social 2 2 How to stay safe from crypto hackers: One man's story

How to stay safe from crypto hackers: One man’s story

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-Crypto scams are becoming more common and costly, according to regulators.

-One common snare is the purported promise of huge returns.

-The question is how to stop it, as federal lawmakers come up with proposed bipartisan legislation aiming to put cryptocurrency under more government supervision.

-As crypto investments keep hemorrhaging value during the latest downturn in the market, the question is also whether market conditions will turn more investors into the targets of scammers preying on people trying to recoup loses.

-For now, Grauer has not seen an increase of scamming across assets.

-Anecdotally, we have heard that some people may lose money to scams because the high-risk stakes of these investment offerings are appealing, Grauer said.

-Kissi has been day trading cryptocurrencies since 2017, and at the heart of his strategy is swapping coins to pocket returns.

-In late April, Kissi received a direct message to his Telegram account from a person he didnt know.

-The person gave Kissi a heads up on an outfit that was offering a wide range of sustainable finances that integrates the most efficient Human-Centered Artificial intelligence to infuse cognitive fiat-cryptocurrency trading and financial services by analyzing millions of data points and execute trades at the optimal price.

-For $10,050 paid in Bitcoin, the return could be 19% in six days, according to screenshots Kissi provided.

-Kissi made the bitcoin payment, gave it couple days and then sought a withdrawal. But Kissis returns appeared to be expanding so much, he was required to pay a higher fee, the site emailed him.

-Even though Kissi suspected something was amiss, he made a last, desperate attempt to hold onto the belief that he had not just thrown his money away and supplied another $4,250 in mid-May.

-Over the next several days, Kissi began submitting complaints to authorities, including the Federal Trade Commission and the Ohio Attorney Generals office. Nevertheless, Kissi tried one more time to withdraw what he sunk in and paid another $5,050 in bitcoin in early June.

-Why? Even Kissis friends told him not to do it, he recalled. There was still a little part of me that said, Maybe, Kissi said. Also, a scam might still at least pay out to one victim as it tried to operate by pulling in another, he said.

-Kissi is resigned to never seeing the coins or his investment again. But hes unapologetic about his decisions particularly at a time when he hears from friends and relatives who complain about the losses in their 401(k) accounts.



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