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Cryptocurrencies & Asset Protection: Avoid Cryptocurrency Criminals Online And In Real Life

cryptocurrencies and asset protection

Cryptocurrencies & asset protection: Cryptocurrencies have gotten the attention of hackers and cyber criminals from around the world.

Cryptocurrencies and asset protection are seemingly at odds. In the digital world, cryptocurrencies are like the gold rush days in early U.S. history. One had to be very careful about who they told if they found gold. Ill-intentioned people were all-too-ready to take this hard-earned treasure at gunpoint. If you have ventured into this wild world, you must take precautions to protect yourself and your investment.

First Prepare For The Worst Case Scenario

One of the most important protective measures regarding cryptocurrencies and asset protection is pretty standard. It’s the same as with any other asset. You must make sure you designate someone to inherit your crypto-coins in the event of your death. That means having all of your information to access your wallets written down and in a safe place. And to make sure that information is in a will.

Avoid Meeting Sellers Or Buyers Face-To-Face

However, there are also more imminent real life concerns. Don’t take it as a good sign if – when advertising your interest in buying or selling cryptocurrencies – someone asks to meet in person. I recently read about two instances where sellers were held at gunpoint. According to the report, “The victim was to meet with a Bitcoin seller whom he contacted through Craigslist in Crown Heights, Brooklyn. A gun was pointed at him when meeting the “seller.” The seller also demanded $1,100 in Bitcoin be moved to his Bitcoin wallet.

Hackers are busy in the cyber-world. They’re also sophisticated. In fact, all they seem to need are phone numbers. The same article reported, “On August 2016, there was massive case of a Bitcoin hacking wherein a hacker used phone numbers of random people in order to steal Bitcoins from the market as reported on Forbes.” The article also stated, “Such cases alerted the crypto-currency platforms to boost up their security.” But that hardly makes the investment seem safer.

No One Is Immune Not Even Crypto-currency Industry Players

Cyber-currency criminals are hijacking phone numbers and are then able to get all the personal information they need to completely steal identities, change passwords on bank and other financial institution accounts and even email accounts. They re-route everything to their phones using your number! The accounts are none the wiser.

Everyone is at risk in this wild, wild cyber world. This is made clear in a article stating, “A spate of recent hackings of high-profile crypto-currency industry players such as venture capitalists, entrepreneurs, C-level executives and others who have had their phone numbers hijacked, some of whom have also suffered financial losses, several of whom have been threatened or ransomed, and one of whom was put in physical danger.”

Be Hush-Hush About Your Crypto-currency

Many people excitedly invest in cryptocurrencies and brag about how much the value is skyrocketing. That kind of talk tends to invite trouble. Select a trusted individual to safeguard your information. That could be your attorney, a relative or trusted friend. And, once again, make sure you make provisions in the event of sudden or unexpected incapacitation or death.

Cryptocurrencies and asset protection need careful consideration. If you have cryptocurrencies and want to protect those assets and make sure your loved ones can gain access when necessary, call The Estate & Asset Protection Law Firm for a consultation.