In recent years, the blockchain industry has developed rapidly, but with the swift expansion of the industry, various issues have also emerged. Exchanges, as a crucial part of the blockchain ecosystem, hold a particularly important position, especially in meeting users' trading needs, over-the-counter (OTC) transactions, and other essential functions. However, problems at exchanges are frequent, and fraudulent activities are common. Issues such as Ponzi schemes, exit scams, hacking attacks, and fake trading data occur from time to time.A large number of exchanges globally have already faced closures or security incidents due to various issues, resulting in significant user fund losses and market instability. Additionally, there are smaller platforms that imitate well-known exchanges, and even fraudulent exchanges created solely for scams. These platforms typically deceive users into investing and trading by mimicking the interfaces and branding of legitimate platforms. Not only do they lack basic security measures, but they often disappear quickly with the users' funds, causing significant financial losses. Due to their short operational lifespans and lack of transparency, many of these fraudulent activities are not disclosed in time, further exacerbating market chaos and user panic.
The chart below only accounts for well-known exchanges, with amounts exceeding several billion dollars and impacting tens of millions of users.

When issues occur at centralized exchanges, they often involve large financial losses and numerous users. Due to mismanagement, hacking, and other reasons, the compensation process is challenging and prolonged, leaving many users unable to recover their losses effectively. For example, in 2014, the Mt. GOX exchange lost approximately 850,000 bitcoins due to a hacking attack, worth around $450 million at the time, affecting about 240,000 users. Similarly, the FTX exchange collapsed in 2022 due to fund misappropriation issues, involving approximately 1 million users, with losses ranging from $8 billion to $10 billion.Thus, choosing a safe and reliable exchange is crucial for users. They should carefully consider the security and reputation of the platform to avoid unnecessary risks to their assets.
WikiBit's Mission
WikiBit emerged in response to this backdrop, establishing itself as a professional, authoritative blockchain information query platform. Leveraging its extensive industry experience and expert knowledge, WikiBit provides transparent, secure, and reliable blockchain information services to users worldwide, helping investors make informed decisions in the complex market environment. Whether for newcomers to the blockchain space or seasoned investors, WikiBit is committed to offering comprehensive support, becoming a solid pillar for users in the digital asset arena.
WikiBit's expertise is reflected in its advanced technological framework and rigorous evaluation system. The platform utilizes innovative sniffing systems and big data analysis, taking into account over 70 dimensions, including influence, financial licensing, proof of reserves, on-chain data monitoring, and public sentiment monitoring, to comprehensively score exchanges across the globe. This meticulous analysis not only reveals the overall strength of exchanges but also provides users with an intuitive rating system, helping them quickly evaluate and make the best decisions, significantly reducing the time and research effort required when selecting an exchange.
To ensure users receive the most accurate and reliable information, WikiBit doesn't rely solely on technology but has also introduced a Field Survey feature. By dispatching professional teams to personally visit and verify the actual operations of exchanges, WikiBit can validate the authenticity and reliability of the information collected directly from the source. This initiative further enhances the authority and credibility of the platform’s data, giving users greater confidence in relying on WikiBit’s information for making investment decisions.
Additionally, WikiBit’s services extend beyond information queries. It also offers modules for complaints and rights protection, risk exposure, and credit evaluation, helping users avoid potential risks and pitfalls. WikiBit regularly publishes updates on blockchain industry trends and analysis, assisting investors in gaining market insights and seizing early opportunities. In May 2024, WikiBit officially became a member of the British Blockchain Association (BBA), further solidifying its position as a leading global blockchain information query platform.
Certification from APAC Insider

APAC Insider is a reputable media platform focusing on business strategies and trend analysis in the Asia-Pacific region, and it is part of the UK-based AI Global Media. Since its establishment in 1996, APAC Insider has gained widespread influence globally through its in-depth research across industries and strict evaluation standards. The awards it grants cover leading companies in various sectors, and the evaluation process combines votes from over 600,000 professionals with analysis from an internal research team, ensuring the awards' high authority and credibility.
Receiving an APAC Insider award signifies that a company's excellence in the industry and global influence have been fully recognized. WikiBit, with its unique product features, high industry expertise, and real assistance to global users, was awarded the Best Blockchain Query Platform of 2024 by APAC Insider. This honor not only reflects WikiBit's leading position in the blockchain industry but also marks a further expansion of its global influence. WikiBit will continue to provide reliable blockchain information services through transparent data analysis and on-site verification, promoting the healthy development of the entire industry.

