Scam Alert: This Whale Lost 1,155 BTC, Here's How to Avoid It

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Scam Alert: This Whale Lost 1,155 BTC, Here's How to Avoid It
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One of biggest heists in 2024: What should have been done

is obviously not having it in the first place. But if you are the lucky owner of a large chunk of crypto, safety should be your main priority. This whale, unfortunately, was not as cautious as they should haveOn the evening of May 3, Beijing time, a whale mistakenly transferred 1,155 BTC to a phishing wallet address, worth about $71 million at the time. This significant loss serves as a stark reminder of the importance of security in the crypto world.

If you suspect your private key or mnemonic phrase is compromised, replace them immediately and transfer your assets. Store transfer addresses in an address book with notes and avoid copying addresses temporarily. Always perform small test transfers and confirm success with the recipient before For large transfers, consider splitting them into multiple smaller transactions. Avoid clicking on transfer links or online transactions sent by others, and always verify links and addresses independently. For larger fund management, consider using multi-signature methods to add an extra layer of security.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.

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