Survival Rules in the Crypto Universe

Mastering Crypto: Essential Rules for Survival

1. Don't Trust, Verify

2. Stay Vigilant, Even with Official Accounts

In this domain where significant sums of money are at stake, it's common for official accounts (Discord, Twitter, etc.) to be hacked, as they are prime targets. The most common account hacks can be easily avoided with security measures such as two-factor authentication (2FA). However, this may not be sufficient. Hackers may exploit other vulnerabilities, either in the code or via advanced social engineering techniques, to hack a project's, media's, or even a site's account.

3. Be Wary of Private Messages

Whether on Twitter, Discord, or Telegram, you've likely received numerous scam attempts via private messages. Most impersonate an official account you're affiliated with and urge you to click on a link for an airdrop or gift. Another common scam occurs when seeking help in a project's Telegram or Discord group. You might receive a private message from someone claiming to be a moderator (or a team member) wanting to help you, who will eventually ask you to connect to a site to better understand the problem.

4. Google and Twitter Ads

This technique is particularly deceitful as ads impersonate official accounts. For instance, when you Google search a project or platform, Google ads allow any site to appear first. On Twitter as well, certain ads promote scams. I would say almost all crypto ads on Twitter are scams.

5. Securing Your Accounts

- Use a Ledger :

Though it protects your private key with a code, if you make a transaction on a fraudulent site with your Ledger, your wallet will still be emptied as you've granted access.

- Activate 2FA Everywhere :

 Avoid SMS 2FA, as hackers can intercept SMS containing the secret code. An app like "Google Authenticator" is safer.

- Have a Disposable Wallet:

 Create a wallet specifically for new mints and interactions with contracts. When you receive your NFTs or tokens, send them to a secure wallet that never connects to anything.

- Be Wary of Downloads:

 Ensure the reliability of sources before downloading anything, as you could install spyware capable of monitoring all your computer activity or even taking control remotely.

6. What to Do as a Last Resort if You've Clicked on a Fraudulent Link

If you've initiated a transaction on a fraudulent site and realize it, there's a last-ditch solution to avoid the worst, if it hasn't already happened. Visit the Revoke.cash site to revoke the permission you've granted.

Unique FAQs

Q: Are all crypto ads on Twitter scams?

A: Almost all crypto ads on Twitter should be approached with skepticism as they often lead to scams.

Q: What's the safest form of two-factor authentication?

A: Using an authenticator app like "Google Authenticator" is generally safer than SMS-based 2FA.

Q: How can I identify if an account has been hacked?

A: Look for any unusual activity, such as sudden changes in messaging or links shared, and verify with trusted sources.

Q: What steps should I take if I suspect a scam?

A: Immediately cease any interaction, report the account or ad, and warn others in relevant communities.

Q: Is there any guaranteed way to avoid scams?