Published
5 years ago on
September 19, 2018
“Online trading sites in which people could potentially score big trading cryptocurrencies 99% of the time require users to register an email address to link to their account. People then use the same email address to register on forums and social media. All hackers really have to do is hack the email address and presto! Down come all the other accounts linked to it, including a person’s digital wallet! Although Google and pretty much every trading site out there has made monumental efforts to ensure that this doesn’t happen, essentially the more you connect on different sites using the same email address, the more at risk you are.”The premise of this is very simple. Find a person online who claims to have substantial Bitcoin holdings, locate their email address, find a way in and there the hackers (generally) are able to find all the information they need to reset passwords, locate your wallets and drain your Bitcoin.All as a result of your own simple exposure on social media. How to protect yourselfFirstly, don’t brag about your riches online, remain modest and in turn, remain incognito. The less you give away about yourself, the harder you are to hack, right? Use unique passwords for everything. Don’t use the same password twice, try a password manager if you have trouble coming up with and remembering passwords. Perhaps even set up unique email addresses for your cryptocurrency wallets, that way, there will be no associations with the email addresses set up on your social media.Next and very importantly, don’t keep personal data, including email addresses and passwords/private keys stored on any electronic devices. If you need to write these details down, stick it on paper and keep it safe. If you can, use cold storage wallets and keep your assets offline. We always say this - but stay safe out there!References Blokt Investment Disclaimer
