8 ways people lose their crypto stored on exchanges

[Nonahassan 915]

All of these methods actually lead to the loss of your account and the loss of your money, so you have to actually preserve all of this information and methods so that you do not lose your money 

[Abrar1122 10]

if we are to use money and to keep money on different platforms on internet there are different things that we need to learn and your topic is a step forward towards them

Edited February 18, 2021 by Abrar1122

[robiul03 17]

This is correct and most importantly we should be aware of scams and if we do not rely on it then there is no need to open any link. Thank you very much for this helpful post. We need to be more careful now. We need to be aware. Thank you.

[Kimram 265]

Yes, this is very valuable information and indicates that its owner has a lot of information and experience. I hope that beginners understand these matters well so that they do not fall into such matters.

[Ayham7daoud 463]

 The use of two-factor authentication is very important to protect our balance on the platforms when the email is hacked, so you must commit to activating it in addition to the presence of many exchange that force you to activate it 

[Cleaner 2549]

We can all gain good knowledge by reading this topic.  There are various ways to lose money from exchange sites in the crypto world.  We should all use good and strong passwords.  Stumbling across Gmail's password.  The same password should not be used everywhere.  Using 2fa on the exchange site.  Do not hold money on the exchange site for a long time

[Ayinlek 42]

On 4/4/2020 at 8:44 AM, AkaCrafterCZ said:

DON'T QUOTE THE WHOLE THREAD PLEASE!

 

Losing your money can be devastating. It is scary how often people lose accumulated coins on security mistakes.

In this article, you will learn all the ways how people lose their cryptocurrencies on exchange wallets and how you can avoid unnecessary losses.

1. A weak password

A weak password is something that has one or more of these qualities:

• It can be guessed with common words or your special days
• It is short and can be brute-forced easily with password hacking tools
• It is used in many places. If one service has a leak, all your accounts are compromised.

This is why creating a strong unique password for every site you use is important.

2. Phishing attempts and scams

Phishing is a type of scam that tries to get access to your assets by you willingly giving your login details to the scammer.

A typical phishing attempt is receiving an email that is supposedly coming from the exchange. Once you click the login link on the email, you are directed to a website that looks exactly like the exchange.

The only difference is the URL address and once you give your login details, you are not actually logging in. When you log in to your exchange a few minutes later, you realize that you have just willingly given your login details to a scammer and they already withdrew your funds.

3. Email or device got compromised

In 2013, 3.1 million phones were stolen in the USA. It is more common than ever to always be logged in to your email with multiple computers and your mobile devices (and old phones in your house).

Nowadays many exchange withdrawals and password changes require you to accept the withdrawal on your email. This is why email security is more important than password security.

• How many devices are you logged in to your email? Where are the devices?
• How many times have you left your work computer or personal computer or phone on when others could have accessed your devices and your logged in email account?
• How many times have you lost your phone?
• Are your phone and computer storage encrypted so the data cannot be transferred to another device?
• Does your phone have a mere pincode or do you use a strong password?

Remember, it only takes one person with ill-intent to exploit your ignorance.

4. Not using a 2-Factor Authentication (2FA)

If your password does end up being breached 2FA acts as your second password. Most exchanges have an option to enable 2FA, you might see it under ‘Google Authenticator”.

Google Authenticator is an app that you install on your phone. Every 30 seconds you receive a new set of 6 random numbers that you need to enter timely into the exchange to confirm sensitive actions. It's almost impossible for someone to guess your 2FA code.

5. Phone with 2FA app is broken or stolen

One drop could cost you your crypto

A big problem with 2FA is the fact that people do not save the QR code they initially get from the exchange. It is easy to just add the Authenticator on their phone and click next. This is a major risk.

If something happens to your phone, you are not able to recover the 2FA generator!

You should either take a screenshot of the 2FA QR code and store the screenshot on a secure offline USB stick or print the QR code on a piece of paper and put it somewhere safe.

This way you are able to recover the 2FA generator even if your phone is lost. This is especially important in exchanges that you have not given your identity information.

6. The exchange itself gets compromised

Whenever you are using 3rd party service, you are exposing yourself to a 3rd party risk.

