Unveiling Encryption Eyewash: Preventive Measures and Protection Strategies

In the Web3 era, encryption wallets have become the most basic tools for users. However, even with the utmost caution, some people still fall into the eyewash traps. This article provides an in-depth analysis of the methods used by a cryptocurrency scammer through an interview, aiming to raise awareness of prevention.

Target of the scam: Anyone can become a target

New users are more easily confused by simple social engineering techniques. Scammers often use psychological manipulation to gain trust in order to achieve their fraudulent goals. Typically, they will lure victims into downloading specific software or sharing private information for various reasons. The interviewed scammers claim to be programmers, promoting so-called "high-yield programs" to their targets.

Eyewash earnings: Varies by skill

The income of a fraudster depends on their techniques and experience. For example, a scammer with only six months of experience can easily earn $5,000 to $10,000 a month.

Scope of Data Breach

Scamming activities mainly target encryption assets, but may also involve extortion, personal information theft, and other illegal activities. The data on the victim's computer may be exposed and exploited by other criminals.

Taking MetaMask wallet as an example, if a user installs malicious software, the eyewash may acquire all computer data and attempt to crack the wallet password. Therefore, it is crucial to set a complex password of more than 15-20 characters.

Money laundering methods for illegal gains

Scammers usually follow these steps to convert the proceeds into cash:

1. Deposit funds on the BSC network
2. Exchange the token for XRP
3. Use false KYC to transfer to centralized exchanges
4. Withdraw tokens from another exchange
5. Ultimately exchange the tokens for US dollars in cash

Prevention Suggestions

To reduce the risk of being scammed, the following measures can be taken:

• Use reliable antivirus software
• Avoid saving passwords in the browser
• Restrict permission to download from the network
• Set strong passwords for wallets and websites like MetaMask.
• Do not save screenshots or photos of your mnemonic phrase or password.

Social Media Security Guidelines

In addition, the following points should also be noted:

• Data and device handling methods after discovering the device is infected with malware
• How to update passwords for social media, trading platforms, and email accounts
• How to reset two-factor authentication
• How to reinstall the operating system

Conclusion

While pursuing the returns of encryption assets, ensuring the safety of assets is even more important. It is hoped that the information provided in this article can help readers stay vigilant and protect their digital assets.