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While Bitcoin is gaining increasing popularity, hackers and scammers have also set their sights on this "lucrative target". From exchange hacks to fake wallet scams, investors can easily lose all their money if they are not careful. Today, we will take stock of the most common Bitcoin security risks and teach you how to avoid these pitfalls!

Hacker attacks: Your Bitcoin could disappear overnight

1. Exchange hacks (the most dangerous!)

• In 2022, the FTX exchange collapsed, leaving users unable to withdraw billions of dollars.
• In 2014, 850,000 Bitcoins were stolen from Mt. Gox (valued at $450 million at the time).

• Choose compliant exchanges such as Coinbase and Binance that hold licenses.
• Don't keep all your coins on the exchange; withdraw them to your own wallet (cold wallets are the safest).

2. Theft of wallet private keys

• Malware records your keyboard inputs (such as fake wallet apps).
• Phishing websites trick you into entering mnemonics (such as counterfeit MetaMask official websites).

• Write down mnemonics by hand and never take screenshots or store them in the cloud.

3. Smart contract vulnerabilities (high risks in DeFi)

• Case: Axie Infinity was hacked for $625 million in 2022.

• Don't be greedy for high returns; carefully participate in unfamiliar DeFi projects.
• Use a "small account wallet" for testing and don't put a large amount of funds in it.

Scam tactics: Scammers understand human nature better than you do.

1. Fake exchanges/fake apps

Tactics: Imitate well-known exchanges (such as fake "Binance International Edition" websites), making it impossible for you to withdraw funds after recharging.

Always check the domain name of the official website (e.g., Binance.com, not Binance.cc).

Download apps from the Apple/Android app stores, and never click on unfamiliar links.

2. Impersonating "customer service" or "celebrities"

Tactics:

• Pretending to be exchange customer service, claiming your account is abnormal and asking for verification codes.

• Impersonating Elon Musk on Twitter, promoting Bitcoin scams like "send 1 get 2 back".

• Official customer service will never send you unsolicited private messages!
• Recognize "blue checkmark" verification for celebrity accounts (but be cautious, as some blue checkmarks can also be fake).

3. Pyramid scheme capital pools (such as "Bitcoin mining wealth management")

    

Case: The PlusToken scam swindled 3 billion US dollars.

• Remember: high returns = high risks. There is no "capital-guaranteed wealth management" with Bitcoin!
• Check the project background. Those with no real technology and only boasting about making money are 100% scams.

Golden Rules for Safe Investing

• Store large amounts in a cold wallet (the safest as it's not connected to the internet).

• Use reliable exchanges for small transactions (choose those with regulatory licenses).

• Never disclose your private key/mnemonic phrase (no one will ever ask you for this!).

• Be wary of "pies falling from the sky" (99% of airdrops and free coin giveaways are scams).

What to do if you've been scammed?

• Report to the police immediately: Although recovery is difficult, filing a case can increase the chances of solving the crime.

• Expose the scammers: Warn others in communities and forums (but be cautious of secondary scams).

• Learn from the lesson: Bitcoin transactions are "at your own risk" – there's no turning back!

   

   

   

   

  Remember: In the cryptocurrency world, security is more important than making money!