Phishing Scams Haunting Cryptocurrency Industry

Posted On : 08 Jun 2020
Category : Blog, Exchange
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Phishing scams have inhabited several big industries, and even the crypto industry is not spared from its grip. Being wary of the scams in the industry can be the only solution in order to save you from jeopardizing this booming cryptocurrency domain. Transactions in some of the best crypto exchange platforms involve risks at all times and it doesn’t longer time to recognize them. Moreover, phishing scams are everywhere be it any online activity or the crypto trade industry. Only by being aware of the possibilities can help in avoiding any phishing scam.

According to the advisors of HoTBTC crypto trading platform, if the cryptocurrency exchanges are based on the blockchain technology, it can help avoid the phishing scams, as the transactions are always being tracked with a detailed and real-time transaction history. The demands of cryptocurrencies are skyrocketing as several new cryptocurrencies are mushrooming in the industry making it a vulnerable victim to be affected by scams easily. Here are some of the most common and real-world facts to keep a tab on to avoid becoming a victim of any phishing scams –

•       Phishing emails

These types of emails are ones that resemble an email exactly sent by any legitimate cryptocurrency service provider with the same logo or branding, but deep inside they are scamming emails. It is important that you identify the legitimacy of the mails and check if it has real people with real objectives working in the background. The scamming emails are always doubted for its reality and if you have any doubts about the emails then never click on the links provided in the emails.

•       Fake cryptocurrency exchanges

These are the breeding ground of phishing scams and are a real threat. The fake cryptocurrency exchanges or a secure crypto trading platform may look legitimate and even present itself as a part of the crypto trading community with millions of traders working as buyers and sellers of the cryptocurrencies.

•       Imposter cryptocurrency exchange websites

Similar to the fake exchanges these are basically fake websites
resembling a lot of expertise in terms of crypto trades. An interesting fact about these websites is that they are sprawling in huge numbers have been set up to copy any valid crypto trading website. But they can be recognized easily as they do not bear a “lock icon” near the website address or the URL and no https as well. In order to avoid such events, it would be best to carefully type the exact URL in the browser you are using.

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