The Giant blockchain, Giant.Exchange and Giant.Bet are connected to financial operations one way or another. Possibly, you will be the one to gain dramatic profits on betting. This material is dedicated to an extremely important issue of your funds security. The Giant founders will not be able to help if you already lost your funds - the impossibility of financial transaction cancellation is a necessary evil for cryptocurrencies.
You should always be ready to receive messages which at a first glance look authentic, but in reality, phishers are just trying to steal your money by requesting a certain sum. No matter how convincing these sudden messages may look, it’s always better to contact us for consultation. There have been successful hacking attempts when the imposters were posing as respected banks, and the cryptocurrency sphere is no different in this regard. Another example is hacking the social media accounts with a large number of followers to attract attention towards scams like the recent event with Pathe’s.
The Giant wallet client installed on your computer may potentially become the target of miscreants through various programs that allow to gain control over your device. Hackers will simply transfer all your funds to their wallets after intercepting it. But to do so, they first must persuade you to launch the malicious software and here’s where your paranoia may actually prove handy. Avoid all suspicious executable files you stumble upon. In case of doubts, use your antivirus programs or VirusTotal .
Another popular method of cryptocurrency theft is creating a platform which does not provide brokerage services at all. In the case with Giant, there is a possibility of copycat websites when Giant.Exchange and/or Giant.Bet are released. Always double-check the URL in the links you have received.
The list of platforms which provide assistance for Giant users is always up-to-date on our Discord. Contact us in case you see anyone else claiming they can store Giant Coin - this might be another scam and your timely report may save someone’s money.
Electrum Pro is a good illustration of this fraud scheme: the application closely resembling the real Electrum Bitcoin wallet has intercepted the private keys of this cryptocurrency holders.
Let’s say that you have a large amount of Giant Coins and has disclosed this information online, for example, in a blog post. This might not necessarily result in financial losses although it will attract criminals towards you. With all previous fraud schemes still relevant, they might also try to offer you a seemingly-beneficial deal, for instance, sell you funds for a price larger than the current average values. With a high probability, this is a red flag of scammers and it would be a prudent decision to decline the offer. There is no guarantee of funds returning.
Even the cryptocurrency millionaires fall for this trick, as evidenced by the August story of a wealthy Finnish investor Aarni Otava Saarimaa who genuinely thought he was going to make a fortune on a fake ‘Dragon Coin’ and a new casino. In the end, he lost 5,564.4 or approximately $35 million at the time.
In another possible scenario, you may increase the hackers’ luck by making your account passwords same on different platforms. They might not have even been targeting your cryptocurrency possessions but in case your social media, banking and cryptocurrency exchange passwords match, all of them become compromised even if only one account is hacked. In a way, you share your personal data with strangers once again. The natural recommendation is to make your passwords different everywhere and change them on a monthly basis. Please note that this is relevant only for centralized cryptocurrency exchanges and similar services — in case with the Giant wallet software, generated private keys are used.
Recently, there has been a peculiar story circulating in the cryptocurrency community. An unknown hacker or a group of criminals has used a dumpwallet command to get the private keys of a prominent investor who lost over 20 masternodes after making a mistake to trust this message.
The dumpwallet command is not inherently bad: it can prove handy when you are moving from one computer to another. In this case, however, the command has become a weapon of electronic money thieves. There can be other similar commands depending from cryptocurrency to cryptocurrency. Among them are commands such as dumpprivkey, exportzerocoins, getzpivseed, or masternodeprivkey. And it’s always better to ask on the forum of investors and/or the coin developers than to lose it all.
The *.dat files within the client software of you wallet may compromise it if shared online. Nobody, including the Giant administrators, has the right to ask for your *.dat files (e.g. wallet.dat) and/or private keys which allow to gain control over your funds. Just like it was in the previous topic, these files are not dangerous but may be exploited by hackers in case you trust their messages. Do not replace these files under any circumstances.
Never delete these files under any circumstances, as they contain all the data on your wallet. But what you should do, however, is to make a secure reserve copy of them. Make sure that they are not accessible to anyone except you.
There is also another way to counter the efforts of financial con artists: regularly read news on this topic. When you become aware of a new fraud scheme, your funds are becoming more secure because nobody would be able to fool you like this anymore. In this material, we’ve described the most common cases - who knows what may appear in the future?
This material presents only a set of hacker tools, but you must understand that fraudsters are constantly evolving, and so do their methods. Always pay attention to suspicious messages and question their credibility online - your vigilance is the best defence against hackers in the majority of cases based on social engineering.
Representational photo from IE