Wallet Security: Unveiling Encryption Scam Techniques and Preventive Measures

The security of encryption assets has always been one of the most concerning issues for users. Although most people are very cautious, there are still many who inadvertently fall into scam traps. To help users better protect their digital assets, we recently had an in-depth conversation with a former encryption scammer to understand their methods and techniques. This article will share the main content of this dialogue, hoping to provide some valuable safety advice.

Target and Means of Fraud

Anyone can potentially be a victim of fraud, but inexperienced users are more likely to fall for it. Fraudsters often use social engineering techniques to gain trust and induce victims to download malware or disclose private information. The former fraudster we interviewed claims to be a programmer and sells victims so-called "magical" programs that can make money quickly.

Fraudulent Earnings

The profits from scams vary depending on individual skills and methods. It is understood that even scammers with only six months of experience can easily earn $5,000 to $10,000 per month.

Data Breach Scope

Although scams mainly target encryption assets, they may also involve other illegal activities such as extortion and personal information theft. Once a user's computer is infected with malware, all data may be stolen and circulated on the dark web, posing greater security risks for the user.

Taking the MetaMask Wallet as an example, if a user installs malicious software, the scammer can access all of the user's computer data and attempt to crack the wallet password. Therefore, setting a complex password (at least 15-20 characters) is very important, as it can greatly increase the difficulty of cracking.

Money Laundering Techniques

Stolen encryption assets usually require a series of complex steps to be liquidated. One common method is:

1. Transfer funds to the BSC network
2. Exchange the tokens for XRP
3. Using false KYC information to transfer funds to centralized exchanges
4. Withdraw tokens from another exchange
5. Finally, convert the tokens into US dollars cash.

Prevention Suggestions

To avoid becoming a victim of scams, users can take the following measures:

• Install and update reliable antivirus software promptly.
• Avoid saving passwords in the browser
• Restrict download permissions from the internet
• Use strong passwords for wallets like MetaMask and important websites.
• Do not take screenshots or photos to save the mnemonic phrase/password.

In addition, users should also understand how to properly handle data and devices after experiencing an attack, including changing various account passwords, resetting two-factor authentication, reinstalling the operating system, etc.

Conclusion

In the world of encryption, asset security is crucial. While it is important to understand the tactics of scammers, it is even more critical to remain vigilant at all times and develop good security habits. I hope this article can provide some useful references to help everyone better protect their digital assets.