Bitcoin is rallying to hit its all-time high. Many people are pumped with the opinion that when it breaks the 20k barrier, it will be unstoppable as it will set a new huge All-Time High record. While that is exciting and great, the festive season approaches with a lot of activities to commemorate the season. Being seemingly repetitive of the thrills crypto natives experienced in 2017, all must be wary of scammers and hackers that lurk in the dark corners of the crypto street. The Currency Analytics will always be on guard to protect its readers.

Validate Information from Official Channels and Verified News Websites

There have been several recent sad reports of scammers’ activities and there is a need to be on alert especially at this time. It is necessary to always watch out for information and news from official project channels and verified crypto news channels like TCA. Many projects will be running community giveaway activities this season. Therefore hackers and scammers may want to use the opportunity to rid many of their hard-earned funds. One of the known ways is through phishing links in e-mails and direct messages on Twitter, Facebook, and Telegram. Unfortunately, many people who are just hearing about cryptos are very new to the strategic plans of scammers. Worse still, few who have known about cryptos for years have also been a victim. 

Be a Crypto Enthusiast

Crypto enthusiasts are curious people, they are fact-checkers, they are junior researchers who would not jump int conclusions without at least a surface level of due diligence. Whenever they get suspicious e-mails even from verified mail senders, they check other channels. This is to satisfy their curiosity. Enthusiasts are active partakers in social media platforms. They ask questions because there are no stupid questions. Be a Crypto Enthusiast.

Stellar is Building High Walls of Protection Around its Community

Recent occurrences around Stellar XLM has shown the level of desperation of hackers. Somehow hackers got control of the mailing lists via an API key used fr a third-party service. They were able to send emails to the people on the mailing list, that they should reset the keys to their wallets. For anyone who understands how crypto works, they will see the strategy by reading the mail. Because they know that there is no way Stellar Development Fund (SDF) will ever know if the private key of anyone is compromised unless the account owners voice it out. Additionally, there is no way for SDF to replace secret keys. SDF on December third, in a blog post, made the clarification on their efforts to get to the bottom of the situation and advised that everyone should review the security guide to know how to protect themselves.

“Unfortunately, cyber fraud is rampant and has only increased during the COVID-19 pandemic.  We encourage everyone to review our security guide to learn more about protecting yourself from scams and phishing attempts like this one. The broader Stellar ecosystem is also a great source to find real-time warnings about scams.”

Stay safe in this crypto bull season and beyond.