Saving Your Investments in Ethereum(ETH): Top 5 Facts Everyone Needs to Know

Any of the listed methods of stealing coins works only if the user shows imprudence, inattention, and excessive gullibility.

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Saving investments ETH
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Nowadays, investing in cryptocurrencies is attracting more and more people all over the world. Although the rise in digital coin rates attracts not only honest investors. It is also a great help for fraudsters who want to steal coins. In this article, we will share the most popular schemes created to steal your ETH or any other digital coins.

Virus thieves and the risks of copy-paste

What do you do when you want to send cryptocurrency to another user or exchange? That’s right – you copy the address and paste it into the transaction form in your wallet. This is where CryptoShuffler comes into play. It’s a malicious program that replaces the copied data in the clipboard.

You copy one blockchain address and paste a different one into the transaction form. Who’s going to check this long string of numbers? In this case, the funds go to the addresses of the attackers’ wallets.

A similar virus was recently found by 360 Total Security analysts. Clipboard Wallet Hijacker also scans the clipboard and changes cryptocurrency addresses.

Once a transaction has entered the memory pool, it cannot be canceled or returned in any way. This is exactly what the attackers are counting on.

How to protect yourself?

  • do not install suspicious software;
  • regularly update your antivirus and scan your computer and mobile devices;
  • carefully check the addresses to which you are going to send cryptocurrency;
  • use QR codes.

Dangerous Wi-Fi reveals all your secrets to hackers

Wireless security protocols WPA2 has several vulnerabilities. Without going into technical details, any well-trained hacker can hack your Wi-Fi at home, work, or in the car. This will give him the ability to scan all information passing through the wireless network and get logins and passwords for your cryptocurrency wallets and accounts on cryptocurrency exchanges.

Cybercriminals are unlikely to waste time hacking your home Wi-Fi unless you somehow managed to draw the attention of attackers to your personality and finances. Open public networks in cafes, airports, and other places are another matter. Here hackers will find something to profit from.

How to protect yourself?

  • never log into wallets and cryptocurrency exchanges using a public network;
  • don’t talk about your savings in cryptocurrencies publicly and don’t attract the attention of intruders;
  • check for firmware updates for the router and download them only from the manufacturer’s official website.

Fake exchanges and wallets

The Coinmarketcap resource base contains the list of crypto exchanges, and they got in the rating of this site. The number of ethereum to bitcoin exchange platforms and cryptocurrency wallets is almost impossible to count. New services appear almost daily, but far not everyone stays long.

Many sites create and advertise on purpose to quickly collect as many coins as possible from gullible users and disappear.

How to protect yourself?

  • Don’t use little-known services, even if they offer fantastic deals. Too attractive offers, on the contrary, should alert you.
  • Check the documentation and service data. Registration, information about the founders, and any other information you can find. For example, if the exchange’s website contains the names of its founders, look for their profiles on social networks. Didn’t find anything? The information is likely false, and it is clearly not worth working with such an exchange.
  • Get started with a new service with a trial transaction for the minimum amount.
  • Keep the main stock of cryptocurrency in cold wallets. Transfer only the amount necessary to complete transactions to the accounts of exchanges and other services.

Conclusion

Any of the listed methods of stealing coins works only if the user shows imprudence, inattention, and excessive gullibility. Stealing cryptocurrencies from a savvy crypto investor is much more difficult. So never lose your vigilance, treat financial transactions responsibly and scammers will not get to your ETH.

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