It would be such a tragedy if currency speculation encounters fake virtual currency exchanges

Source: Lawyer Liu Honglin

As a machine for creating trust, the main purpose of blockchain is to remove the false and preserve the true without being tampered with, but ironically, in the blockchain industry There are quite a few cases of fraud and fraud.

In the past six months, we have received inquiries from customers who bought USDT and bought fake U, and we have also received many tragic experiences of downloading fake digital currency hot wallets and then having their assets stolen. But the most costly fraud is the operation of counterfeit virtual currency exchanges.

Previously, Lawyer Honglin received a call from the United States. It was a friend from Fujian. He immigrated to the United States for many years and earned hundreds of thousands of dollars through hard work. After being introduced by an enthusiastic Chinese, Next, I invested in virtual currency on a well-known exchange. The more I invested, the more money I invested, and the profit was considerable. However, when I wanted to withdraw the currency, I couldn’t. After the middleman lost contact, I finally I realized that I had been deceived. It turned out that the website was fake, and my millions of assets had been defrauded.

It sounds unimaginable, but it is not uncommon in the industry to fake virtual currency exchanges. This is true not only in the United States, but also in Hong Kong.

On March 4, the Hong Kong Securities and Futures Commission (SFC) today warned the public to beware of fake websites pretending to be licensed virtual asset trading platforms. These include HSKEX, which pretends to be Hash Blockchain Limited, and four operating websites, including www.hskexpro.com, as well as www.oslexu.com and www.oslint.com, which pretend to be OSL Digital Securities Co., Ltd. The China Securities Regulatory Commission received complaints about withdrawal difficulties. After the report, these websites have been included in the warning list of suspicious platforms, and it is pointed out that victims are required to pay high fees and taxes. Hong Kong police have blocked these websites at the request of the Securities and Futures Commission. The Hong Kong Securities and Futures Commission reminds the public to verify the legality of the platform before conducting transactions, and recommends that the information of licensed entities be checked through the SFC's public register.

In the dark forest of virtual currency investment, it can be said that improving awareness of fraud prevention is A must for survival. The most troublesome thing is downloading fake virtual currency wallets and virtual currency exchanges. Because in these two cases, one's assets are directly handed over to the hands of criminal gangs.

Lawyer Honglin was on the X platform yesterday and saw a coin-stealing routine shared by a friend of Slow Mist. The general method is that criminal gangs will obtain a lot of wallet information with private keys leaked through technical means. Some of these wallets actually contain virtual currency, but the amount is generally not large. Then the relevant wallet addresses are monitored. If a large amount of digital assets is transferred to these wallet addresses, the criminal team will directly transfer the digital assets. It can be said to be the web3 version of pond fish farming.

How do you want to achieve it? Lawyer Honglin speculates that the reason is that the user was guided to download a fake virtual currency wallet, or the user's photo album viewing permission was obtained through other APPs, and then a screenshot similar to the private key mnemonic was used for text recognition. In order to steal users' virtual currency assets, hackers can do anything they can.

For friends who are involved in virtual currency investment,Lawyer Honglin gave some tips, which are safe tips for preventing fraud in the currency circle, but it is not an exaggeration at all:

1. Whether it is a virtual currency wallet or a virtual currency exchange, never click on anything shared by strangers on the Internet Links to download, especially those links from KOLs where Amway on X says you will receive commissions for downloading. For those netizens who enthusiastically share the download links of major popular exchanges in various WeChat groups, beware of being deceived.

2. If you really need to download the APP, it is recommended to download it through the official media account (The one with platform certification) to download. Or download it directly from the official website.

3. Except for the top 10 virtual currency exchanges in the world, it is recommended not to play Little pheasant exchange.

4. Do not purchase the identities of users from other countries and regions on the Internet for KYC Speculate in coins, otherwise your account will be frozen or cancelled, and you will have no place to cry.

5. In the official communication community, beware of sharing by official customers or business managers Wealth cryptography or staking mining activities are very simple. If you can really make a lot of money, it will not be the turn of a novice who has just entered the currency circle.

6. When creating your own virtual currency hot wallet, please do not take screenshots or Copy and paste it into a mobile memo or send it through WeChat File Assistant. Try to use handwriting to save the mnemonic phrase. At the same time, it is also recommended to use an old mobile phone (iOS preferred) that you do not use as a dedicated wallet, and disconnect the mobile phone from the Internet when you are not making transfers on a daily basis. Reduce the probability of being hacked as much as possible.

7. When using APPs involving asset transactions, the security level that can be activated Authentication is enabled, such as setting the fund password, email verification password, and Google authenticator password login. My commonly used withdrawal system is stored in the transfer address book with custom labels.

8. If digital assets are stolen or investments are defrauded, it is recommended to call the police as soon as possible. Virtual currency assets are protected by law in China. Find the asset transfer address (usually a centralized exchange) through on-chain tracking, contact the exchange customer service staff to apply for account freezing, and recover as much asset losses as possible.