- Throughout 2022 there have been 125 hacks, which is almost one every two days, while in Latin America there have been frauds of more than $100 million dollars and they have left more than 200 thousand victims.
The more cryptocurrencies gain popularity and followers, the more notable is the presence of malicious people who, taking advantage of the ignorance of some, seek to get hold of their digital assets.
By far, last October was the worst of crypto history in terms of cryptocurrency thefts since, according to a Chainalysis report, during the first days of the month, more than $3,000 million dollars have already been lost in hacks, which represents an increase of 42.9% compared to all of 2021.
In the first 14 days alone, there were 11 hacks that took $718 million and Throughout 2022, there have been 125 hacks, which is almost one every two days, while in Latin America there have been frauds of more than $100 million dollars and more than 200,000 victims.
But, with these constant attacks, how can we protect ourselves? Addressing this need, the LABITCONF, The oldest conference on Bitcoin and Blockchain in the world and the most important in Latin America, published a guide on how to protect ourselves.
Review white paper and company information
Remember that being well informed is the best way to identify scams and make the right decisions, so before making any investment, you should obtain as much information as possible about the project in question. How does it work? What is the company or organization that supports it? How is it projected for the future? These are some of the questions that crypto investors ask before deciding to bet their capital on a project.
Butwhere can we get this information? This information should be found in the White Paper of the organization with which you are interacting, and we can usually find them on their website
Take your time and analyze before making decisions
Scammers often pressure their victims by offering limited-time bonuses or discounts if invested immediately. Many times the victims, in a hurry not to let go of these “unique” opportunities, bet their money without knowing the projects in depth.
This brings us to the previous point, before investing in a project, investigate everything about it in depth. In crypto, the acronym DYOR (do your own research) is frequently used, which in Spanish means, do your own research.
Do not trust multilevel proposals
One of the main forms of scams are multilevel platforms or ponzi schemes. This scheme offers to have a guaranteed income and where if more people are brought, this generates an additional income for the investor. The recruiters show off their supposed earnings to their victims to try to convince them, but do not be fooled, no matter how well your recommender has done, the vast majority of these are scams and although at some point I won, just like In a game of Jenga, the tower will fall leaving you with nothing.
Protect your private keys
One of the methods most used by hackers to steal crypto assets is through phishing and thus get hold of virtual wallet keys. To keep this information safe, avoid saving it in places that may be vulnerable, for example in the cloud. In the same way, you should avoid sharing it on unofficial pages or illegitimate companies, exchange applications and wallets do not request this information.
There are as many tips to protect ourselves from scams, as there are means used by scammers to steal from their victims, so our best recommendation is to stay informed, either through means such as Bitcoin Mexico or at events, such as the cycle of conferences LABITCONF, which will take place from November 10 to 13 at the Costa Salguero Center, in the City of Buenos Aires.
During the LABITCONF, experts will give us recommendations on the best projects to invest in and also how to move safely in the crypto ecosystem with presentations such as:
- How to safely use Metamask and link it with DEFIs
- Most common mistakes that put your crypto at risk and how to avoid being scammed
- What to take into account before investing in a new currency? among others.
If you want to know the complete agenda of this event, click here. LABITCONF, is an event that you cannot miss.
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