Crypto Wallet Open to Hackers? —Here’s How to Protect It!

1032

Along with security measures, you should also remain skeptical when receiving outside messages regarding your crypto wallet.

“If it’s too good to be true, it definitely is,” Martin says. “No one on Twitter is going to send you back double what you send to them.”

Lastly, “be very skeptical if someone offers to install remote screen viewing software on your laptop. I can tell you for sure Coinbase will never do that.”

2. Don’t Get Phished

Phishing scams via malicious ads and emails are rampant in the cryptocurrency world. Be careful while making crypto transactions and avoid any suspicious and unknown links.


In a recent cryptocurrency heist, a hacking group “CryptoCore” targeted cryptocurrency exchanges via spear-phishing campaigns. Attackers stole cryptocurrency worth $200 million in two years, targeting companies in the U.S. and Japan since 2018.

ClearSky stated that CryptoCore initiated a reconnaissance phase to identify the email accounts of the cryptocurrency exchange’s employees and security executives before conducting a spear-phishing attack. These attacks were performed using fake domains impersonating affiliated organizations and employees, and by embedding malicious links in documents via emails.

3. Maintain Multiple Wallets

Since there is no limitation for wallet creation, you can diversify your cryptocurrency investments in multiple wallets. Use one wallet for your daily transactions and keep the rest in a separate wallet. This will protect your portfolio and mitigate the loss of any breach to your crypto account.