50% of SMBs Hacked: 5 Ways to Keep Your Company Secure

Headlines now and again features stories about major corporations getting hacked. According to new surveys, not only large corporations but SMBs or small and medium businesses run a substantial risk for hacking. It is estimated that 50% of all SMBs suffer from malware attacks. Perhaps more upsetting is that of these companies that experience data breaches, 50% go out of business within 6 months after the attack occurred. 

This demonstrates the destructive effect hacking has on companies and customers who have their data compromised. Individuals who in their own lives take extensive precautions to avoid cyber threats may be the target of identity theft simply for doing business with a company that was hacked. The effect of this is that a company may lose loyal customers and suffer from a PR disaster. 

Whether it is hacking, a malware attack or a crypto scam, or forex trading scam, it is important to file a complaint and notify authorities of the problem immediately so they can track down the people behind the hacking. Additionally, using the services of a fund recovery company can help you recoup the losses following a security breach and help you and your clients retrieve your funds. 

CryptoComplaint experts provide consumers with information about financial services and can assist people who have been affected by the hacking, identity theft, CFD scams, crypto scams, forex trading scams, and other forms of financial fraud. Our team has the resources to assist with crypto complaints and can provide guidance to consumers and get them started on the fund recovery process. 

Methods Hackers Use to Attack SMBs

There are many ways cybercriminals attack companies. The following include:

  • Mass spam emails
  • Spear Phishing
  • Social engineering and impersonation
  • Calls and low tech methods

Many hackers work on a massive scale. They send out messages to as many recipients as possible and hope that someone will click on a link or download a document laced with malware or spyware. Hackers have become more sophisticated through the year in their hacking methods. The Nigerian prince fraud is a famous example of an obvious fraud that unfortunately many people fell for. 

Now, hackers will be more likely to create convincing decoys of emails from established companies such as Microsft or Google. The logo may look exact and the tone is professional and believable. They will tell the recipient that they need to verify account details or for some information about something. 

The email will feature a link or something to download. Once the recipient takes this action, malware or a virus will find its way into the computer or device. Through malware or spyware, the hackers can gain access to accounts and the network. 

Even if the emails appear to be convincing, many people do not click on the links because they can sense that this is a mass mailing campaign and not targeted to them directly. When attempting to sabotage and steal data or money from a company, hackers may be more likely to try spear-phishing tactics, or targeting certain employees directly, particularly those who have more access to data or accounts. 

In a spear-phishing attack, the hacker will use social engineering to impersonate someone from the IT department or a manager with a special request for detailed customer data or to gain access to the employee’s device. When this is granted, the device is vulnerable as is the network and the data is compromised. 

Since so many people are worried about cybercrime, some hackers have realized one easy way to throw people off track is to call them. Cold calls from someone pretending to be a technician are common and even savvy employees are easily fooled because they expected scammers to try to trick them online rather than on the phone. 

Don’t think that criminals are above going through the trash to find account information. If they know where the company is located, they may go through the recycling bin. Shred all sensitive paper documents before disposing of them. In our digital world, we often overlook how much information about ourselves is still on paper that is casually discarded. 

5 Ways to Keep Your Company Safe From Hacking

  1. Install and upgrade anti-virus software
  2. Verify all requests for sensitive information
  3. Look at details such as the domain name of emails
  4. Require two-step verification
  5. Ensure Best security practices are enforced throughout the company

Installing and upgrading anti-virus software and ensuring that all other employees of the company do the same, is the best way to avoid malware and spyware. Even if hackers manage to get past the network, advanced cybersecurity software will detect and prevent a malware attack immediately. Software is a safety net for when best practices are not used properly or if there is some mistake. 

Do not automatically comply with requests for sensitive information, even if the communication seems to be from within the company. Always call, ask for an email or communicate with a manager to determine the authenticity of requests for client data or access to networks and devices.

Be aware that hackers can make communication look as if it was sent by someone you know. In that case, look for subtle differences, such as a fishy domain name on an email or unusual phrasing, if you have received communication from that department in the past. A two-step identification requirement is always a good idea to protect against stolen passwords. 

