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Binance Academy
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Introduction to Multi-Signature Scams and Prevention Strategies
Key Points
Multi-signature wallets require multiple private keys to sign and authorize transactions, providing users and businesses with additional security.
There are many types of scams related to multi-signature wallets, with the scams on the Tron network being the most common.
In a common multi-signature scam, the scammer grants the user partial access to their wallet and tricks the user into transferring funds to pay so-called transaction fees.
To prevent multi-signature scams, users should keep personal information strictly confidential, avoid using strangers' mnemonic phrases or private keys, and be wary of fraudulent apps, emails, and websites.
Multi-signature wallets require multiple private keys to sign and authorize transactions, providing users and businesses with additional security.
There are many types of scams related to multi-signature wallets, with the scams on the Tron network being the most common.
In a common multi-signature scam, the scammer grants the user partial access to their wallet and tricks the user into transferring funds to pay so-called transaction fees.
To prevent multi-signature scams, users should keep personal information strictly confidential, avoid using strangers' mnemonic phrases or private keys, and be wary of fraudulent apps, emails, and websites.
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