The crypto world can be a dangerous place if you don’t take good care of where you store your personal information.
Just recently at MyCryptoSaver we had an instance where one of our new users was not who they appeared to be. We will give you a breakdown of what happened to show you how your money can be stolen if you are not careful.
To register with MyCryptoSaver you need to verify yourself with a government i.d. and proof of address. Most people get their utility bills emailed to them which means that if a hacker gets into your email account they have a proof of address document ready. Furthermore if you are signing up to multiple exchanges or you are registering for other services that require you to email through your personal details including drivers license photos, these too can be seen by someone that has hacked into your email address.
We believe this is what happened with this fraud incident by one of our users. They signed up to our site and verified themselves with all the right details including a full name, address, drivers licence photo and proof of address. However the actual owner of that information wasn’t aware of this.
Furthermore, somehow the owner of this information had his online banking details compromised too. We don’t know how this happened, perhaps he may have been storing them in the same location as his other personal information.
Suffice to say, the hacker made a few payments out of his account to us which we processed. It was only after the actual owner of the personal information talked to the bank who talked to us that the account was quickly closed and luckily not much money was taken.
Although this is quite an extreme example of what can happen it shows you the lengths hackers will go to steal your money.
Please always take great care of where you keep your personal information and as per our previous blog, always have a strong password or even 2fa on your email account.