Creating best practices for your company to avoid cybercrime is an excellent way of protecting your funds and your customers’ data. Ensure everyone in the company adopts these best practices and incorporates them in their daily tasks. 

Prevention may not be foolproof, but it can improve your company’s security. If in spite of everything, your company’s data is breached, it is essential to report the incident immediately. Time is of the essence also with regard to fund recovery. Working with a fund recovery company can greatly improve your company’s ability to bounce back from a data breach. 

Has Your Company Been Affected by Hacking? Talk to CryptoComplaint Experts

Consult with CryptoComplaint experts immediately if your company has been hacked or if you have been the victim of identity theft, crypto scams, or forex scams. Our team can provide solutions and advice on how to seek restitution and recover from fraud. 


Questions Over DeFi100 Highlight Crypto Scam Anxieties

So is DeFi100 a scam that robbed investors of $23 million or a victim of a hacking scam perpetrated by malevolent parties that wanted to see the cryptocurrency fail? 

The questions arising from a cryptic message on DeFi100’s website in May 2021 express the anxiety over cryptocurrencies, the fear of crypto scams and hacking, and partly signals why digital currencies are so volatile. 

Although internet scams are not new, crypto scams are outstripping even forex trading scams in amount and scale. In some cases, it can be difficult to determine whether a cryptocurrency opportunity is legitimate or a crypto scam. If you have been affected by a crypto scam, it is important to file a complaint immediately and to seek guidance from Cryptocointrace. 

Cryptocointrace experts can provide you with assistance if you have been affected by a scam. Our team of researchers knows what to look for when investigating frauds. We can provide you with information and guidance through our intelligence reports that will help you get results. Contact our Cryptocointrace professionals today for a consultation. 

What Is DeFi100 and What Happened to its Website? 

DeFi100 is a cryptocurrency built on the Binance chain. Its name stands for decentralized finance. It is one of the many thousands of cryptocurrencies on the market. As of late May 2021, there is still uncertainty over whether the DeFi100 is a scam or if its website has been hacked. Authorities are still investigating the matter. 

The controversy started on May 23, when, according to Yahoo News, a message appeared on its website telling investors they had been scammed and there was “nothing you can do about it.” The message then disappeared. The people behind the DeFi100 cryptocurrency tweeted that their website was hacked. The value of the cryptocurrency declined 25% in just a few hours as a result. 

One anonymous analyst on Twitter with 197,000 followers estimated the losses at $32 million. There are still some who do not believe the site was hacked and suspect the company is a scam that ran off with millions in investor funds. While the case is being examined, it is not certain which is the answer. However, the questions raised by this bizarre incident point out many issues with cryptocurrencies in the current environment. 

What Does the DeFi100 Incident Say About Cryptocurrencies? 

The incident with DeFi100, no matter the result, speaks volumes about the issue of cryptocurrencies and crypto scams. Whether DeFi100 turns out to be a scam or a legit cryptocurrency that was a victim of hacking, it is clear that the uncertainty over the issue points out why this asset class is so volatile and so vulnerable to fraud and cyber-attack. 

The fact that it is uncertain whether the DeFi100 is legitimate or fake demonstrates the ambiguity of this type of investment. It is very easy for people to conceal their identities behind companies, introduce an ICO, and gain investors and coin holders. 

One day, they can just run off with all of the money and disappear, since transactions on the blockchain are anonymous. The whole mechanism of cryptocurrencies seems to function through various black boxes and it is hard to know exactly who is doing what at any given time. 

If DeFi100 is the victim of a malicious hack by competitors or cybercriminals, it demonstrates how vulnerable purely digital assets are. If hackers can gain access to a website and post a phony message, they can also get a hold of users’ and investors’ coins. It shows that even if the DeFi100 users and investors are not the targets of a crypto scam, they could have their data compromised by a site hack. 

