Sionic fraud prevention expert Gareth Evans summarises Sionic’s top tips for staying safe in the world of crypto investing. His advice forms part of our longer session on “Crypto Fraud – How Safe is Your Money” webinar, hosted by Sionic financial crime prevention specialist Nikhil Gandesha, with expert guest speaker Francisco Jimenez, one of Europe’s foremost experts on crypto crime and a leading force in victim support.
“Regulators and exchanges, Banks and the authorities can certainly all do more to protect investors and prosecute scammers and criminals. And in addition, there are steps that we each of us personally should take to be safer online.”
- Do your own research and proper due diligence – as you would with any other investment. Don’t invest in ‘coins’ because some random stranger on the internet has told you it’s the next big thing.
- Never join telegram groups, click on links in comments on Facebook, or join live stream giveaways.
- Use your common sense. If someone tells you they have a guaranteed return on investment it is almost certainly a scam.
- Store your crypto in a cold wallet. Never reveal your seed word to anyone and keep them safe using pen and paper – never store them on your computer.
- Treat crypto like any other asset and keep it private! Don’t go telling everyone in the local bar how much you have and how much you’ve made.
Read more about Sionic’s expertise in crypto fraud and financial crime prevention:
- A clearer view of US digital asset regulation
- Going somewhere with those crypto assets?
- Regulating Markets in Crypto-assets; How Mighty is MiCA?
- Russia and cryptocurrency
- Real estate and crypto-currency clients: do you really know your customers?