In-Depth Exploration of Encryption Scams: Prevention Strategies and Security Recommendations

In the Web3 era, digital wallets have become an indispensable infrastructure for users. However, no matter how cautious they are, users may still fall into scam traps. This article reveals common fraud tactics based on an in-depth interview with a encryption scammer and provides practical protective measures.

Scam Targets: Everyone is a Potential Victim

Inexperienced users are more likely to become targets of "social engineering" attacks. Scammers are skilled at using psychological techniques to gain trust, and then induce victims to download malware or disclose sensitive information. Respondents claim to be programmers and carry out scams by promoting "high-yield" programs.

Fraud Profits: Beginners Can Earn Ten Thousand Yuan a Month

The income of scammers is closely related to their skills and methods. Even scammers with only six months of experience can easily earn $5,000 to $10,000 per month.

Data Breach: Beyond Encryption Assets

Fraudsters primarily target encryption assets, but may also be involved in illegal activities such as extortion and personal information theft. Stolen data may spread online, triggering a chain reaction. For example, after obtaining computer data through malware, fraudsters may use password cracking tools to attack MetaMask wallets. Setting complex passwords of 15-20 characters or more can effectively enhance security.

Money Laundering: Complex Transfer Paths

Fraudsters typically use the following steps to convert illegal gains into cash:

1. Store 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. Finally, exchange the tokens for US dollars in cash.

Preventive Measures: A Multi-Pronged Approach

To avoid becoming a victim of fraud, users can take the following measures:

• Install reliable antivirus software
• Avoid saving passwords in the browser
• Restrict download permissions from the internet
• Set a strong password for wallets like MetaMask.
• Do not take screenshots or save photos of your mnemonic phrases/passwords.

Social Media Security Guidelines

For platforms like Telegram and Discord, users should be aware of:

• How to handle data and devices when encountering malware
• Regularly change social media, trading platform, and email passwords
• Correctly set up two-factor authentication (2FA)
• Reinstall the operating system if necessary

Conclusion

While pursuing encryption profits, ensuring asset security is crucial. By understanding scam tactics and taking corresponding protective measures, users can better protect their digital assets.