentor who also teaches you about basic crypto security practices. I'm pretty sure even some random trader knows that not using fingerprint/PIN lock or 2FA in your device is a terrible idea.

DigitalCurrencyConsultant

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The bull run or FOMO?
Doge up

Getting anything in the crypto market might be a good play. (Well as long as you do your research 😜 on what you are getting.)

PrivacyG

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Never will I ever understand why somebody would be so showy. What is the point? Nobody cares. Really, nobody cares! If tomorrow you are broke, even less people will care about you. In fact. I really believe that the most enemies you make are during the road to your success. Once there is no success, there are no enemies to make any more.

If your friend was not this showy, there would be no suspicion about whether the guys who mugged him off knew about his Bitcoin holdings or it was a pure coincidence. If I was mugged off my phone by somebody who knew of my Bitcoin holdings, I would be EXTREMELY precautious and afraid for my Safety. Particularly because you have no idea what these guys are up to. And if they can not get any thing out of your phone but they were mugging you for your Bitcoin, they could return for worse.

But maybe it was pure coincidence and your friend is actually safe now. It could be simply a small lesson to learn. In fact, I do not understand one thing from your Post. How have the robbers got access to the Assets considering your friend was not holding their Cryptocurrencies in a Non Custodial Wallet but instead on an Exchange? Do the robbers have access to his Exchange now and your friend has none?

Die_empty

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Give all before death

Quote from: DPHOR on November 13, 2024, 12:54:46 PM

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!

Criminals are always on the lookout for soft targets anytime. You have to understand your environment and ensure that you are security-conscious at all times. If you live in a country where there is a high rate of crime, then you shouldn't use your phone in public at night. People who fluent their wealth are also targeted by these criminals. Nobody in the neighbourhood knows that I am involved in cryptocurrencies because there is an assumption that Bitcoiners are rich. I don't also stay late at night except I am using a personal car or a booked cab. The economic problems in some countries have led to an increase in crime, and there is a need to be security-minded at all times.

Z-tight

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If your friends funds was stored in an exchange and his phone was stolen, it does not mean he would lose his coins, the phone must be protected by a password, so the thieves would not be able to access the phone without formatting it and everything on the phone will be lost in that way. Now if your friend has his email address and password to the exchange he is using, he can log in and access his funds.

Take note that storing funds in an exchange is not recommended, you have to use a self custodial wallet and have back ups of your seed phrase safely stored, in order to recover the wallet whenever you need to.

AprilioMP

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Quote from: DPHOR on November 13, 2024, 12:54:46 PM

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.

Aanuoluwatofunmi

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stead.builders

Quote from: DPHOR on November 13, 2024, 12:54:46 PM

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.

When we are living in an environment, then we should as much to know the kind of environment it is, the types of people in such vicinity, the whether condition as well as the surveillance required from us before living in such a place.

We also have to maintain a kind of modest lifestyle whereby we don't go out unnecessarily, especially at night and if we must do so, it has to be on either an emergency or an important issue arising, this is why we should always have our asset private keys backup in a more secured place, if they stole the phone, they haven't done anything yet because you're more smarter than them by having a back up to your bitcoin.

Stepstowealth

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Quote from: dzungmobile on November 13, 2024, 01:23:09 PM

It increases security risk on your devices, wallets and your life safety can be damaged too.

Now more than ever is the time to be more security conscious because you as an investor in something whose value is increasing means you are at risk of being attacked by scammers who will like to take what you have and turn it to theirs. Scammers do not DCA or have any plans to invest, their overall plan is to steal from someone, you have to make sure it is not you that fall victim to them. It will be very painful to loose the investment yo have in this period.

Ambatman

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Never have been one to flaunt wealth thus my love for privacy.
No matter how secured you protect your funds if you let people know your source of wealth and amount
There's a likelihood of been attacked and worse case cost a life.
Well what's really rampant during Bull market is the increase in scams
But security and privacy should be given priority even in Bears.

2 FA could help and if I'm not mistaken your friends phone should be locked
How were they able to gain access to the phone?
Since it's on CEX even if they were able to gain access before anything he should have had the time to move the coins to other wallets.

peter0425

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The world is a dangerous place. Even if the robbers were aware or not about your friend’s financial status, his phone alone could be a great asset already. They could just easily reset the phone and sell it but thanks to the irresponsibility of your friend, they might just have landed in a (digital) gold mine.

Though if they are amateurs and not exactly technologically advanced, maybe his funds will be safe. But I am not sure if he can have it back anymore. If you know you are handling sensitive information and is holding assets in your phone, take extra precautions. This will serve a big lesson to him and to all of us.

dzungmobile

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Quote from: DPHOR on November 13, 2024, 12:54:46 PM

I never wanted to share this with the forum but i felts it would also help most of us here and also let people be more conscious with their phones or devices especially in this bull run.

You always need to be careful with your device and wallets, not only in bull run. If you lose 1 bitcoin, in either bull market or bear market, it's the same, 1 bitcoin = 1 bitcoin.

Don't underestimate your loss in a bear market or overestimate your loss in a bull market.

Be OPSEC and secure your devices, wallets, with good habits when using your devices and are on Internet as well as trying to keep your low profile. Your investment in bitcoin need to be in secret and private mode too. Don't try to be noisy and inform others that you are a Bitcoin investor.

It increases security risk on your devices, wallets and your life safety can be damaged too.

Physical Bitcoin attacks.
Bitcoin and security resources.
Security checklist.

Alphakilo

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The simple security measures we maintained during the bear market is no different from this bull market. The whole tips has and will always remain the same irrespective to the market conditions, political landscape, economic situation and all.
They are
- Centralized exchanges remain a dangerous place to keep you Bitcoins. They cannot be trusted.
- Your seed phrase is the key to your kingdom (Bitcoin). If you give it away you lose everything you have worked hard to acquire.
- Don't trust, verify.
- Don't use a public WiFi for any transaction.

These are some of the basics that apply all round.

Topic: Bull run has started we need to be careful with our device - page 2. (Read 314 times)