Crypto Academy Week 5 Homework Post for [@gbenga

A wallet in the crypto world does not mean wallet used to keep physical cash or identification documents by individuals. It is rather an application whereby assets (crypto currencies) are stored on the blockchain.

Securing your wallet on blockchain is essential as any mistake could or can result to lost of assets. Once you tamper with your keys, the rest is history as the account cannot be recovered.

Notwithstanding, one of the security problem posed by cryptocurrency is attacks on the wallet software. This is a situation whereby a malicious link is being used to trick someone of an awarded asset. Once you click on the link, it indicates that you should input your private key in order to claim the asset. Immediately this is done, the jackers claimed all your assets and the owner loses all.

My personal experience on such cryptocurrency security problem is on steemit. This guy comment on a post claiming he got 400STEEM by clicking a link which has limited time.

Screenshot on Steemit

I once read about attacks on wallets, so I was a bit informed about phished links. I am equally someone who loves to explore while learning. I click the link and it required I input my details and equally provide my master key. I decided to input fake details. What was funny is that I input a master key of not up to 5 characters and a message pop up that ‘thanks, your request is submitted’.

Lesson Leraned
-Do not trust links which require you to input your private key.
-Put it on your forehead that your private key remains your private and personal key not to be shared to third parties.

CC: @gbenga