There have been a number of “crypto thefts” in London recently, with thieves threatening crypto holders violently unless they transfer digital currency held in mobile wallets or on crypto exchanges.
As details by The Guardian UK, a crime report from the City of London police details how thousands of dollars it is worth crypto has been stolen by thugs in person. One of the victims said the phone was removed while they were drinking and they knew that more than $ 12,000 of Ethereum (ETH) had been withdrawn from their Crypto.com account. The victim believes the thief witnessed him enter the account pin.
Another victim was approached by a group offering to sell cocaine and after moving to another location to buy the drug, the man was held on a wall while the gang accessed his phone and crypto account using face verification, transferring Ripple more than $ 7,000 (XRP) into his own wallet.
This is a variation that I am common to what is called “$ 5 key attack”.
As blockchain transactions are irreversible and generally how cryptocurrency storage provides responsibility for asset security with the individual who owns it, Cointelegraph spoke with blockchain security company BlockSec who shared the following tips on how to protect crypto from theft:
“Don’t deposit a lot of crypto in your wallet or exchange application. Just leave a small portion there. You can have a multi-sig wallet and with the said policy only two signers can transfer money in the wallet. By doing so, only some crypto will be lost during the day.” mugging.
BlockSec also suggests ways to trick thieves if crypto users are robbed, saying some smartphones may have different logins that can hide certain applications such as Huawei’s “PrivateSpace” feature:
“The application in ‘PrivateSpace’ is different from the main application used. So, if a user is robbed, they can log in to ‘PrivateSpace’ indicating that they do not have a crypto application installed on the phone, or vice versa, they can hide the crypto application in this space .
Samsung phones have the same features called a “secure folder” that can be used to hide all your crypto applications behind a PIN or password and these folders can also be hidden from the home screen.
On Apple iPhones the app works moved to one page on the home screen and hidden together, and there is another choice such as removing individual apps from being displayed on the home screen can only be accessed through search.
Cointelegraph also spoke with a pseudonym Twitter user and an independent security researcher known as the popular “CIA Officer” to create and share guidelines and tips on how crypto users can harden asset security.
You’ve been asking me for a long time and I finally decided to write the ultimate thread about advanced (and authorial) cryptocurrency storage technology
Watch carefully, there will only be spy level travelers
– CIA Officer (@CIA Officer) 25 April 2022
CIA officers show an article they wrote in April featuring 13 tips on the principles of save cryptocurrenciessays:
“I wrote this article because my sense of fairness just pushed me forward because maybe the biggest threat to crypto is crypto fraud because people just get disappointed and leave forever.”
In the article, the CIA Officer reminds that a mobile wallet like MetaMask is just an interface and recommends storing everything. crypto in a cold wallet such as Ledger or Trezor as opposed to keeping it on an exchange or in a mobile wallet.
related: Warning: Smartphone text prediction guess crypto hodler ore phrase
The physical storage device will store all crypto offline and assets can only be moved if people have access to the wallet along with knowing the PIN and in some cases the password. One might be made using an old smartphone instead of using a special device.
Crypto stored in cold wallets can be more hardened security and CIA Officers voiced advice from BlockSec to set up th e multi-signature wallets using two or even three separate devices to approve transactions.
CIA officers also showed up rules for crypto OpSec, which stands for “operational security” of risk management processes with the aim of preventing the leakage of sensitive information.
“You have to build your own OpSec stone wall, so you’ll know what to do if something happens.”
In light of the muggings, such OpSec measures are included keep all crypto investments a total secret. Potential thieves in a public setting can hear discussions or even witness someone’s crypto ownership, as in the case above when the victim was robbed.
“Being suspicious is certainly good,” the CIA Officer wrote, “you might be trying to be hacked through an acquaintance, either someone pretending to be an acquaintance or an acquaintance of your own.”
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