Protecting Yourself From Cybercriminals

Initial coin offerings and the general topic of digital currencies is honey to some nefarious bees out there.

Messaging Applications

Only a few companies with an ICO don’t have Telegram groups. Telegram is a messaging application that is similar to Whatsapp. The companies that do utilize Telegram groups use it to interact with their customers for token sale. In these Telegram groups, you can talk to the admins of the various groups who are employees of the companies. Customers can also chat with other customers.

Unfortunately, any Tom, Dick or Madoff can get into the group and pose as admins and get tokens from you as payment.

How do they trick the customers?

A scammer could ask you to use a wallet from which your coins will be stolen. You could also be asked to send your email address to spam you will potential opportunities.

What you should do: Make use of only the official wallet of the company to pay. These are public on the company’s site

Be wary of emails that are asking you to do something supposedly sent by the company.

Google / Facebook / Website

These nefarious elements will stop at nothing to strip you of every last coin you possess and you must diligent in maintaining your digital privacy. So do change your password often and don’t have the site remember the password.

At the end of the day, it is up to you and you only to protect yourself. Do not be naive.