Johan, a 28-year-old crypto trader, experienced every crypto investor’s worst fear—a real-world attack. Carelessly discussing his crypto holdings during a night out made him a target. Days later, he was kidnapped from his home and found himself in an abandoned warehouse, surrounded by masked men. One held pliers; another had his Metamask wallet open on a laptop, demanding his seed phrase.
After enduring three hours of torture, Johan relented and gave up the 12-word recovery phrase. Instantly, over $220,000 in crypto disappeared—his life savings, stolen. The attackers left him physically and financially ruined.
Unfortunately, Johan’s story isn’t unique. Crypto users worldwide are being targeted by criminals who exploit human vulnerabilities.
Here’s how to protect yourself, with Binance’s help:
• Hardware Wallets: Store the majority of your assets offline using a hardware wallet like Ledger or Trezor.
• Two-Factor Authentication (2FA): Enable 2FA through authentication apps or biometrics—avoid SMS-based 2FA.
• Decoy Wallet: Create a decoy wallet with a memorized fake seed phrase to use if forced.
• Discretion: Keep your crypto holdings private. Oversharing online or offline can make you a target.
• Secure Platforms: Use secure, regulated platforms like Binance, which offer advanced security measures and SAFU (Secure Asset Fund for Users) insurance.
Johan’s ordeal is a stark reminder: crypto offers financial freedom, but without proper security, it can cost you everything. Use Binance’s security features to stay smart and secure.
