Bitcoin scam alert: Do not fall for free Bitcoin hardware wallets!

Ever wanted to get free Bitcoin hardware wallets? Cryptocurrency experts reveal the new Bitcoin scam scheme. Is you Bitcoin wallet safe?

1 February, AtoZForex The participants at different Bitcoin and Blockchain conferences are reporting that they have been receiving fraudulent Bitcoin hardware wallets. Such wallets are imitating the legal products, such as Trezor and Ledger.

Do not fall for free Bitcoin hardware wallets! 

Allegedly, the fraudulent Bitcoin hardware wallets are aiming to steal the funds of the users. The CEO at DeSantis Inc and the ex-technology editor at 21 Inc, Andrew DeSantis mentioned that the 2015 New York Bitcoin conference participants have been provided with free hardware wallets. These wallets have been specifically tailored to steal user’s funds and Bitcoin, according to Mr. DeSantis.

The fraudulent hardware wallets did not have any proper branding. However, many participants were convinced that they were legal. Mr. DeSantis believes that these wallets are essentially a Trojan-based product.

How to protect your Bitcoins?

There are several hardware wallets, such as Trezor, Ledger, and KeepKey. Additionally, it is recommended for users to store large amounts of Bitcoin in this kind of wallets. Market experts believe that it is much safer to keep your Bitcoin in a non-custodial ecosystem, where it is possible to have full control over one’s funds and private keys.

Where you have already decided to keep you cryptocurrency in the legitimate hardware wallet, there is a number of other ways to keep you Bitcoin wallets safe. Amandeep Sonewane, AtoZForex team member explains in details how you can safeguard your Bitcoins from theft.

Moreover, digital currency experts believe that it is vital to evaluate free products given at conferences or even products sold at Bitcoin-related events. It happens very often that when users see a Trezor-looking hardware wallet without having seen the real Trezor wallet, they might fall for it and use the fraudulent wallet to store Bitcoin.

Bitcoin computers

Additionally, Mr. DeSantis has come across false USB miners at a conference in Las Vegas. Specifically, the individuals interested in running Bitcoin computers have received such miners. The scammers are targeting this audience by giving away Bitcoin computers that are aiming to steal users’ funds.

free Bitcoin hardware wallets

To sum up, it is necessary to stress the importance of the reliability of a Bitcoin computer. Moreover, market experts recommend acquiring Bitcoin-related products only via a reliable source. The best way to assure the trustworthiness of the products is to order them directly from the official websites or e-commerce platforms baked by manufacturers.

Trade safe!

Think we missed something? Let us know in the comments section below.

    Share Your Opinion, Write a Comment