How to Protect Yourself from Crypto Attacks: Safety Tips for Every Holder

Mila Mostovaya

Security Tips
How to Protect Yourself from Crypto Attacks: Safety Tips for Every Holder

Recently, Decrypt Media published a story about a crypto holder — Mitroplus Labs founder Festo Ivaibi from Uganda — who was abducted near his home and forced to transfer crypto worth roughly half a million dollars.

In November, three teenagers kidnapped a Las Vegas man after he hosted a crypto conference. They drove him 60 miles into the Mojave Desert and demanded access to his cryptocurrency. The attackers stole $4 million in digital assets and left him there. Two of the suspects — both 16-year-old residents of Florida — were recently apprehended and now face multiple felony charges, including kidnapping and robbery.

These and many other cases prove that you can become a victim of attackers in real life — not just on the Internet.

If you want to stay safe from crypto-targeted violence and learn how to protect yourself from crypto attacks, especially in the physical world, this article is for you.

Key Takeaways

  • Avoid drawing attention to yourself — follow basic confidentiality rules
  • Set up a fake PIN or a decoy wallet
  • Do not store your crypto devices or backups at home
  • Use wearable panic buttons with GPS tracking

How to Prevent Violent Crypto Attacks

One of the best ways to prevent violent crypto attacks — and avoid crypto-related kidnappings — is to avoid looking like a target.

Privacy-preserving tools can help minimize your digital footprint on the blockchain. For example, the Monero (XMR) cryptocurrency uses stealth addresses and ring signatures to make transactions virtually untraceable.

You can manage Monero in Coin Wallet — simply open the app and select Monero from the list.
Read more in our related articles:

Common Crypto Security Tips

Protecting crypto assets from physical threats starts with following a few simple rules.

1. Use a fake PIN feature

Some crypto wallet safety measures — like a fake PIN or decoy wallet — can be activated in different ways. For example, if scammers demand your PIN code, you can enter a special fake PIN that opens a separate, empty wallet.

In Coin Wallet, you can create multiple wallets and assign an individual PIN to each of them. This makes it harder for attackers to know which wallet actually holds your crypto.

However, if attackers are tracking you online, they may already know you have millions in your account — not just the $50 shown in the decoy wallet.

2. Do not keep your crypto devices or backups at home

You should not keep your crypto devices or wallets at home because it can make you a target for theft. If someone finds out that you store valuable digital assets there, your home could be broken into. It’s safer to use secure, off-site storage or professional custody services to protect your crypto from both physical and online risks.

Protecting crypto assets from physical threats means using secure, off-site storage or professional custody services whenever possible. This helps reduce risk from both physical and online attacks.

3. Use wearable panic buttons with GPS tracking

Compact, wearable panic buttons have been around for quite some time. Originally developed for high-net-worth individuals concerned about personal safety, these devices can also be part of your crypto personal security best practices — especially to help defend against crypto extortion or physical threats.

A panic button can call any phone number and send emergency alerts with your GPS location to selected contacts. Many models also offer two-way communication, allowing real-time conversations with those coming to assist.

The Bottom Line

These crypto personal security best practices can help you protect your assets — but remember, your safety is ultimately your responsibility. No tool or system can offer complete protection. Stay alert, think ahead, and make smart decisions about how and where you store both your crypto and your backup devices.