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Trump Media & Technology
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Rigetti Computing
-- 6.0500 
How to Protect Yourself From Web3 Hacks: Part 2 – Best Practices for Security
In the first part of this series, I shared my unfortunate experience with a Web3 vulnerability that resulted in hackers accessing my device and draining all my funds on Bybit. This type of attack is becoming more common in the Web3 space as hackers become increasingly sophisticated. In this follow-up, I’ll discuss some of the major methods hackers use to steal your information and funds, and provide what I believe to be the best approach to safeguard yourself moving forward.
Common Methods Hackers Use in Web3
As we continue to integrate decentralized technologies like Web3 into our lives, we must be vigilant in understanding the tactics hackers use to exploit our security. Here are the most common methods:
◦ Tip: Always verify the sender's address and avoid clicking on links in unsolicited emails. Use bookmarked links to access sensitive accounts instead of following email prompts.
1. Email Phishing
Hackers often use phishing emails to trick you into revealing your sensitive information, such as login credentials or private keys. These emails may appear to come from legitimate sources, such as exchanges or wallet providers, but they contain malicious links that lead to fake websites designed to steal your information.
Hackers often use phishing emails to trick you into revealing your sensitive information, such as login credentials or private keys. These emails may appear to come from legitimate sources, such as exchanges or wallet providers, but they contain malicious links that lead to fake websites designed to steal your information.
◦ Tip: Keep your system updated with the latest security patches and only download software from trusted sources. Regularly scan your devices with reputable antivirus software.
2. Trojans and Malware
Trojans are malicious software that can be installed on your device without your knowledge. Once a Trojan has access to your system, hackers can monitor your keystrokes, capture passwords, and even take over your accounts. Often, Trojans are hidden in seemingly harmless downloads or links.
Trojans are malicious software that can be installed on your device without your knowledge. Once a Trojan has access to your system, hackers can monitor your keystrokes, capture passwords, and even take over your accounts. Often, Trojans are hidden in seemingly harmless downloads or links.
◦ Tip: Be skeptical of unsolicited messages, even from people you know, and always verify before giving out sensitive information.
3. Social Engineering
Hackers are increasingly turning to social engineering, where they manipulate people into divulging confidential information. They might impersonate someone you trust or create a sense of urgency to make you act quickly, bypassing your usual security checks. This type of attack is often seen in phishing messages, fake customer support interactions, or through direct messaging on platforms like Telegram or Discord.
Hackers are increasingly turning to social engineering, where they manipulate people into divulging confidential information. They might impersonate someone you trust or create a sense of urgency to make you act quickly, bypassing your usual security checks. This type of attack is often seen in phishing messages, fake customer support interactions, or through direct messaging on platforms like Telegram or Discord.
◦ Tip: Be cautious of anyone asking for your private keys, recovery phrases, or login details. Legitimate services will never ask for this information in direct messages.
4. Telegram and Discord Hacks
Telegram and Discord are popular platforms in the Web3 community, but they are also favorite targets for hackers. Attackers may infiltrate private groups, posing as legitimate admins or support staff to steal private keys or login information. Alternatively, they may send phishing links directly to users.
Telegram and Discord are popular platforms in the Web3 community, but they are also favorite targets for hackers. Attackers may infiltrate private groups, posing as legitimate admins or support staff to steal private keys or login information. Alternatively, they may send phishing links directly to users.
◦ Tip: Verify the identities of individuals offering deals or support through official channels and avoid sending funds to unknown or unofficial sources.
5. Scammers Posing as Influencers or Support Staff
Scammers often pose as influencers, project founders, or customer support representatives to lure you into trusting them. They might promise giveaways, technical help, or exclusive investment opportunities that require you to send funds or share private information.
Scammers often pose as influencers, project founders, or customer support representatives to lure you into trusting them. They might promise giveaways, technical help, or exclusive investment opportunities that require you to send funds or share private information.
The Ultimate Protection: A Dedicated Device for Crypto and Online Banking
While being aware of these threats is crucial, the most effective protection comes from how you manage your devices. From my personal experience, I’ve concluded that the best defense against hackers and phishing schemes is to have a separate device or smartphone dedicated exclusively to your financial activities. Here's why this method works and how to set it up.
Why a Dedicated Device is the Safest Option
Having a device that’s solely for your crypto wallets, online banking, and e-wallets greatly reduces the risk of security breaches. By isolating these activities, you minimize exposure to everyday threats, such as malicious apps, accidental clicks on phishing links, and social engineering attacks. Here’s how to maximize the effectiveness of this setup:
1. No Email or Social Apps on the Device
Avoid installing email apps, social media, or messaging platforms (Telegram, Discord, etc.) on your dedicated device. These are common entry points for hackers. The fewer ways someone can contact or influence you, the fewer ways they can trick you.
Avoid installing email apps, social media, or messaging platforms (Telegram, Discord, etc.) on your dedicated device. These are common entry points for hackers. The fewer ways someone can contact or influence you, the fewer ways they can trick you.
2. Only Use for Financial Activities
Use the device strictly for financial transactions – online banking, crypto exchanges, and wallets. This minimizes the chances of downloading anything malicious or being exposed to phishing attacks.
Use the device strictly for financial transactions – online banking, crypto exchanges, and wallets. This minimizes the chances of downloading anything malicious or being exposed to phishing attacks.
3. Enable 2FA on All Accounts
Every account related to your finances (crypto wallets, exchanges, banking apps) should have Two-Factor Authentication (2FA) enabled. Use an authenticator app rather than SMS-based 2FA, as SIM swapping is a common method hackers use to bypass SMS-based authentication.
Every account related to your finances (crypto wallets, exchanges, banking apps) should have Two-Factor Authentication (2FA) enabled. Use an authenticator app rather than SMS-based 2FA, as SIM swapping is a common method hackers use to bypass SMS-based authentication.
4. Turn Off Bluetooth and Unnecessary Features
When you’re not using them, keep features like Bluetooth and NFC turned off. These can be exploited by hackers to gain unauthorized access to your device.
When you’re not using them, keep features like Bluetooth and NFC turned off. These can be exploited by hackers to gain unauthorized access to your device.
5. Keep the Device Offline When Not in Use
Whenever possible, keep your dedicated device offline when not making transactions. Even if someone gains access to your wallet, they won’t be able to transfer funds without connectivity.
Whenever possible, keep your dedicated device offline when not making transactions. Even if someone gains access to your wallet, they won’t be able to transfer funds without connectivity.
Conclusion
Protecting yourself in the Web3 world requires more than just awareness of common threats – it demands action and a proactive approach to safeguarding your assets. By utilizing a dedicated device for your financial transactions, you can create a secure environment that minimizes your risk of falling victim to phishing, Trojans, or social engineering. In addition, always stay vigilant, keep your software updated, and enable strong authentication methods to further bolster your security.
Taking these steps not only protects your crypto but also brings peace of mind in an increasingly dangerous online world.
Stay safe out there, and may your journey through Web3 be a secure one!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Full-time trader for Crypto and Derivatives products. Moving from manual to Algo trading in 2024.
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EZ_money : you forgot one... frequent password change and password complexity. don't use the same password for everything.
EZ_money : sound advice
mjbond OP EZ_money : yup. you seem like having many account![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
mjbond OP EZ_money : trading and earning money is easy . getting rug pull or burn by buying wrong stocks is a known risk for us as trader. but getting scam and hack , lose all our money is something that we didn't really pay attention too until is too late. our phone and PC are our wallet , our working devices and most likely get compromised by malicious software. so take care and stay safe
EZ_money mjbond OP : yeah it's almost like the old west on the Internet.