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Cybercriminals and scammers often create fake websites and social media accounts in order to trick and deceive users into giving up their sensitive information, such as login credentials, or sending funds to fraudulent addresses.

Phishing is a cyber-attack that happens when a cybercriminal or hacker, faking to be a reputable and reliable entity, tricks a user into clicking a file attachment, filling out a form, or clicking a link.

Once hackers or cybercriminals successfully get the information, such as your password, they need, they can illegally get the crypto assets that you own.

As a cryptocurrency user or trader, you should be wary of any unsolicited messages and emails and always verify the authenticity of any account or website before entering your personal information or making a transaction. This is the best way to stay safe.

Cryptocurrency platforms and infrastructure are vulnerable to hacking attacks, which can result in the theft of large amounts of online currency, and you don't want that. Hacking remains one of the main barriers to cryptocurrency adoption worldwide.

Crypto platforms are a major and prime target for hackers, with more than $20 billion stolen in 2022. This is why you should choose platforms with a strong security track record and protocols and consider keeping your cryptocurrency and online assets in hardware storage.

Cybercriminals and malicious actors may use malware to infect computers and mobile devices, such as tablets, and steal cryptocurrency assets or private keys. You should know that crypto-malware is malicious code that cybercriminals and hackers often install on victims' devices.

Once they are successful, it enables them to mine cryptocurrencies, such as Litecoin and Ripple, secretly using their victim's computing power.

Also, ransomware attacks can lock users and traders out of their devices or data, demanding payment in crypto to restore access, which is concerning. This kind of cybercrime is also called 'cryptojacking.' Malware and ransomware are among the biggest threats to crypto users and traders.

There are many simple things that crypto traders and users can do to protect themselves from malware and ransomware. These include:

• Using complicated and strong passwords and 2-factor authentication for all crypto accounts
• Only download files and attachments from trusted and reliable sources
• Being careful and wary of what links you click on in emails and on websites

If you believe your computer or device may have been infected with malware or ransomware, you must take immediate action to protect yourself. You should disconnect your PC from the internet and scan it for malware with a reputable antivirus.

Social engineering attacks are also a concern for traders. These attacks are a type of scam where hackers use psychological or emotional manipulation in order to trick users and traders into giving up their personal and sensitive information or crypto assets. Baiting attacks, for instance, are a common type of social engineering.

These attacks rely on people's curiosity and lure victims in with the promise of a freebie. Criminals carry out social engineering attacks through telephone calls, emails, or even in person.

To mitigate and manage these risks, users, traders, and organizations involved in crypto trading and analysis should follow best cybersecurity practices, such as using strong passwords and two-factor authentication.

Additionally, you should educate yourself on the latest cybersecurity threats and vulnerabilities and stay vigilant for signs of suspicious activity.