Hi Redditors!
As the world of digital finance continues to evolve, it's essential to stay informed about the risks associated with fraudulent activities. It has been estimated that around $485.6 Billion was lost in Scams & Schemes in 2023 (source - NASDAQ 2024 Global Financial Crime Report). During Scam Awareness Week, we aim to educate users on how to protect themselves from scams and highlight the industry's efforts to create a safer ecosystem.
Follow our socials for more scam awareness tips and be sure to tune in this Thursday November 21st at 1pm ET (18:00 UTC) for a special live stream with Scam-baiter Kitboga and Kraken’s CISO Nick Percoco. Tune in on Kit’s Twitch!
(ICYMI the last time Nick P & Kitboga got together, they got revenge on an extortion scammer. https://www.youtube.com/watch?v=RfgqMVheROA)
There’s a lot of advice out there, here are some practical tips...
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Stay Skeptical
In today’s world, scams are more sophisticated than ever, so staying skeptical is a must. If something seems too good to be true—whether it’s a “prize” you never entered to win or a quick, guaranteed investment return—trust your gut and question it. Scammers often use excitement or urgency to push you into acting fast. Instead of rushing, pause and double-check. Search for reviews, verify contact info independently, and never feel pressured into making a decision on the spot. When it comes to unexpected offers or requests, a little doubt can go a long way in protecting you.
Boost Your Security
Strengthening your digital security doesn’t have to be complicated, but it makes a world of difference. Start with the basics: use strong, unique passwords for each account (a password manager can help!), turn on Two-Factor Authentication (2FA) wherever possible, and update your software regularly to stay protected from vulnerabilities. Check your accounts every so often for any strange activity, and see if your email or usernames have been involved in any data breaches on sites like haveibeenpwned.com. These small steps are like locking your doors online—they make you much harder to target.
Stay Calm
Scammers often play on fear, urgency, or excitement to get you to act without thinking. Whether it’s a supposed “emergency” call from a fake tech support rep, a warning about “suspicious” bank activity, or even a message from a “loved one” needing money urgently, stay calm. Taking a breath and assessing the situation will help you avoid falling for these high-pressure tactics. Think carefully, verify independently, and remember that legitimate companies won’t rush you into decisions. Keeping calm is one of the best ways to see through a scam.
Remain Private
Your personal information is valuable, and scammers are eager to get their hands on it. Be cautious with what you share online—whether it’s on social media, forms, or even email. Only provide sensitive details when you’re sure who you’re dealing with, and verify that they truly need that info. Take a moment to review your privacy settings on apps and limit permissions to only what’s necessary. It’s easier than you might think for scammers to piece together small bits of info to impersonate you or access your accounts, so keeping your details private is essential.
Be Vigilant
Scammers and hackers are always on the lookout for openings, so a little vigilance goes a long way. Double-check URLs and email addresses for minor errors—they’re often a sign of phishing. Don’t open attachments or click on links from unexpected emails, and keep an eye on your accounts for unusual activity. Regularly check if any of your info has been exposed in a data breach (haveibeenpwned.com is a great tool for this) and secure your accounts if needed. Staying vigilant helps you spot red flags early and keeps you one step ahead of potential threats.
We’d like to thank you for taking the time to read these tips—staying informed is half the battle! Keep an eye out for more security themed content on Kraken’s Twitter, Instagram, LinkedIn and TikTok this week. Until then, stay safe out there.
Kraken’s Official Social Channels:
https://x.com/krakenfx
https://www.instagram.com/krakenfx/
https://www.linkedin.com/company/krakenfx/
https://www.tiktok.com/@krakenfx
https://www.youtube.com/@KrakenCryptoExchange