If DeFi100 is a crypto scam, it could claim that it can’t release funds because they were stolen or the hackers changed the information and locked everyone out of their accounts. It is impossible to know what happened, and without investigators, consumers must take the company’s word for it. There is no need to provide proof–they can just tweet out their version of the story and people will believe it until authorities get involved. 

Are Cryptocurrencies Safe? 

Between the inherent volatility of cryptocurrencies, crypto scams, and hacking, consumers may wonder if digital currencies are worth it. The answer is it all depends on how risk-averse the consumer is. Given all of these potential dangers, those who want to use or trade cryptocurrencies should start small and gradually build up their supply as they become familiar with them. 

People tend to get hurt using or trading cryptocurrencies when they rush in too quickly not knowing very much about them. Crypto scams encourage a kind of haste and they do not offer transparency about what cryptocurrencies are and how the blockchain works. Going gradually, learning more about digital currencies, doing your due diligence, and researching people behind ICOs as well as regulated brokers are ways to stay safer with cryptocurrencies. 

Signs of a Crypto Scam

You will reduce your risk of being a target of a crypto scam if you research the deal or the currency and start small. Here are some signs of a crypto scam that you should avoid: 

  • Deals are offered on social media rather than on an official ICO platform or through a regulated broker
  • Lack of transparency
  • Encourages haste
  • It is not clear who is behind the deal or the coin
  • There is no real website or white paper
  • Gives extravagant promises of huge returns
  • Will not release funds
  • Does not communicate or disappears. 

How to Protect Yourself Against Crypto Scams

To protect yourself against crypto scams, do your research. Work only with a regulated broker or a licensed exchange. Expect volatility. Even in the best scenario, cryptocurrencies fluctuate widely in value. You could lose or gain money quickly. Take gains and do not use the money you can’t afford to lose in cryptocurrency deals. 

It may be tempting to take a chance in that deal that promises to be once-in-a-lifetime or that investment that is supposed to yield huge returns. However, cryptocurrencies have been around since 2008 and have had their ups and downs. They will be with us for much longer and there is always time to research a deal and choose one that will provide value. Reacting to anonymous claims, however, can put you in the path of a crypto scam.  

Have You Been Affected by a Crypto Scam? Talk to Cryptocointrace Professionals! 

If you have lost money from a crypto scam or forex trading scam talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of financial services and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute.


What We Can Learn from the Elon Musk SNL Crypto Scam

It sounds like an SNL skit, but it isn’t funny for the would-be investors who were robbed over $2 million. During a much-anticipated SNL appearance byTesla CEO billionaire Elon Musk, cybercriminals pretending to be him offered fake giveaways on social media. All participants had to do was send him some cryptocurrency. The result was a high-profile crypto scam

Unfortunately, many fans of SNL, Elon Musk, and cryptocurrencies took the bait and sent money in the form of cryptocurrency, believing claims they would get up to tenfold returns on the initial amount. The total reported losses were $2 million, but it is estimated that there may have been over $5 million lost. This is not surprising, since many people who are victims of forex trading scams and crypto scams do not report, which is a mistake. 

It is important to report forex trading scams, crypto scams, or any other type of fraud. This is the only way authorities can catch the cybercriminals, prevent them from striking again, and start the fund recovery process.

Cryptocointrace experts can provide you with assistance if you have been affected by a scam. Our team of researchers knows what to look for when investigating frauds. We can provide you with information and guidance through our intelligence reports that will help you get results. Contact our Cryptocointrace professionals today for a consultation. 

What Happened With the SNL Elon Musk Crypto Scam? 

Basically, people thought that Elon Musk, who was appearing on SNL, initiated a promotion for viewers through social media. There were various deals, some promising to return ten times the original amount of cryptocurrency participants would send. 

Even though the mechanism of the deals were not explained, including when the return for the initial funds would arrive and why something that was supposed to be a giveaway was asking for crypto coins in the first place, many people sent money to various addresses online. 

The amount of between $2 million to $5 million in losses may seem modest except when taking into account this occurred during the screening of SNL, a show which is typically just 90 minutes long. Now, many of the victims are asking the FTC to help them with fund recovery. However, it is assumed there are many more victims who will not come forward. 

