Hacks and Scams: Navigate Web 3 With Caution

Every voice calls your name but you are trying to figure out which one of the voices is real, which one of them will you answer? Which one of them means good to you? It's difficult to figure out, init? That's exactly how life in the Web 3 space feels, so many people are coming out with different offers and projects that seem so real that sometimes, it's really difficult to figure out which one of them is legit.

I have been there, especially for someone like me who has little experience with the Web 3 space. I love everything about Web 3 but I have no knowledge about it and because of this, it will be easier to fall for such fake people though I thank God that I haven't fallen victim and I pray it should never happen because enn! I will cry myself a river that day 😂

Tell us about the sort of scams and hacks that happen in Web3?

This month thinkers corner by @kenechukwu97 really got me thinking around the corner 😂 plus someone like me that is a newbie into the Web 3 space. Writing about this prompt gave me more understanding of what I am about to deal with.

Oh well, Web 3 is crowded with so many hacks and scams some of which are;

1. Airdrop Scam - I heard about this airdrop here, airdrop there recently, and it was because of my interest in Web 3 space. I for once didn't know exactly what it is but all I know is that when it comes you can trade it for money 😂 correct me if I am wrong.
I know of a sure that there are fake airdrops out there because we are too many 😀
Scammers usually create airdrops that require you to connect your wallet or send a little token before you can benefit from whatever they are promising to give. Immediately you fall for it, they will take from you without you seeing anything.

2. Phishing - this one is very common, you get to see so many websites or malicious links promising you some good deals if you click on it but once you enter your wallet, seed phrase or private keys, it becomes a story for the gods. You no longer have access to your wallet which is really heartbroken, (permit me to that word).

3. Rug bulls - Hehe! This one is even more promising than phishing. Scammers or should I call them developers instead 😀 they create promising projects or tokens with high returns that no investor can resist and if you dare fall for it, they will withdraw all the liquidity leaving you with nothing.

What are the best ways to avoid being victim of this hackers and scammers?

The level at which these hackers and scammers are increasing everyday, one needs to be extra careful walking around the Web 3 space. And being careful here means following some steps or acting ahead of the scammers.
How do you do that?

• Don't share your wallet, seed phrase or private keys to just anyone. Aside from that, where are you saving them? Is it safe enough? Sometimes, hackers can break in and take whatever they want so just keep them safe.

• Make your own research; Don't just rush into clicking and visiting anyhow website. Verify and know their legitimacy.

• Stay awake,you know sometimes; it's because you are not aware that makes things happen to you. That's why they said knowledge is power. Always stay up to date with the latest news whether it's about hackers or scammers so that when it comes at you, you already know what it is, and you are prepared already.

The most important thing is to be cautious.

Thank you for stopping by ☺️

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