May 26, 2022

Just because cryptocurrency is a relatively new type of investment doesn’t mean it’s not susceptible to old-school scams. A large number of crypto holders lose their currency through age-old phishing tactics.

A phishing scam is a request for your personal identifying information through a link or website that looks like it came from a legitimate source. For example, if you hold your crypto assets at Robinhood, you might get an email from what looks like customer service at Robinhood asking for your login information due to a recent security breach or some other type of urgent matter. Since these requests can look entirely legitimate, it can be easy to click on a link or respond to these types of requests with information like your username, password or even Social Security number. 

If you’re ever confronted with this type of request, never click on a link you receive in an email unless you’re absolutely, 100% sure that it’s coming from a legitimate source. Never provide banking information or your Social Security number via an email either. The best way to avoid these types of attacks is always to call your financial institution directly to verify any requests they may be making.

Find: Crypto Scammers Are Using Robocalls to Steal Funds, Wipe Out Accounts

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