To protect your crypto, it’s important to take safety precautions wherever possible. However, if you notice that your computing device is behaving oddly, running more slowly, or using its cooling fan more frequently, your crypto security may be in jeopardy. Because the malware is coded to remain hidden, it can be difficult to detect.

Malware can be stored on your computer or in the browser of an infected site, and it’s most commonly downloaded from untrustworthy or compromised websites, apps, and browser extensions. Malware, once downloaded and/or run, enables a hacker to do malicious actions with your devices, which includes but is not limited to: emptying your wallet, installing a keylogger to scrape your personal information, or stealing your computer’s processing power in order to mine cryptocurrency without your knowledge, an activity known as cryptojacking. Malware attacks are another common threat to crypto security. Giveaway scams - These scams often involve someone posing as a platform founder, celebrity, or influencer and offering rewards to anyone who sends money or provides financial information to them.įor even more types of phishing attacks and scams, learn How to Spot Common Crypto Scams and Stay Safe Online.Romance schemes - An attack where someone, typically posing as a potential love interest, gains your trust and then later asks you to purchase crypto as a way to get closer to one another.Pig butchering - An attack where the scammer presents you with an enticing opportunity, gets you to make an initial deposit or purchase, and lures you into sending more funds, usually on the basis of falsified financial statements or a series of small but encouraging amounts of positive returns.Other types of phishing attacks include the following:

There are many different types of phishing attacks, but at its core, these attacks consist of emails, messages, or calls from entities that attempt to extract personal information from you, such as your login credentials or seed phrases.Įxamples of common phishing attacks include fake job offers from established companies or phone calls from someone impersonating your boss or loved one. These types of cybercrimes are as old as the internet - and come in many forms, ranging from sophisticated attempts that are highly targeted and “bespoke” to you, to unconvincing attempts that you may be able to easily identify. Many of the most common crypto security risks fall into one of two categories: phishing or malware attacks. And if you’re promised high returns with little risk or the opportunity seems a little too good to be true, it’s probably just that: a scam. If the opportunity is time sensitive and you’re being strong-armed into spending your money, it’s probably a scam. If you’re receiving a cold call about an opportunity or you’re asked to give away personal information, it’s probably a scam. It’s therefore important to stay vigilant and avail yourself of crypto security measures in order to protect your crypto.Īt its most basic level, crypto security is about using common sense.

While this gives you unprecedented freedom, it also leaves you vulnerable to malicious schemes from bad actors. What is crypto security?įor many of the most popular cryptocurrencies, transactions are largely decentralized, irreversible, and anonymous.

In this article, we’ll take a look at the types of fraudulent activity you should be aware of, including common types of phishing scams and malware attacks. Because most blockchain transactions are decentralized, irreversible, and anonymous, this makes crypto an attractive vehicle for value transfers, but also a potential target for bad actors. Learn some of the most effective strategies to protect your crypto and recognize common crypto security risks, like phishing and malware attacks.Īs cryptocurrency adoption continues to grow, it's important to recognize and avoid some of the most common crypto security risks.

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