How can bitcoins be stolen? The most efficient ways used by the cyber robbers

How can bitcoins be stolen? The most efficient ways used by the cyber robbers

How can bitcoins be stolen? This issue is interesting not only to criminals, but also to holders of cryptocurrency, because every owner of virtual assets worries about their safety. One of the advantages of cryptocurrency is its security against counterfeiting and theft, but in the history of bitcoin, there are several cases of hacker attacks, which led to the quite large financial losses. To protect yourself against such challenges, you need to know how criminals act.
 
Table of content:
- What is the most important thing for cyber thefts?
- The most common ways to steal BTC
- Conclusion: how to take care of your crypto safety?
 
What is the object of theft?
 
Bitcoins are the virtual money that can not be put in a purse or a pocket, unless, of course, it's not a paper wallet to store BTC, which must be kept in a safe place like ordinary money or securities. The goal of thieves is a private key - a set of numbers and symbols used to confirm transactions. Simply put, with the help of a private key, digital coins are transferred from wallet to wallet. The private and public keys are mathematically linked, and having got your keys the offender will easily transfer funds to another account and no one will help to return these savings.
 
How can a private key be placed in the third parties? Bitcoin wallets are of different types. A paper one is a printed document that displays both keys. Desktop wallets allow you to store keys in a special file on your hard drive, but no one here guarantees complete security. There is special soft for the encryption, so it must be used. In the case of online, mobile and thin wallets, the keys are generally on the remote server. Hardware wallets are considered the most secure in this regard. Access to such a device is impossible, because bitcoins are in the so-called cold storage.
 
Every owner of the cryptocurrency is personally responsible for his or her virtual finances. This is one of the main features of bitcoin and other types of crypto. The absence of censorship, decentralization and complete freedom of action also has the downside: state bodies will not defend your interests in the case of robbery. Also, the BTC network does not provide for the return of funds mistakenly transferred or stolen. You just lose your money forever!
Finders keepers, losers weepers- so you can paraphrase this situation in an allegorical way. Scammers have chosen the world of virtual money and are constantly searching for the ways to steal keys or impact on the user psychologically. So, with what tricks do they manage to rob the holders of cryptocurrency today?
 
Sly programs
 
Computer viruses, that are introduced into the system and require a ransom in the cryptocurrency, have become a real problem these days. You just cannot turn on your computer and work, a whole network of shops is idle, and the ticket office can not sell tickets for the plane! It is quite dangerous, isn’t it?
In fact, it is very unpleasant. The program-blackmailer encrypts files on the PC, and for their decryption requires paying a certain amount to the wallet. Naturally, the wallet is anonymous, like all transactions in the BTC network.
 
In this case, we are not talking about the theft of your private keys. Everything is much simpler and the victim of such fraud can be a company or an organization that depends on the well-coordinated work of computer equipment and can not afford a long pause in the work. Experts recommend to be extremely careful about downloaded files, do not load a suspicious soft and to protect your system by using good antivirus products.
 
Fake wallets
 
To store bitcoins on a PC, you need to download and install a special program on the hard disk. Their choice is great, and one should trust only the verifiable sources. Sly scammers create fake resources, and if you download from there an application it can have the same logo and installation process as any popular product. You create an account there, but as soon as you transfer the cryptocurrency to it, you will not see your coins any more.
 
Fake wallets appeared even in the AppStore, and inattentive users installed the application on their iPhone or iPad. Users put into it the cryptocurrency – in many cases they just buy BTC with a credit card - and go without their savings. Such fakes threaten not only the participants of the cryptocurrency market, but also real services with a reliable reputation, because fakes first of all copy their interface and logo.
 
Fishing
 
With the help of fishing robbers receive information quickly and easily. For this purpose, they use e-mail and fake sites. With the help of tricks, intruders made users provide them with data, for example, in the process of registering on some attractive resource, type the login and password for the bitcoin wallet, and some ask for a private key.
 
Another method of fishing is an official letter. Such a request comes as if on behalf of a well-known company, an exchange or other organization. Trustful and inattentive people in the response report all the information in full. Also there are forgeries of sites of exchanges or wallets where users leave their keys without a second thought. Carefully read the name of the site, check the pass and replace letters.
 
Pyramid scheme
 
Financial pyramids actively work and rob people in the real world. There are many tragic cases when people gave their savings in the hope of obtaining interest or other privileges. Now the financial pyramids have reached the cryptocurrency. If you are actively persuaded to invest in some profitable business in order to get rich in the near future, do not agree. Bitcoin pyramids have already been organized in various countries of Europe and Asia.
 
Fake Cryptocurrency
 
Bitcoin can not be faked, because its algorithm and the structure of the blockchain system do not allow this. However, even here scammers invented their own scheme. Many people remember the Onecoin project. On the Internet there was a lot of hype around this "crypto", people invested in it, sending their real money and bitcoins to the accounts of thieves. Of course, there was not even a hint of blockchain, mining and other attributes of digital assets. The cryptocurrency for investments should be checked from A to Z. At the very least, one should inquire about the reputation of the coin on CryptoCompare.
 
Scam ICO
 
ICO projects are one of the most popular spheres of the scammers’ activity. Here it is easiest to deceive the gullible bitcoin holders even without complicated technical methods, virus software, data encryption, etc. There are many examples of scam ICOs in the history. You just dance to the tune of those who sell tokens and promise you a lot tomorrow. Carefully study the proposal, read reviews, hire experts and analysts not to give your savings to someone just like that.
 
Exchanges and P2P platforms
 
Decentralized exchanges are a project that is at the stage of the active development. Most of these resources today are a centralized system; therefore, your money is stored on the remote server. What is a server? This is a computer that can be hacked at any time. Experts do not recommend storing bitcoins on the exchange accounts, but use them only for making transactions.
 
As for peer-to-peer platforms for buying and selling bitcoins directly, here you are dealing with a private person. His or her reputation on the resource is of enormous importance, but here no one is immune from fakes. If you have even the slightest suspicion, use payment methods that enable you to challenge a transaction, for example, PayPal and Skrill. Typically, rogues offer to buy your BTC at a more attractive price than on exchanges or exchangers.
 
Conclusion
 
How can bitcoins be stolen? As you can see, there are many ways to do it. Hackers who are able to
steal keys even through an unprotected WiFi connection, experienced fraudsters, psychologists, organizers of the false ICOs - this is not a complete list of those wishing to take your virtual coins. The owners of bitcoins should be very careful and cautious, because at the moment no one can protect your interests. Stolen digital assets, as already noted, will not be returned.



RECOMMENDED ICOS