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What to Know About Cryptocurrency Scammers

Posted on May 17th, 2018 by EM Search Consulting

Unfortunately, there is an inherent risk every time money, including in the world of cryptocurrencies, leaves your account. As cryptocurrencies are not protected by the Federal Deposit Insurance Corporation (FDIC) and there are tons of people investing money, it’s a tempting market to hack. If you’ve invested money into a cryptocurrency in Pittsburgh, or you are planning to do so in the near future, here’s what you should know.

Infrastructure Attack

When hackers attack the infrastructure of cryptocurrencies such as digital wallets, mining services or web host services, they’re able to steal cryptocurrencies. Criminals may also target investors directly via online scams of “social engineering” tactics. They may also use phone-porting tactics, malware and fake wallets, which is why we recommend downloading our save and protected RockItCoin digital wallets in Pittsburgh and other areas of the United States.

Lower Your Risk

Falling for scams can be avoided if you take the time to properly educate yourself. If there’s a new coin offering, there may be a fraud around it as it is likely unregulated. Don’t fall for “pre-sale” or other social media promotional items. Bitcoin-stealing malware is another thing of which you should be aware. To combat this, protect your login credentials with two-factor authentication as well as a password manager.

Although the world of cryptocurrencies has inherent risk, the benefits outweigh the rewards. If you have questions about how to safely navigate your next cryptocurrency purchase, contact us today!

Source: Entrepreneur