If you haven’t noticed so far we are often bitchin’ about security here. And while there are some things that are out of your control (like hacker’s attacks), others are up to you. For example, talking about how much Bitcoins you own is a bad idea. Doing this in public is even worse because you can easily drag the attention of any fraudsters nearby. Your bragging is music to their ears as they start to see you as a target.
In case you don’t believe us, consider this – a Google executive who specializes in fighting email frauds recently discussed the matter in a chat with CNBC. Mark Risher explained that people who like to talk about their cryptocurrency fortunes in public often fall victims to email hack attempts.
“It could just be a case of mistaken identity or guilt by association,” he said, adding that cybercriminals can easily find your email. He explained that they often monitor social media accounts and target people who are smart enough to reveal they own some tokens.
“They could be using someone who seems to be low value to pivot toward somebody considered a higher value target, like somebody political in nature. Or maybe they saw that you were discussing Bitcoin on a public message board.”
Another bad idea is to use one and the same email address to both log in to social media and back up your cryptocurrency wallet. It is a piece of cake to check somebody’s email on Facebook and then hack it, reset its password and do some other nasties.
Fraudsters are getting smarter
While you are unlikely to fall for the ancient “Nigerian Prince” scam (we hope so) the bad boys often do their research pretty well before contacting you. They might be impersonating someone you know and trust.
“You might think of this generic ‘Dear Sir or Madam, I am contacting you to ask you for a favor,’ but the truth is many of these attackers have done some serious research on their victims. So you might get what we call ‘social truth’ in your message,” Risher adds.
The point here is, don’t talk about crypto. Neither in public nor in social media. Use several email addresses and pay extra caution when dealing with those connected to financial services. Level up your passwords and pins to further enhance your protection.