It has been recorded that 2017, has seen the highest records of people getting into the cryptocurrency space as more developments worldwide started taking place.
With the recent influx of more investors, it opens up more avenue for criminals who find opportunity to prey on ill-informed investors.
As the market is also highly driven by speculation, more people are entering into it, not understanding fully how to ensure their safety, thus leaving loopholes in their accounts that can allow scammers access to their accounts.
Richard de Sousa, partner at Altcointrader, which is one of South Africa’s oldest cryptocurrency exchanges says, “Safety should be an individual’s primary concern, as it is your hard earned money, it is important that you take security measures and secure your accounts and also be on alert for any phishing attacks.”
There has been a record across all exchanges in recent months of alerts to clients on phishing attacks. Investors need to take precautionary measures to ensure that their accounts are, secured firstly and also to avoid falling trap to phishing attacks or scam programs.
De Sousa says, “The recent cases we have seen is that people are getting involved with scam programs which are offering them higher monthly returns, which asks them to deposit cash into the scammers exchange account, giving them their own reference number. The scammer then converts their cash quickly to cryptocurrency then sends out of exchange to a different address. Please be aware that in such a case, the exchange cannot be held liable. Do not deposit money into anyone else’s exchange account, as when you do a deposit with their reference number, it credits their account and they can do anything they want as it is in their hands.”
We provide the following safety tips to ensure your are safe:
Ensure that you enable two-factor authentication on personal accounts
Ensure that you have a strong password.
Do not respond to any e-mail from exchange that asks for your login details, such as username and password.
Do not give out your e-mail address and password if anyone requests it from you.
Do not give your login details to anyone over the phone that might call you and claim that they are from an exchange.
Do not give anyone access to your accounts by providing them with log in details, whether it is friends or family.
Do not deposit money into an cryptocurrency exchange account, that has someone else’s reference number. If you want to buy bitcoin or other cryptocurrency yourself, open an account yourself with an exchange and buy it directly.
CLICK HERE to submit your press release to MyPR.co.za.
Submit and get free press releases here: MyPR Free Press Release.
Click here to list your business on BuyPE.