Storing Bitcoin and Cryptocurrency is not an easy task, There are new and unique types of attacks comes into action by hackers every new day.
Cryptocurrencies are too much secure as it uses blockchain technology but a big problem is to store them securely in their wallets.
1 What is Dusting Attack?
These days there is a new type of attack that comes in action which is used to steal private info of Crypto investors by sending a small number of coins into their wallets. This attack is known as Dusting Attack.
2 Why Dusting Attack?
Hackers realized that Crypto Investors don’t pay much attention towards the small or negligible amounts in their wallets as this amount is too small even not tradable on any exchange. So hackers started Dusting Attack on a large number of wallets by sending dust ( negligible ) amount of coins.
3 How Dusting Attack works?
Firstly, Hackers start Dusting a large number of wallet addresses by sending dust amounts into them. Then by using these dust transactions, they are able to track all other transactions happening through those wallets, So hackers start tracking all the transactions going on through these wallets by using different blockchain transactions tracking algorithms.
From this technique, hackers are able to reveal the identities behind these wallets and they start blackmailing the wallet owners by forcing them for revealing their identities publicly.
In starting, hackers have only used this Dusting Attack on Bitcoin wallets by sending few satoshis in Bitcoin addresses. Now Dusting Attacks are happening on many Cryptocurrencies having public Blockchain.
Privacy is too much value for Crytpo Investors because most people stored their coins on exchanges and third-party wallets which can be attacked easily by knowing private information of a user.
4 How to secure your coins?
- Make sure only you own the private key of your coins.
- Do not store your coins on an exchange or in any third party wallets.
- Do not reveal any information about your Crypto coins publicly on social media or not even in friends
- Use cold wallets or hardware wallets like Ledger, Trezor, Coldcard, Opendime. Use anyone you like but we prefer Coldcard as it creates transactions offline.
- You can also store your coins on the Core wallet if it is possible for you.
- You can also create private keys offline using open source algorithms but keep in mind that the device you used must be destroyed completely after it. Then store private keys securely and keep many backups. Don’t store your coins on addresses that are already used before. Be Pro.
- Even if you use exchanges for trading then make sure your passwords are too strong and not linked to things related to you and must use different email id’s for exchanges that are not used so much, also use privacy browsers like DuckDuckgo. Don’t forget to enable 2FA which is the biggest mistake of every trader. Use your email to log in only on those devices which are too secure and fully protected from Phishing Attacks. Don’t download anything from Torrent.
- Don’t store your coins in one wallet or device or exchange or address. Use multiple ways to store your coins. Use more than one hardware wallets, many private keys.
- To Protect your Privacy use Wasabi Wallet and Samourai Wallet of Bitcoin.
Not Your Private Keys Not Your Coins
Bitcoinik Suggested Trading Platforms :
Binance – For Altcoins Trading ( Create New Account )
Bitmex – For Marginal Trading ( Create New Account )
