In the world of digital transactions come phishing scams. In this article, we'll explain what phishing scams are, how to recognize them, and what you can do to protect yourself and your digital assets.

What is phishing? What are phishing scams?

Phishing is the fraudulent practice of sending emails or text messages purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.

Recognizing phishing scams:

Avast releases new features to stop phishing and online scams | VentureBeat

Scammers will use email or text messages to trick you into giving them your personal information. From these emails or text messages, they may try to steal your passwords, account numbers, or even Social Security numbers.

Scammers will often update their tactics to keep trying new ways to gain access to your information, but there are some signs that will help you recognize a phishing email or a text message:

  • Phishing emails and text messages may look like they’re from a company you know or trust. They may look like they’re from a bank, a credit card company, a social networking site, an online payment website or app, or an online store.

  • Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. Some examples of that are:

    • say they’ve noticed some suspicious activity or log-in attempts

    • claim there’s a problem with your account or your payment information

    • say you must confirm some personal information

    • include a fake invoice

    • want you to click on a link to make a payment

    • say you’re eligible to register for a government refund

How to protect yourself from phishing scams:

Luckily, your email should do much of the heavy lifting by keeping many phishing emails out of your inbox. With that being said, it's always a good idea (and generally good practice) to add extra layers of protection. The Federal Trade Commission provides some key steps to help protect yourself:

  1. Protect your computer by using security software. Set the software to update automatically so it can deal with any new security threats.

  2. Protect your mobile phone by setting software to update automatically. These updates could give you critical protection against security threats.

  3. Protect your accounts by using multi-factor authentication. Some accounts offer extra security by requiring two or more credentials to log in to your account. This is called multi-factor authentication. The additional credentials you need to log in to your account fall into two categories:

    • Something you have — like a passcode you get via an authentication app or a security key.

    • Something you are — like a scan of your fingerprint, your retina, or your face.

    Multi-factor authentication makes it harder for scammers to log in to your accounts if they do get your username and password.

  4. Protect your data by backing it up. Back up your data and make sure those backups aren’t connected to your home network. You can copy your computer files to an external hard drive or cloud storage. Back up the data on your phone, too.

To recap:

Phishing scams are a fraudulent practice that can be damaging to your personal information. You'll want to keep yourself safe and diligent on Nifty's as well as all areas of the internet/digital sphere by taking the necessary protection measures. Remember to keep your eyes peeled for recognizable phishing attacks, and be sure to report those scams to the appropriate authorities outlined in our additional readings below.

For additional information on the risks associated with buying and selling NFTs as related to Nifty's, please be sure to check out our risks article here.

Additional readings:

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