Fake sites can install malware on investor's devices or steal login details. Before investing or registering on any crypto platform, it is important to do your research. Sites like Luno are protected from hacking and leakage, according to Kaspersky. Website spoofing is one of the most popular phishing methods. Before entering your login details, make sure you check the URLs of cryptocurrency exchanges and wallets.
CoinSwitch Kuber, an Indian cryptocurrency exchange site, also offers warning features that alert users when they purchase volatile or unknown crypto currencies. WazirX, CoinDCX are two other popular platforms.
Scammers may send fraudulent transaction notifications to users by forging senders' addresses and making the message appear real. You should never trust any links they send to you regarding payment errors, crypto or any other related matter. Avoid using the same passwords for every crypto service. Avoid people who contact you via social media or any other platform promising big returns. Kaspersky states that "malicious social manipulation" refers to messages sent via social media and which may encourage you to take up offers from impostor accounts.
Scammers can also make fake ads to redirect people towards phishing websites that look similar to official crypto exchange sites. Although there are no guarantees, it is better to visit the official website than any other source.
You can prevent such incidents from happening by ensuring that your internet-connected devices, systems, and networks are protected. Kaspersky stated that this and your personal vigilance regarding how your digital assets are used or maintained, is essential.