Bored Ape NFT Phishing Scam: Importance Of Crypto Security

2021 saw a great sprung up on digital assets and exposure to lots of hacks. These digital assets are exposed to the risk of hacks because they are on hot wallets. This is the last day of 2021, and if there is one thing I have learnt from this year, it’s don’t click just any link you see, try to verify a crypto website before you enter it or connect your wallet. I have also learnt the importance of having a cold wallet.

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I feel so sorry for this NFT collector who got scammed off $2.2 Million worth of NFTs because he clicked a phishing link. That’s a lot of money to lose before the end of the year or any time at all. The most tragic part is that, these NFTs are very valuable and will be worth far more in future, sadly the collector lost it all to a hacker. He clicked a link that seemed like a genuine Dapp for NFTs, which made him connect his wallet to this Dapp, and the authorization of the connection was all that was needed for the hackers to do what they wanted to do.

These hackers were honestly too brutal, they made away with 16 of his valuable NFTs, I just can’t imagine the pain and hurt of losing 8 Bored Ape Yacht Club NFT, 7 Mutant Ape NFTs and a CloneX NFT.

The collector whose name is Todd Kramer made a tweet saying all his apes were gone, but got teased by some people on Twitter who told him to change his Twitter profile picture since he didn’t own a bored ape anymore. This tweet brought the attention of the devs of open sea, they got these NFTs frozen, hopefully they can help him recover his NFTs.

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As a crypto investor, you need to know the importance of crypto security you don’t have to experience being hacked before taking that step of providing a crypto security for yourself. They are so many ways to secure your crypto.

If you use a hot wallet like exchanges, hot wallets are wallets that require internet, you can set up 2FA. This is a very important tool that is essential, it generates password every 10 seconds for you on your mobile phone. This means that the hacker needs to be with your phone to be able to penetrate your account.

The importance of being careful and vigilant of the website you are clicking is also important, phishing scams are extremely tricky, it could be a change in letter or an additional letter or number on the url, is enough to clone a site that looks extremely genuine and is a mirror of an actual website. So don’t always be too much in a hurry to click a site and connect your wallet to Dapp.

Always protect your keys, remember “not your keys not your coin” every time. Because the moment someone gets hold of your keys, that’s the end of ownership for you. Always protect it, some people scribble their keys on a metal surface, some people write it but change some few letters that only them can know and memorize so that, should incase it comes in contact with any malicious person, the keys will be useless.

Also get cold wallet and keep assets you know you are not going to sell anytime soon. Idled assets can’t just be sitting in your wallet, they are exposed to being hacked and stolen, lock them in a cold wallet to protect. For instance if you have 10 ETH or NFTs you are not looking forward to spending anytime soon, instead of risking exposing it to hackers, you can store them in a cold wallet.

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