Scams In The Cryptoworld.. What You Should Know #005

Source

Hello crypto friends,

I believe you are all doing perfectly fine and are enjoying your activities in the community.

With a heart filled with joy, I humbly come before you all today to discuss on an issue of great importance in the cryptospace.

We have been discussing about cryptocurrency scams but we are yet to unveil all available scams in the ecosystem, and I believe no one wants to fall victim to these scams.

That being the case, I shall discuss on some type of scams being used by scammers, please follow along:

• MALWARE INFECTED WALLETS:

A malware infected wallet can be explained to be a digital wallet which is being used to store cryptocurrency but has its keys compromised by a malicious software.

This type of wallet is created in a way that the scammer gains an unauthorized access to the wallet of a user and then steal the user's funds and do other types of malicious activities with a user's account.

A wallet can be infected with malware through phishing links. Phishing links are malware links that are usually send to a user and then they are required to input some sensitive details all with the aim of getting fake rewards.

Sometimes these phishing links require users to download malicious application which will inturn compromise the keys of a wallet.

There are important ways to keep ones wallet free from malware and one of them is by making use of anti-virus.

By making use of anti-virus, you tend to protect your wallet from phishing links/malware application. The anti-virus helps to detect any available malware application and removes it immediately.

Another way to keep your wallet safe is by downloading things only from trusted sources, downloading from trusted sources helps you to download only legit applications.

• CRYPTO JACKING:

Crypto jacking can be explained to be a type of cyber attack in which scammers gain an unauthorized accessed to a user's computer system, and then mine a cryptocurrency without the user's permission.

The mining of cryptocurrency involves the act of using computational power to verify transaction and add new blocks in the blockchain.

With crypto jacking, a scammer infects a user network with malware, and this is usually done through malicious download, phishing emails, and also taking advantage of the vulnerability in software.

And once the malware has been installed, it operates in the users background without the permission of the user, then it begin to do malicious things to a user's network.

There are several negative impact crypto jacking has on a computer network, it has the ability to slow down a computer network, it also causes increased electricity bills for a users by consuming so much energy.

To avoid this kind of attack, a user has to be very careful on what type of links he clicks, as this can expose one's system to the attack.

---

---

CONCLUSION

---

---

We have discussed on two Important and dangerous forms of attack to one's system.

It is very important to know the forms in which attack comes so as for us to avoid them easily.

I shall stop here today and we shall continue I later, have a splendid day ❤️.