Topic: Bull run has started we need to be careful with our device - page 3. (Read 536 times)

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.

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.

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.)

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?

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.

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.

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.

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.

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.

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.

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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.

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.

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.

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.

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.

Yesterday night i was walking with my friend who happens to have invested in bitcoin and also he is a bitcoin trader, though i took him as my guider whom i am following gradually to know how to trade and understand how the cryptocurrency market works. Even though here is more greener for bitcoin related discussions but i didn't have that satisfying urge to follow up here rather i love someone whom i will be seeing face to face and how he is doing it practically to enable me follow up his steps.

Last night he called me on phone to come accompany him to the nearest mall that he wanna get some things for his girlfriend that he made some profits with recent bitcoin increase and he is living a very open life, which i don't support such acts and of his showy lifestyle. When he called, 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, 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.

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!