The recent rise of the Bitcoin price to increase the number of incidents related to the fraud of crypto users. The rise in price of the main digital asset returned to it a share of its former popularity, due to quite a lot of new investors appeared in the industry. According to the research department of Binance, they can become the main victims of hacker attacks.
How Are Not Becoming A Victim Of Fraud
One of the most popular tactics of intruders is the replacement of the victim’s SIM card. Here, social engineering skills are applied. A fraudster, pretending to be an ordinary user, convinces a mobile operator to release a new SIM card with the specified number, because the old one is supposedly lost.
Crypto businessman Michael Turpin once fell for such a trick. Hackers were able to seize his phone number and get access to his coins worth more than 20 million dollars.
Once criminals gain control of your phone number, they can use it to bypass two-factor authentication. Without 2FA, it is quite easy to take possession of cryptographs on exchanges.
Recently, Andreas Antonopoulos also expressed concern about the increase in the number of scams.
It’s been about a month since this new wave of scammers started up again.
Last time was August-December 2017.
The price dump in crypto made them go away and now they’re back.
— Andreas M. Antonopoulos (@aantonop) June 20, 2019
Once again, any suggestions to double your state in seconds without any extra effort in 99.9 % of cases are an obvious fraud. Do not become a victim of a regular financial pyramid or a market manipulation scheme.