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How To Avoid Cryptocurrency Scams: Part 2 🕵️‍♂️ Scammers are always finding new ways to steal your money using cryptocurrency. To steer clear of a crypto con, here are some things to know. To avoid business, government, and job impersonators, know that No legitimate business or government will ever email, text, or message you on social media to ask for money. And they will never demand that you buy or pay with cryptocurrency. Never click on a link from an unexpected text, email, or social media message, even if it seems to come from a company you know. Don’t pay anyone who contacts you unexpectedly, demanding payment with cryptocurrency. Never pay a fee to get a job. If someone asks you to pay upfront for a job or says to buy cryptocurrency as part of your job, it’s a scam. Blackmail scams Scammers might send emails or U.S. mail to your home saying they have embarrassing or compromising photos, videos, or personal information about you.

📰 Hacker Behind 2023 KyberSwap Attack Moves $2.5 Million From Arbitrum to Ethereum The hacker responsible for the November 2023 KyberSwap attack has been spotted transferring nearly $2.5 million in cryptocurrency. According to a February 26 X post by blockchain analytics firm PeckShield, the hacker moved 798.8 Ether, valued at approximately $2.49 million, from Arbitrum to the Ethereum blockchain. KyberSwap Attack The KyberSwap attack which occurred on November 23 last year was one of the most notable DeFi hacks of 2023. Shortly after the attack began, KyberSwap informed its community of a “security incident,” urging users to withdraw their funds. It was initially reported that approximately $46 million in digital assets were taken, but subsequent investigations revealed a sum closer to $49 million.

📰 Stablecoin Market Capitalization Hits $138 Billion as Volume Grows by 4.5% this Month The stablecoin market capitalization has soared 1.95% to hit $138 billion in February recording a fifth consecutive monthly growth since September 2023. A new market report by cryptocurrency analytics firm CCData shows a stablecoin market capitalization and trading volume rise. Stablecoin Dominance Plunge Continues The report hinted at a higher figure this month as a result of $440 billion in trading volume recorded as of February 16. Although stablecoins saw increasing figures and activities, their overall market dominance plunged from 8.15% to 7.09% this month.

How to Avoid Cryptocurrency Scams: Part 1 🕵️‍♂️ There are several actions you can take to avoid being scammed. If you notice any of the signs, you shouldn’t click on any links, dial a phone number, contact them in any way, or send them money. Additionally: Ignore job listings to be a cash-to-crypto converter or crypto miner. Do not fall for claims about explicit material they have of you that they will post unless you send cryptocurrency, and report it. Don’t accept “free” money or crypto.

Cryptocurrency The term cryptocurrency means virtual or digital currency that is built on blockchain and is secured by cryptography. Cryptocurrencies are digital money that works as a medium of exchange over the internet. One of the defining features of cryptocurrencies is that they are usually not by a central authority, making them immune to government intervention or manipulation. The three important concepts on which cryptocurrency is based include blockchain, decentralization, and cryptography. Blockchain, in the case of cryptocurrency, is a digital ledger, the access of which is distributed among authorized users. This ledger maintains a record of transactions related to various assets, such as money, house, or even intellectual property (IP). Any information that blockchain records are not tamperable even by an administrator.