Take the legendary Mt. Gox case for example. It was one of the earlier crypto exchanges and in 2013 processed most of the world’s crypto trades. Many people trusted the website and stored their valuable Bitcoin on the exchange wallets for years.

But one day in February 2014 the site halted withdrawals and a few weeks later the site went down. Approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen.

7. Forgetting you have funds

It sounds silly but this is a real phenomena.

Imagine you had been a hodler for many years. The brain wants to forget about memories that have little emotional weight and that are not actively remembered.

A transfer of digital numbers years ago is not a highly emotional event which makes it easy to forget.

Another sub-category of forgetting is not preparing for accidents and even death.

Is your husband, wife, and children aware of your holdings or how to access them in case something happens to you?

Original source: https://www.collectiveholdings.io/

You are right about people losing money on exchange in different ways and that's really some of the problem, forgetting about you have funds may be difficult though, cos one day you you later remember, it's now up to you whether you remember your password or not.

[alikhan59 542]

There are many reasons but makes our password very strong and powerful. I am new on this forum and making our posts useful and helpful to the other members. This forum is real and very good for earning and learning at the same time.

[selfmade 7]

I like to add another way which is an exchange getting hacked and couldn't pay users like the case with cryptopia exchange in January 2019.

[CarlosFernando 10]

On 4/4/2020 at 4:44, AkaCrafterCZ said:

¡NO COTIZES TODO EL HILO, POR FAVOR!

 

Perder su dinero puede ser devastador. Da miedo la frecuencia con la que las personas pierden las monedas acumuladas por errores de seguridad.

En este artículo, aprenderá todas las formas en que las personas pierden sus criptomonedas en carteras de cambio y cómo puede evitar pérdidas innecesarias.

1. Una contraseña débil

Una contraseña débil es algo que tiene una o más de estas cualidades:

• Se puede adivinar con palabras comunes o en tus días especiales.
• Es corto y se puede forzar brutalmente fácilmente con herramientas de piratería de contraseñas.
• Se usa en muchos lugares. Si un servicio tiene una fuga, todas sus cuentas están comprometidas.

Por eso es importante crear una contraseña única y segura para cada sitio que utilice.

2. Intentos de suplantación de identidad y estafas

El phishing es un tipo de estafa que intenta obtener acceso a sus activos dándole voluntariamente sus datos de inicio de sesión al estafador.

Un intento típico de phishing es recibir un correo electrónico que supuestamente proviene del intercambio. Una vez que haga clic en el enlace de inicio de sesión en el correo electrónico, se lo dirigirá a un sitio web que se ve exactamente como el intercambio.

La única diferencia es la dirección URL y una vez que proporciona sus datos de inicio de sesión, en realidad no está iniciando sesión. Cuando inicia sesión en su intercambio unos minutos más tarde, se da cuenta de que acaba de dar voluntariamente sus datos de inicio de sesión a un estafador y ya retiró sus fondos.

3. El correo electrónico o el dispositivo se vieron comprometidos

En 2013, se robaron 3,1 millones de teléfonos en EE. UU. Es más común que nunca estar siempre conectado a su correo electrónico con varias computadoras y sus dispositivos móviles (y teléfonos viejos en su casa).

Hoy en día, muchos retiros de intercambio y cambios de contraseña requieren que acepte el retiro en su correo electrónico. Es por eso que la seguridad del correo electrónico es más importante que la seguridad de la contraseña .

• ¿En cuántos dispositivos ha iniciado sesión en su correo electrónico? ¿Dónde están los dispositivos?
• ¿Cuántas veces ha dejado su computadora de trabajo o computadora personal o teléfono encendido cuando otros podrían haber accedido a sus dispositivos y a su cuenta de correo electrónico registrada?
• ¿Cuántas veces has perdido tu teléfono?
• ¿El almacenamiento de su teléfono y computadora está encriptado para que los datos no se puedan transferir a otro dispositivo?
• ¿Su teléfono tiene un simple código PIN o usa una contraseña segura?

Recuerde, solo se necesita una persona con malas intenciones para explotar su ignorancia.

