Security (29)

For most crypto traders, there are few worse scenarios than having your wallet hacked, losing access to your wallet, or having your digital assets stolen. When it happens, many reach out to communities on X, Reddit, or Telegram, asking for support. Although this may seem like a wise first move, it does leave traders vulnerable to crypto recovery scams. Here, the scammer preys on those requesting help by falsely claiming that they can help recover the assets. However, the opposite is true, as the scammer lures victims in to steal funds before disappearing.

Pig butchering scams, which are a relatively new form of fraud in crypto , involve bad actors using the false illusion of romance or friendship to financially defraud their victims. This scam is typically built over a long period, and involves earning trust with the victim to encourage them to deposit their funds in a seemingly legitimate opportunity — before the fraudster disappears.

Crypto remittance scams are a growing concern in the crypto space. These scams deceive individuals into sending crypto or fiat money, with the false promise of receiving a larger sum in return. Like , remittance scams exploit vulnerabilities, using false promises and emotional manipulation. This article outlines what crypto remittance scams are and offers guidance on how to protect yourself.

As the digital world expands, scammers and fraudsters constantly find new ways to exploit unsuspecting victims. At OKX, we know we must stay ahead of the curve for security and to protect our users. T

Romance scams have been around for some time, and now often use crypto as their means of defrauding victims. This is a form of confidence trick that involves a scammer faking romantic intentions with the victim. The aim is to create an emotionally intimate relationship to persuade the victim to hand over their money, digital assets, or personal information.

An unspent transaction output (UTXO) is a vital component of blockchain transactions, especially in Bitcoin . UTXOs are a user's remaining digital assets following a transaction — similar to receiving change in physical cash transactions.

In November 2024, a 12-year old trader made headlines after attempting a crypto rug pull on a memecoin he created, called Gen Z Quant (QUANT), during a live stream. The trader launched QUANT on the popular Solana-based platform . The token quickly gained traction as its price surged. During a live stream, the trader expressed surprise at the growth before dumping his holdings — 51 million QUANT tokens — for 128 Solana (SOL), equivalent to $30,000.Despite his attempts to exit the market, the crypto community rallied behind the token, pushing its price up by an astonishing 77,000%. QUANT briefly reached a market cap of $82.3 million, peaking at $0.08 before retracing to $50 million. Ironically, the trader’s holdings would have been worth $4 million had he not sold them prematurely.

Social engineering scams are on the rise , fueled by widespread social media usage and advancements in tools including AI that allow deceptions to be more convincing. This type of scam relies on criminals exploiting human emotions, whether creating false trust or instilling fear, to encourage an action that allows a scam to happen.

In a separate article, we explore what social engineering is and some common crypto scams that use it to manipulate and defraud crypto users. Understanding what social engineering is raises another important consideration: what to do if you find yourself caught up in such a scam?

 Phala Network is a decentralized cloud computing network built on blockc

*By Sen Xu, U.S. Head of OKX Engineering* US-based tech companies typically place engineering careers onto two distinct tracks – Individual Contributors (ICs) and Managers. The success metric for ICs

What is DYOR? DYOR is the acronym for 'do your own research'. DYOR embodies the individualistic spirit of crypto that encourages each person to conduct their own research to decide when to buy, sell, or hold certain crypto tokens to make sure they're making the right choices based on their trading strategy.

As cryptocurrencies like Bitcoin and Ethereum grow in popularity, so does the sophistication of scams that exploit unsuspecting traders. These scams can involve fraudsters impersonating trusted entities or influential figures in the crypto space to deceive individuals into sending them cryptocurrency, or divulging sensitive information.

Scams have unfortunately emerged as a prominent and persistent challenge in the crypto space as bad actors lurk in the shadows. Backed by advanced technology and tools, these scams have become increasingly sophisticated and harder to identify.

How does a part-time job in the world of crypto sound to you? To many, it's an exciting opportunity to be involved in a technology that's positively disrupting industries. The crypto sector can be thrilling, especially for those passionate about new technology and digital assets who want to merge their interests with a career.

In crypto you'll often hear about counterparty-risks and how Bitcoin was built to mitigate them. But can you explain in simple terms what they are and why they matter? Here's our best shot at explaining it all, with some high-profile historical examples.

Do you want to keep up with the latest cryptocurrency promotions but aren't sure which are legitimate? If so, you're not alone. The increase in crypto promotional scams has become a significant concern. These typically entice traders with the prospect of exclusive airdrops or special offers, often through social media endorsements from influencers or deceptive marketing tactics.

Have you ever been sent a direct message on your preferred social platform, asking you to join an airdrop? Did you later realize that the name seemed suspicious, with a "1" instead of an "i"? These scams artfully blend technology with psychological tactics to exploit the unwary. Common strategies include offering unrealistically high returns on your deposited funds, stealing sensitive personal information for extortion, and creating elaborate phishing schemes that mimic legitimate crypto platforms.

Cryptocurrencies empower us to take charge of our assets, yet this power requires responsible choices. You have many options for managing your digital assets: trusting an exchange, opting for custodial services, or embracing self-custody. In this article, we navigate the landscape of self-custody, providing insights into practical methods for securing and managing your crypto assets independently.

Have you ever wondered why so many people are intrigued by the XMR cryptocurrency? Originating as an integral part of the Monero project, XMR stands out for its commitment to privacy, empowering users to conduct transactions anonymously. This privacy-centric token is built on the robust and innovative technology of the Monero blockchain, which applies cryptographic techniques to shield transaction details.

The key to unlocking access to your digital assets is through your account. That’s why account security equals asset protection. Like protecting capital on a trade using risk management, the highest level of asset protection comes from securing your account. Account security and asset protection is a serious business at OKX as we help monitor, secure, and strengthen your account and assets. But the best security is a partnership, and it starts with the account owner: you.

Social engineering exploits human psychology, turning trust and urgency into vulnerabilities. While technical defenses are vital, true security requires awareness and proactive actions.At OKX, we provide a new alternative by championing education and technology to keep you safe. Here’s how you can protect yourself against social engineering attacks:

Commitment to compliance goes beyond simply following rules — it’s about creating a transparent, safe, and trusted environment for you. Our new alternative and transparent approach to regulatory standards doesn’t just protect your assets, it also creates a platform where you can trade safely. Discover more on . Here’s how our commitment to compliance enhances your experience on OKX and safeguards your crypto assets.

At OKX, platform security is our priority, providing you with a safe and reliable crypto experience. From protecting data to ensuring system resilience, we take multiple steps to shield our platform from threats and protect your crypto assets. With the rise of AI and other forms of technology to strengthen security, we’re bringing you a new alternative to platform security.