From Investing.com: 2024-05-16 14:30:23

A whale lost 1,155 BTC worth $71 million in a phishing scam due to a hacker’s clever tactics and monitoring of blockchain activity. The attack was likely organized and used automated scripts, highlighting the need for enhanced security measures in the crypto world.

To protect digital assets, store private keys and mnemonic phrases offline, use hardware wallets, and avoid copying addresses temporarily. Conduct small test transfers, verify links independently, and consider multi-signature methods for added security when managing large fund transfers.

Ensure security by creating private keys and mnemonic phrases offline, using hardware wallets, and verifying links independently. Protect against phishing scams, conduct test transfers, and consider multi-signature methods to safeguard your digital assets effectively.

Read more at Investing.com: This Whale Lost 1,155 BTC, Here’s How to Avoid It By U.Today