More than $44B lost to scams, rug pulls, and hacks in the past two years. You could be the next to get scammed. Here's the ultimate guide to protect your money in crypto 🧵⬇️
1️⃣ Crypto Losses and Awareness
- $2B lost to scams and hacks in 2023.
- Significant reduction from the $40B lost from Terraform Labs, Celsius, and FTX collapses.
- Better security, increased awareness, and decreased market activity have helped.
2️⃣ Digital Hygiene
- Avoid unsecured networks and never connect to public Wi-Fi.
- Think carefully about your actions online. Don't rush or click on unofficial links.
- Always double-check everything.
3️⃣ Strong Password Practices
- Avoid obvious passwords: Don’t use your name or birth year.
- Use complex passwords and consider double encryption, like the Caesar cipher.
- Change your password every 1 to 3 months.
4️⃣ Avoid Suspicious Downloads
- Pirated software, games, and movies often carry malware.
- Use a separate device for downloading suspicious apps, avoiding important info storage on it.
5️⃣ Resetting Your PC
- If you download something harmful, fully reset your OS through settings.
- Delete everything and start with a clean slate.
6️⃣ Protecting Your Recovery Phrase
- Never store your recovery phrase digitally.
- Write it down on multiple pieces of paper and store them securely.
- Use cold wallets like Trezor or Ledger for large amounts of assets.
7️⃣ Avoiding Fake Sites
- Always check the legitimacy of the site you visit before connecting your wallet.
- If you accidentally connect, don’t approve transactions until you verify the site’s popularity and safety.
8️⃣ Use 2FA Authentication
- Enable 2FA on all platforms using trusted tools like Google Authenticator.
- 2FA adds an extra layer of security to protect your accounts.
9️⃣ Utilize a Password Manager
- Password managers help organize your passwords securely.
- For super important passwords, memorize them for the highest security.
