How to keep your crypto safe!

It’s been another turbulent day for the cryptocurrency markets – luckily you’ve got Cpt. Blurtl here to navigate the storm and deliver us to our destination safely.

Where are we going? The moon of course!

Buckle up, because we’ve got an aromatic blend of crypto news to keep you safe and informed so we can all weather the storm.

WHAT’S HAPPENING TODAY

• SIM swaps on the rise: how to keep your crypto assets safe

• The “Dogecoin millionaire” who’s still bullish despite huge losses

• Miami mayor Francis Suarez vows to take salary partially in Bitcoin if elected president

Are you at risk of being SIM swapped?

If you’re using your mobile phone number for two-factor authentication then there’s a high likelihood you’re at risk of being SIM swapped.

For those of you that are unaware, a SIM swap scam is basically when a nefarious individual gets a hold of your SIM card without your permission and uses it to access your account. It could be your email account, it could be your bank account or it could even be a crypto exchange. If you have your mobile phone number as your method of two-factor authentication – you aren’t safe!

The way in which they gain access to your SIM card is typically through a method known as social engineering. The hacker will call up your telco pretending to be you, and request a new SIM card be sent to them. The only line of defence is the support worker who answers the phone, and unfortunately it has been the case many times that telcos have sent SIM cards to people other than the account holder.

How can you prevent being SIM swapped?

Before we get onto how you can avoid being SIM swapped, the best measure of defence is to use authenticator apps like Google’s authenticator instead of your mobile phone number.

There are plenty of options on the market including Raivo (for iOS) and Aegis (for Android) and these provide an even higher level of security. However, if you insist on using your mobile phone number as your only line of defence – most telcos will allow you to set up a pin code that is required for a new SIM card to be requested. If you want an even further layer of security you can ask them to add a note to your account that requests they only give you a SIM card if you go to a store in person.

Dogecoin investor still HODLing despite losing over $2 million

At its peak, Dogecoin was valued at $0.74 – this meant that “Dogecoin millionaire” Glauber Contessoto holdings were worth $2.9 million at the all-time-high.

Since then his holdings have dwindled down to a measly $50K with $DOGE now trading at just above six cents. Despite his loss, Cotessoto still has faith in Dogecoin and plans to continue holding for the meantime.

Although some people might think he’s crazy, Glauber insists he has faith in the project and intends to see it out until the next cycle comes around. We’re not exactly sure how he’s able to sleep at night, but then again, he was able to hold his coins all the way from around three cents to $0.74.

Perhaps he’s just built different.

Miami mayor wants to be paid in Bitcoin

Miami's Mayor and GOP presidential hopeful, Francis Suarez, has declared his openness to accepting Bitcoin as part of his presidential salary, echoing his practice as mayor. Suarez supports crypto for its role in preserving freedom and curbing a politically skewed monetary system. He lauds blockchain and fractionalized investments, noting their potential to narrow the wealth gap.

This move aligns him with other candidates who have embraced cryptocurrencies, like Robert Kennedy Jr. and Ron DeSantis. In contrast, incumbents like Joe Biden and ex-president Donald Trump have been critical of crypto. Suarez emphasizes the need for meaningful engagement beyond just opposing Central Bank Digital Currencies (CBDCs).

MOTD (Meme Of The Day)

– blurtl