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Milana Korofetova
Milana Korofetova

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Understanding Phishing: Types and How to Stay Safe on Crypto Exchanges

Phishing remains one of the most common threats in the cryptocurrency space, and its methods continue to evolve. Here are a few types of phishing attacks you should be aware of, particularly if you're active in crypto:

  • Email Phishing: Hackers send emails mimicking trusted crypto exchanges, often containing malicious links designed to steal login credentials.

  • Clone Phishing: Attackers clone legitimate websites or apps, tricking users into entering their login details, granting hackers access to their accounts.

  • Spear Phishing: This is a targeted attack where hackers send personalized messages to convince individuals to share sensitive information.
    Many leading crypto exchanges have implemented strong security features to protect users from such attacks. For example, WhiteBIT offers anti-phishing codes and two-factor authentication (2FA), allowing users to set a unique code that appears in all official communications, helping them identify legitimate messages. Bybit also emphasizes the use of 2FA, while Coinbase incorporates security alerts and an advanced encryption system to protect its users.

In 2024, phishing attacks have surged, with research from Keeper Security highlighting the rise in cyberattacks. Exchanges like WhiteBIT, Bybit, and Coinbase have responded by upgrading their security protocols, but it's crucial for users to stay vigilant. WhiteBIT's recent Halloween campaign on crypto fears served as a timely reminder of the importance of being aware of phishing threats. Educating yourself on the latest phishing tactics and utilizing security tools like 2FA can significantly reduce your risk of becoming a victim.

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