Crypto Academy Week 5 Homework Tasks: by @gbenga | Security Problems with Cryptocurrency: My Personal Experience

Good tidings @gbenga, this subject is interesting as I have a personal experience when my account (particularly my wallet) was compromised. If individuals know about security and dangers in digital forms of money they will keep on setting their trust in them.

INTRODUCTION:

Cryptocurrency is always vulnerable to security risks due to its digital nature. There's a lot to be aware of, from hacks to bitcoin email scams. It could be hacked in a number of different ways. Traditional hacking, malware, and phishing attacks are some of them. Simple things like giving out your password or clicking links in your email scams can put your cryptocurrency at risk. Look for features such as two-factor authentication, a customer service team that can help with any questions, and a company that prides itself on transparency to avoid it.

SOURCE

I believe the most important thing when it comes to cryptocurrency threats is that most people save their private key much as every other file on their phone. The possession of a key on the computer entails a number of threats. It's really risky since hackers can easily reach a person's computer. And it can't be traded if the key is lost. It's like a credit card that doesn't need any verification. The amount of blockchain technology and device attacks is remarkable. I believe the most important thing when it comes to cryptocurrency threats is that most people save their private key much as every other file on their phone. The possession of a key on the computer entails a number of threats. It's really risky since hackers can easily reach a person's computer. And it can't be traded if the key is lost. It's like a credit card that doesn't need any verification. The money is no longer available. The amount of blockchain technology and device attacks is remarkable.

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WRAP-UP:

We spoke about a number of threats, including DS, DDoS, Dusting, Cryptojacking, and Eclipse, in addition to clicking links. We were taught that wallet-seed phrases and mnemonics are examples of a private key that must be kept at some point because these keys allow you to enter, not just to access the money in your wallet if your phone and device were lost.

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HOW MY ACCOUNT WAS BEING COMPROMISED:

I'm going to be on #Steemit for four years in August, but I was compelled to create another account because of the incident that compromised my account. I've admitted and felt awful for what happened, but it's also my fault because I was so exhausted late at night, one of the contributing factors why I didn't pay attention to what I was doing, and click on the site. It was too late for me to realize that the link I entered was a phishing site. This is the site that victimized me:

Just Network

This is how he stole my wallet and the others:

I came to realize that I was entering a phishing site. I spoke quickly to my friend and transferred my SBD and STEEM to his account so that the hacker would not be able to steal them. I have 120+ STEEMs, but I have left 20+ STEEMs so I'll know if anyone has access to my account. I was right with my haunches because the 20+ STEEM I left in my wallet was transferred to the hacker's account as you can see through my screenshot.

https://steemitwallet.com/@contestbuddy/transfers

I felt like I'm being dumped out of freezing water full of ice. It was good that I transferred my earnings to my friend. Well, sometimes stupidity also serves as a lesson and I charge it to experience. From now on I will bear in mind the saying: THINK BEFORE YOU CLICK!

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Conclusion:

Everyone must know how to shield themselves from the dangers associated with digital currency against malicious threats raised by wallets, platforms, nodes, and forums. People must realize you can't just sit at your computer and click buttons. No agency or administrator oversees the creation, movement, and control of the currency. Individuals should keep their private keys, mnemonics, and seeds confidential, but other details must be kept safe to prevent hackers from losing money.

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This is going to be my homework assignment for Prof. @gbenga this 5th week, and I hope it's all right and approved.

I would like to thank you for all the efforts and information I have gained from the lesson, and look forward to the next lesson next week.

I would also like to thank all the Steem Team who launched this new project, @steemitblog, @steemcurator01, @steemcurator02, and all the curators who supported this project.

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God speed