4. No usar una autenticación de 2 factores (2FA)

Si su contraseña termina siendo violada, 2FA actúa como su segunda contraseña . La mayoría de los intercambios tienen una opción para habilitar 2FA, es posible que la vea en "Autenticador de Google".

Google Authenticator es una aplicación que instala en su teléfono. Cada 30 segundos, recibe un nuevo conjunto de 6 números aleatorios que debe ingresar oportunamente en el intercambio para confirmar acciones confidenciales. Es casi imposible que alguien adivine su código 2FA.

5. El teléfono con la aplicación 2FA está roto o es robado

Una gota podría costarle su cripto

Un gran problema con 2FA es el hecho de que las personas no guardan el código QR que obtienen inicialmente del intercambio. Es fácil simplemente agregar el Autenticador en su teléfono y hacer clic en Siguiente. Este es un riesgo importante.

Si algo le sucede a su teléfono, ¡no podrá recuperar el generador 2FA !

Debe tomar una captura de pantalla del código QR 2FA y almacenar la captura de pantalla en una memoria USB segura fuera de línea o imprimir el código QR en una hoja de papel y guardarlo en un lugar seguro.

De esta manera, puede recuperar el generador 2FA incluso si pierde su teléfono. Esto es especialmente importante en los intercambios en los que no ha proporcionado su información de identidad.

6. El intercambio en sí se ve comprometido

Siempre que utilice un servicio de terceros, se expondrá a un riesgo de terceros.

Tome el legendario monte. El caso de Gox, por ejemplo. Fue uno de los primeros intercambios de cifrado y en 2013 procesó la mayoría de los intercambios de cifrado del mundo. Muchas personas confiaron en el sitio web y almacenaron su valioso Bitcoin en las carteras de intercambio durante años.

Pero un día de febrero de 2014, el sitio detuvo los retiros y unas semanas más tarde el sitio cayó. Aproximadamente 850,000 bitcoins pertenecientes a los clientes y a la compañía estaban perdidos y probablemente fueron robados.

7. Olvidar que tienes fondos

Suena tonto pero esto es un fenómeno real.

Imagina que has sido un hodler durante muchos años. El cerebro quiere olvidarse de los recuerdos que tienen poco peso emocional y que no se recuerdan activamente.

Una transferencia de números digitales hace años no es un evento muy emotivo que hace que sea fácil de olvidar.

Otra subcategoría del olvido es no prepararse para los accidentes e incluso la muerte.

¿Su esposo, esposa e hijos conocen sus posesiones o cómo acceder a ellas en caso de que algo le suceda?

Fuente original: https://www.collectiveholdings.io/

Hello my dear friend, that is perfect information, Without a doubt this is very useful, thank you for your contribution this will remain here forever in cryptotalk.

[Shadi29 871]

My dear friend, thank you very much for this wonderful and invaluable information that everyone needs, your information is very correct. The weak password may expose you to penetration and perhaps willingly progress to fraudulent people or the loss of the device on which your accounts are located and the platform on which the currencies themselves are traded may be compromised.

[Maya20 1048]

 Absolutely, so you must create a strong password and also activate two-factor authentication. I recommend using wallets because it is more secure, and you must choose a very secure wallet, and you can distribute money as well to more than one wallet. 

[Lewis01 136]

16 hours ago, Ivarr said:

This knowledge is extremely beneficial. Many individuals use forums as currency storage, and I never do. Instead, I know the price that I'd like to operate with in my wallet, and once the value gets big, I withdraw it to my wallet because the wallet is perfectly safe than the forums, even if they are dependable.

@Ivarr That's right, leaving the coins in an exchange saved is a huge mistake that should not be done, but many people do it and then go around the networks saying that some exchange stole them,
When in part they have responsibility for not handling their coins properly and knowing that the best place to leave them if we are not doing business is in the personal wallet, neither leaving data in a chat where everyone sees them is a good idea and many also commit that mistake.

[sally.azzam 313]

Thank you for this wonderful post, I got a really large amount of information, I think we should pay close attention to the points that you mentioned, this is very important, otherwise we may lose all we gained in a few seconds

[Moudr 513]

There are many ways that we must follow to protect our accounts and our currencies, we must follow these options to protect our money and the password must be changed every period for your accounts.