Knowledge Hub
Technological Risks
Phishing scams, fake sites, and smart contract bugs can cost you everything. Stay alert and protect your assets.
Cryptocurrencies rely heavily on technology and internet security, which exposes users to risks like phishing attacks, scams, technical glitches, and fake websites. These threats can lead to unauthorized access, loss of crypto assets, or interruptions in using platforms.
Hackers often pose as trusted services to trick users into revealing sensitive information such as login details, private keys, or seed phrases. Once these are compromised, the loss of funds can be permanent. Always double-check website URLs before connecting your wallet and never share your seed phrase or login credentials with anyone.
Be careful when approving transactions, especially if they seem unclear or suspicious, since malicious smart contracts can drain your funds without your knowledge. Additionally, there are broader risks like blockchain hacks or vulnerabilities in smart contracts that sometimes occur outside the control of exchanges.
Key points to remember:
Phishing, clickjacking, and counterfeit websites are common security threats.
Always confirm website URLs before connecting wallets and keep your seed phrase private.
Avoid approving any transactions that look suspicious or unclear.
Systemic risks include blockchain breaches and smart contract weaknesses.
Protect your accounts by using strong passwords and staying alert online.