#SafeInvestingWithBinance #SecureYourProfits #WikiBit
#cryptoscams #exchanges

Key Takeaways
Keep your seed phrase offline to safeguard against digital theft.
Be vigilant against spoofed influencer social media accounts by verifying profile authenticity.
Avoid accessing your crypto wallet or making transactions over public WiFi.
Be cautious of livestream videos promising crypto giveaways. Check the channel's legitimacy and promotion style.
Be vigilant against AI-generated deepfake scams by paying attention to inconsistencies in video and audio.
As cryptocurrencies increasingly enter the mainstream, concerns about their security have become more pressing. Every year, cybercriminals steal staggering amounts of digital assets. Staying vigilant is key to protecting your cryptocurrency investments in this dynamic environment. This article will outline the top five security best practices to help you shield your digital assets from various threats.

How Can I Secure My Cryptocurrency Holdings?
To secure your crypto holdings, you must always be vigilant as to what scammers can do and be proactive with your protective measures. Below are some steps you can take to secure your digital assets.

1. Secure Your Seed Phrase
Your seed phrase (also known as recovery phrase) is the gateway to your wallet and cryptocurrency holdings. It's a sequence of 12 to 24 words that serves as your wallet master key in case you lose access to your wallet or need to migrate to a new device. Below are some tips on how to secure your seed phrase.
Store your seed phrase offline
The moment you get your seed phrase, avoid saving it in local folders or cloud storage. Storing the phrase online may expose it to potential hacks. The safest approach is to store them offline.
One way to do this is by investing in a hardware wallet that can generate your seed phrase and store it offline. Another option is to back up your seed phrase physically inside a vault or safe. You could use a paper backup, but it’s safer to use a metal plate with the seed phrase engraved.
Split your seed phrase
If you want to enhance the security of your seed phrase further, you may split it into multiple parts and store them in different secure locations. Keep copies of your seed phrase in various physical places, such as bank vaults, safety deposit boxes, or trusted individuals. Ideally, no one but you should have access to all parts of your seed phrase.

2. Beware of Social Media Account Spoofing
Social media platforms have become breeding grounds for cryptocurrency scams, with scammers creating fake accounts that closely mimic well-known exchanges or celebrities. Below is a reminder from the real Vitalik Buterin, warning users about the thousands of fake profiles out there pretending to be him.
These malicious parties try to dupe and scam users by mimicking or spoofing well-known accounts. Here are some steps to protect yourself from social media account spoofing.
Check for verification signs: Look for blue check marks or verification symbols on profiles. However, be aware that these can be faked or bought. 
Check the handle: The handles are usually a giveaway for fake profiles. Savvy scammers will try to keep the names as similar to the original ones as possible. For example, “@Vita1ikButerin” instead of “@VitalikButerin”.
Scroll: Scroll through the profile and try to see some historical posts. This should give you an idea about the profile’s authenticity.

3. Avoid public WiFi
Public WiFi networks are notorious for lacking security and susceptibility to cyberattacks. Accessing your cryptocurrency wallet or conducting transactions while connected to public WiFi can put your assets at risk.
Public WiFi networks are vulnerable to a range of cyber threats, including:
Evil twin attacks: Hackers set up malicious hotspots with trustworthy names (e.g., "Guest WiFi Hotel") to intercept your data when you connect.
Man-in-the-Middle (MitM) attacks: Malicious actors can intercept data transmitted between a WiFi router and a user's device, potentially accessing sensitive information like login credentials.
Password cracking attacks: Scammers use software to attempt numerous username and password combinations to unlock a router's management interface.
Avoid using public WiFi networks when accessing cryptocurrency accounts or executing transactions. For more information, please check Why Public WiFi Is Insecure.

