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Encryption scam insider exposed: Scammer confesses revealing methods of operation and prevention tips
The Inside Story of Encryption Fraud: A Fraudster's Confession and Prevention Advice
A researcher in the encryption field recently interviewed a person involved in cryptocurrency asset fraud, revealing the methods used by scammers and summarizing some practical self-protection measures. The following are the main points from this interview:
Who are the potential victims?
Anyone can become a target of scams, but inexperienced users are more easily deceived. Scammers often use social engineering techniques to gain the trust of their victims. Common methods include inducing downloads of software or requesting sensitive information such as passwords or mnemonic phrases.
How much is the profit from fraud?
Profits depend on the skills and methods of the scammer. Even a scammer with only six months of experience can easily make 5000-10000 USD per month.
What data do scammers steal?
In addition to directly stealing encryption assets, scammers may also engage in illegal activities such as extortion and stealing personal information. Stolen data may circulate on the internet and be exploited by other criminals.
For example, if a user installs malware, scammers may gain access to all computer data and attack wallets with password cracking programs. Setting a complex password of more than 15-20 characters can effectively prevent this.
How to launder money?
The interviewees revealed a method for converting scam proceeds into US dollars:
Precautionary Recommendations
In addition, attention should also be paid to social media security guidelines to understand how to deal with devices that have been implanted with malware, change account passwords, set up two-factor authentication, reinstall the operating system, and so on.
To protect your encryption assets, you not only need to know how to make money but also learn how to safeguard your wealth.