15 Jul 2020 Morgan Hayze
Protecting Cryptocurrencies From Theft And Crypto Holders From Security Threats
Cryptocurrencies are protected from counterfeiting by features laid out in their blockchain. Cryptography supports a transactional database that is impossible to be faked or modified retroactively. The weak point is the anonymity of users, due to the openness of the system. Security systems of crypto exchanges force users to undergo a complete identity verification, which as a result of hacker attacks results in leakages of confidential data.
Cryptocurrency Theft Methods
To protect yourself from the actions of criminals, first, you need to know how they can get access to your digital assets. Attackers constantly come up with different ways of stealing cryptocurrency, so you should keep in mind that the tactics and methods for thefts evolve all times. For instance, there are:
- Fake wallets with a built-in special code that allows you to control someone else's crypt. By setting up such a wallet, scammers gain access to your crypto assets and transfer them to their address.
- Fake exchange sites replicating the original websites. This is how thieves get your login details, such as username and password. This will not work if you use two-factor authentication.
- Regular fraud, as in common cases with ordinary fiat money. They can promise to buy or sell crypto at a bargain rate, which should immediately alert you. The expectation of profit can blindfold you because in most cases scammers use as a leverage users` greed. You can also be forced to believe that you are talking with your friend or a famous person, for example, pretending to be Elon Musk.
- Fake exchange points that can cause you to lose your Bitcoins. Before using an exchange that is unknown to you, read user reviews.
- Even YouTube users risk their cryptocurrency, as there is a way to spread malware through video clips in order to steal cryptocurrency. Hackers gain access to your clipboard, files, webcam, and more.
- Attackers can make a copy of the SIM card and thus gain access to the mobile number to hack accounts and authenticate through the phone.
- Locking computer drives to demand ransom for unlocking. This type of fraud has been widespread for a long time and now cryptocurrencies provide a convenient way to transfer money to criminals without exposing who they are.
- Sites and services that promise huge profits. This method can be used even by a teenager, as it was in the US when a 15-year-old criminal stole $ 1 million in cryptocurrency.
Abductions and extortions, the victims of which are crypto enthusiasts and entrepreneurs. A crypto holder can be abducted, tortured for ransom, or access to their cryptocurrency wallets.
To protect your personal data, finances and to eliminate the risks associated with leakages of such information, you should use a crypto mixer that provides anonymity, and therefore personal safety. For example, one of the fastest, most convenient, and reliable crypto mixer is BitMix.Biz, which is very easy to use.
Using BitMix.Biz for Anonymity and Security
The Bitcoin mixer divides each transaction into a larger number of smaller ones and then runs the divided coins through many anonymous wallets. Thus, fast transaction tracking becomes impossible due to a large amount of input data for blockchain analysis. Processing sо many transactions will take too much time, which the attackers will not have, as information about transactions is deleted after a maximum of 72 hours in automatic mode or instantly delete in manual mode. Data about the performed operations is stored in encrypted form on BitMix.Biz.
To use BitMix.Biz , you must send from 0.005 to 1000 BTC or from 0.015 LTC to the mixer for cleaning. To mix cryptocurrencies in the amount range of 0.1 BTC or 1 LTC, you can use the maximum level of randomization, offering two or more incoming transactions to the final secure address. With this mixing method, tracking randomized transactions is often more difficult.
A very important property of the Bitcoin mixer BitMix.Biz is the speed of cleaning coins. You receive ready-made anonymous crypto coins after one confirmation of the output transaction since the large pools contain prepared digital funds that have already been cleared. They are always in reserve and ready to be sent to your destination address at any time. There is no need to wait for confirmation of all exchange transactions that occur when mixing coins.
To increase the anonymity there is a variable commission, which you can choose between 0.4 and 4% of the cleared funds. This will allow confusion with the amount of the fee and will prevent transaction tracers from calculating your transaction in order to understand who owns the Bitcoin address.
By ensuring the security of yourself and your funds, BitMix.Biz also helps you earn extra through a referral program. You will receive payments for new customers while expanding the anonymity of Bitcoin, Litecoin, and Dash.
You can be sure that you are sending your coins to the correct address because all the Bitcoin addresses that the BitMix mixer generates for sending coins for cleaning are signed with the verification key 1BitmixQRMUHYYEi11KBRhSfACa1BtcZrZ. Many wallets have a Verification function, with which you enter a key, and you are given the result of a match or a mismatch. Use such an address only if matches the key.Bitcoin Cryptocurrency Crypto Market Exchanges News Crypto wallet btc wallet crypto market monitoring bitcoins exchange cryptography scam digital asset digital Security Hacks