Scams on Mobile Phones
Have you ever scrolled through your social media feed and come across coin giveaway messages or heard personal scam encounters from a close one?
Fear no more, because today, we will be preparing your scam-immune system before using your mobile device on any platform.
Scamming is a scheming method that takes many forms of trickery, luring victims into providing personal information. In the past, scams were conducted through the creation of fake websites or verbal communication. However, in the technologically advanced age, mobile devices have played a larger role in society, leading to movements onto this platform as well. Some scams one may come across are as follows:
1. Coin giveaways - advertisements advocating free coin giveaways in exchange for certain pieces of information. Such propaganda can take the form of advertising a 10 BTC giveaway, which requires initial coin transfers before entering the competition. Investors are advised to inspect the regulations and credibility behind such messages or ignore them entirely, before reporting them to appropriate authorities. On such occasions, scammers can be quite convincing. They may even go to larger distances like creating Blue Verification Badges on Facebook to provide false credibility.
2. Public WiFi - public WiFi can be a means of accessing personal data and assets as it can lead to fake websites. Investors should stay away from suspicious websites or from public WiFi altogether and choose to connect to trustworthy networks instead, like personal WiFi networks.
3. Fake applications - In the past, personal information like emails, passcodes, and Private Keys have been obtained from fake applications’ registration, giving access to one’s email account and assets in crypto wallets. What’s interesting is that most users that have fallen victim to these trickeries do not protect their assets with the 2-Factor Authentication passcode layer (2FA). This transparently indicates that 2FAs are key to preventing unwanted access to assets.
4. Fake addresses - these can come with spoofed applications or even in the form of viruses. When a user fills in their address before transferring assets, though they choose to copy the correct address, when pasted, the recipient’s address would be automatically changed to the malicious scammer’s instead. If not careful, investors could unknowingly transfer funds to scammers without noticing. A method to prevent such scams is to conduct background credit checks on the website or application, while also scanning for potential viruses on the device as well.
Methods of prevention
What one can do immediately is conduct in-depth research in regard to investing in digital assets. When first studying this field of investment, one would learn that protecting assets from scammers is an integral part of managing risks. The first topic learned would potentially be to never provide Private Keys to anyone, not even if it is requested from a website or application.
Being vigilant is also key. When coming across fake coin giveaways or Bitcoin mining services on mobile devices from unknown and noncredible service providers, be aware that it may be a potential scam. If it is not an airdrop from a trustworthy creator, such incidents can be deduced as too good to be true.
Lastly, implementing the 2-Factor Authentication passcode layer (2FA) is also increasingly secure for assets and account protection as they are passcodes only the owner knows, making many scams ineffective.
Scamming in the present day has spread like wildfire onto mobile devices as well and can be found in numerous approaches, such as coin giveaways, fake applications, and websites. Investors are highly advised to conduct in-depth and adequate research, while also being vigilant for suspicious activities to protect themselves and their personal information. Lastly, employing the aiding help of the 2FA protection layer would increasingly provide relief and security as well.
Coindesk, Binance Academy, Kaspersky