Why Elon Musk? 

Elon Musk, at least until very recently, has been an outspoken proponent of cryptocurrencies. His $1.5 billion investment in bitcoin in early spring 2021 led to a rally in the value of bitcoin and a scramble among consumers to get in on the next cryptocurrency deals. 

However, as high-profile figures such as Bill Maher criticized cryptocurrencies for using up significant amounts of electricity and not being as green as once supposed, Elon Musk announced that bitcoin would not be used as payment at his company Tesla. As a result, bitcoin fell below its $50,000 support level just 24 hours after the announcement. 

Elon Musk has proven he can single-handedly move the cryptocurrency market. However, it is clear that those who were targets of the SNL social media crypto scam had not gotten the memo on Elon Musk’s change of position on bitcoin or perhaps they believed he was changing his mind again, was now open to accepting cryptocurrency, and they wanted to be the first to get in on another huge Musk-led crypto coin market move. 

How Is the Musk SNL Crypto Scam Like Other Celebrity Social Media Crypto Scams?

Unfortunately, this isn’t the first and won’t be the last celebrity social media crypto scam. Early in 2021, a 17-year-old hacker accessed the actual accounts of Bill Gates and Barack Obama with a promise to match those donations given through cryptocurrency. 

The 17-year-old hacker was caught, but cybercriminals find they can make millions without having to hack into actual accounts. It is relatively easy to create convincing decoy celebrity accounts. The Musk SNL appearance provided a perfect storm for crypto fraudsters capitalizing on the popularity of Musk in general and the buzz over his SNL appearance specifically. 

Also, these social media crypto scams often create a false sense of haste. This is so they can get the money and disappear fast. Designing the scam around the run of the SNL show meant that the scammers could make millions in just over an hour. 

How to Avoid Social Media Crypto Scams

The best way to avoid social media crypto scams is never to trade, invest or participate in any giveaways on social media. Twitter, Facebook, and Instagram are great places to trade recipes and photos of pets. Do not believe in any money-making schemes advertised on social media. If you want to trade, find a regulated broker. 

Another tip is to use cryptocurrency with care. Although digital currency is exciting, it does carry certain danger, since it is not managed through government regulations and transactions are anonymous. Avoid making payments in cryptocurrencies unless you have fully validated the identity of the other party. 

Also, use your logic. The first question anyone should have asked in the SNL Elon Musk scandal is why do people need to give money in the first place? If Elon Musk wants to give people money, he should just do it. Is this a trade? What is being traded? How does it work? Is there a website explaining this? Lack of transparency and an exaggerated sense of haste are hallmarks of forex trading scams and crypto social media scams. 

What to Do If you Have Lost Money in a Social Media Crypto Scam

Do not be shy about reporting any kind of fraud. This goes for a forex scam or a social media crypto scam. Many people are too embarrassed to admit they were cheated or feel that fund recovery is a long shot. However, filing a complaint is the responsible and smart thing to do. 

Have You Been Affected by a Crypto Scam? Talk to Cryptocointrace Professionals! 

If you have lost money of a crypto scam or forex trading scam talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of financial services and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute. 


What the SafeMoon Controversy Says about Today’s ICOs

Is Safemoon not only safe but a gamechanger in wealth creation? Or is it just pie in the sky or a Ponzi scheme? 

Making decisions about new cryptocurrencies can be agonizing, or just part of the fun and the thrill of high-risk new financial products. Some view ICOs with the same suspicion as forex trading scams. Others see them as not only the future of money but the salvation of those seeking fast, reliable transactions and investments. 

What Is SafeMoon?

SafeMoon is a cryptocurrency that premiered on March 8, 2021, and rose 3,000% in the first 60 days since it hit the market. It promises a huge return for investors and holders of the cryptocurrency through using unconventional methods, such as raising demand by destroying its own currency. 