4. Watch out for fraudulent livestream videos
Scammers have turned to platforms like YouTube and Twitch to spread cryptocurrency fraud. Typically, scammers use stolen video content to run fake livestreams that promote fake giveaways. In some cases, they will use hacked YouTube accounts with millions of followers and try to convince users to join their giveaways by sending some cryptocurrency to specific addresses.
For example, you could come across a video of Elon Musk, Cathie Wood, and Jack Dorsey discussing crypto and blockchain technology. However, scammers may use a legit video to promote their fake or stolen channel and a fraudulent giveaway.
Make sure you do your due diligence before engaging with any live video, especially those related to cryptocurrency giveaways. In the vast majority of cases, the giveaways will ask you to send money first before receiving anything back. But you will lose your money if you do that.
Verify the legitimacy of the channel by considering factors such as the number of videos, the presence of verification badges, and the channel's creation date. But be careful and make sure to check multiple data points because hacked accounts may seem legit at first and even have millions of subscribers.
In addition, you can check the official social media accounts of the people involved in the video. If the promotion is legit, you should be able to find some information from multiple reliable sources.

5. Beware of AI Deepfake Scams
Deepfake technology uses artificial intelligence (AI) to create fake videos that look real. It combines existing images and videos to make it seem like people are doing or saying things they never did. As you can imagine, scammers have started using deepfake to create highly intricate scams.
Hackers use deepfake to pose as someone else or pretend to be experts. Hackers often trick their victims with fake contests or investment opportunities, rushing them with deadlines.
So, what can you do to protect yourself from these deepfake scams?
Pay attention to the face: At the end of the day, deepfake stitches together numerous images to create the content. Pay attention to blinking patterns and lip-syncs.
Inconsistent audio: Robotic-sounding voices or unusual fluctuations may indicate a deepfake. Make sure you are closely listening for any inconsistencies in audio quality.

Questions: When interacting with a suspected deepfake, make sure you ask many questions that only the real person will know. Make sure you have some background information to continually cross-reference for validation.
Closing Thoughts
Protecting your cryptocurrency assets is your responsibility. In this article, we have detailed five best practices to keep your coins safe:
Secure your seed phrase.
Beware of social media account spoofing.
Avoid public WiFi.
Be wary of fake livestream videos.
Beware of deepfakes.
As time progresses, scammers become more sophisticated, devising intricate schemes. At the end of the day, knowledge and vigilance are your strongest allies. Stay informed, stay secure, and protect your digital wealth.

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Me. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions. This material should not be construed as financial, legal or other professional advice.
⚠️⚠️⚠️Risk Warning.⚠️⚠️⚠️
$BTC
$SOL
$BNB
#SecureYourGains #SecurityDepositScams #SecurityAlert #SecureYourProfits #SecureInvestments"

Yes, $HMSTR has made its way onto Binance, but before you hit that sell button, take a deep breath and reconsider your strategy. The choice you make today could either solidify your position or leave you scrambling to recover. Don’t be the one holding the bag when the music stops. Here's why selling could be your smartest move right now:

💣 1. Massive Token Supply = Ticking Time Bomb
With over 100 billion tokens already in circulation and even more waiting in the reserves for "Season 2," $HMSTR ’s value is on shaky ground. This massive oversupply could spark a brutal sell-off, erasing your profits in the blink of an eye. If you’re holding too long, you might just be left in the dust.

🚨 2. Community Trust is Crumbling
Thousands of users have been banned for alleged "cheating" scandals, throwing the community into disarray. Confidence is plummeting, and as trust erodes, a mass exodus of investors may follow. Imagine the wave of selling that could trigger—are you prepared for that? The herd mentality could work against you if you're not ahead of the curve.

📉 3. Weak Hype, Big Risk
The buzz around $HMSTR has been disappointingly quiet. With a low starting price and lackluster hype, the opening bell could trigger a flood of selling pressure. When excitement fizzles, so do profits. Don’t get caught in a panic sell-off when the market mood turns sour.

⚠️ 4. Minimal Utility, Maximum Exposure
What exactly does $HMSTR offer? An anonymous team, a vague roadmap, and little to no innovation—red flags everywhere. Other tokens like $DOG and $NOT are pushing boundaries, while $HMSTR feels stagnant, stuck in neutral. Why hold onto something when its future seems murky at best?

💡 My Move?
I've already sold 90% of my holdings. Staying any longer feels like a bet on a sinking ship. Sometimes, the smart play is cutting your losses and securing your gains before it’s too late. Hope is great, but strategy wins the game.

⏳ Act Now—The Clock is Ticking Time is running out. Don’t wait until it’s too late to secure your profits. Be strategic. Be quick. This could be your last chance to exit before the crash.
#CryptoStrategy #MemeCoinTrends #SecureYourProfits #HMSTR #Write2Earn!