Significant controversy has erupted over SafeMoon not only on social media platforms such as Twitter, with contentious voices on both sides, but among cryptocurrency experts. Some hail SafeMoon as a game-changing cryptocurrency while others allege it is nothing more than a Ponzi scheme and are distrustful of its strategies and claims. 

SafemMoon is part of the Binance Smart Chain. It was introduced through a fair launch, which means that no investors were allowed to get in on the deal prior to the start date. In a move that raised eyebrows, those behind SafeMoon burned all of the currency held by developers to increase the sense that the SafeMoon is “fair” and to artificially increase demand by destroying supply. 

Another controversial strategy is that it encourages people to keep holding the coin by penalizing those who sell with a hefty 10% fee, according to SafeMoon’s White Paper. Of this 10%, 5% enters a liquidity pool that is kept for emergencies and 5% is distributed among holders as a reward. 

What SafeMoon Fans Say

As with many trends, those who are fans of SafeMoon love it. Some SafeMoon fans on Twitter boast they have their entire retirement savings in SafeMoon currency. Although critics think of SafeMoon’s strategies as aggressive and even manipulative, those who hold this currency believe it is pure brilliance. 

By destroying extra currency, punishing sellers, and rewarding holders, many feel that this crypto coin is bound to be a winner and point to its rapid rise in a short period of time. 

What SafeMoon Critics Say

Some see SafeMoon’s strategies, which seem at first glance like a foolproof way to create value as a one-way ticket to perpetual volatility. While it is true SafeMoon saw a substantial rise, it is worth noting that trading volume is falling, indicating depleting interest in the cryptocurrency.

By burning around 40% of its coins, SafeMoon might have shot itself in the foot, there are few coins left to trade and investors are losing interest. The liquidity pool is meant to curb volatility, and yet it is being diverted to other projects. 

Other critics are off-put by SafeMoon’s aggressive tone on social media, and criticizing anyone who raises questions about their tactics as “haters.” Those who are skeptical of SafeMoon feel it represents the Wild Wild West mentality of cryptocurrency. 

There must be a reason why central banks haven’t torched stacks of their currency to raise the value of their money, and SafeMoon may discover why this is a bad idea. Some predict the floor will fall out from under SafeMoon soon, whereas others believe it will rise to new heights. 

How SafeMoon is Like and Unlike Other ICOs

Even those who criticize SafeMoon must admit that it has been highly successful so far. This puts it in the vast minority of ICOs that actually succeed. Of all the ICOs that come on the market, only single-digit percentages of them succeed and few gain as many followers, holders, and fans as SafeMoon. 

Also, unlike the majority of ICOs, SafeMoon doesn’t appear to be a scam. According to Investopedia, 80% of ICOs are nothing more than crypto scams. Some people may allege that SafeMoon is a Ponzi scheme but at least it had what seems to be a legitimate ICO with real investors. The majority of these deals are enacted purely on social media rather than through a real ICO and those behind the fraud take the money and run. 

However, if SafeMoon does turn out the scam, it would not be the first of its type to begin as a legitimate-seeming ICO. What SafeMoon has in common with other ICOs is that it is hard to tell whether it is for real or fake and even harder to determine if investors will make money or not in the long run. 

Tips for Investing Safely in ICOs

The jury still seems to be out on SafeMoon, with experts on both sides divided regarding its legitimacy and future. The one thing that is for certain is that ICOs certainly involve risk both for the investors and those behind the deal. In addition, it is important to take certain steps to avoid crypto scams. Here are some tips to keep in mind: 

  • Only invest in an ICO through an official ICO platform, never through social media
  • Research the credentials of those behind the deal
  • Invest in ICOs through other payment methods than cryptocurrency
  • Peruse the website and whitepaper (if there is no whitepaper or website stay away)
  • Only invest money you can afford to lose–never college or retirement funds!

ICO scams are catching up with forex trading scams and other types of fraud in the number of complaints. It is important to report crypto scams to authorities and seek guidance for beginning the fund recovery process. 

If You Have Been Affected by a Crypto Scam, Talk to Cryptocointrace Professionals! 

If you have lost money to a crypto scam, talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of scams and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute.