Is MyMonero safe?

Much like any banking service, all cryptocurrency wallets carry a certain level of risk. The risks are low, but not nil. Blockchain technology is very difficult to hack. Your main hacking risk lies in where you are storing your personal information, such as your passwords. There are also risks in the manner in which you make your transactions.

We aim to educate our users on the safest way to use our MyMonero wallet and to give you the best and safest experience possible.

  • Phishing

Can hackers gain access to your device or system?

Cybercriminals use phishing to manipulate people into taking unsafe actions, which can make their personal information vulnerable.

Attackers can use deceptive communications - such as emails, instant messages, SMS, and websites to impersonate a trustworthy person or organization.

If you click on a malicious link, this could potentially download malware onto your device and make sensitive, personal information vulnerable to hackers.

What is the best defense against phishing?:

  1. Enter personal information only on secure websites

  2. Delete suspicious emails, and do not click on any links within them

  3. Check correctness of email addresses that you receive emails from

  4. Keep your browser up to date

  5. Up to date operating system and security patch

  6. Use antivirus software

  7. Use web application firewall

  8. Data encryption

  9. Install an anti-phishing toolbar

  10. Keep yourself up to date with phishing techniques, viruses, trojans, spyware, adware and other sorts of malware

  • The dangers of Copy and Paste

Since CyberCriminals have the ability to hack into your devices via phishing, they are able to hack into your clipboard. Things that you copy and paste on your device become vulnerable to hackers. It is for this reason that we don’t suggest that our users copy and paste their Mnemonic Seed onto their devices. Most hackers would do this type of hack at random, and so no matter how much XMR you have loaded onto your MyMonero wallet, you could be at risk of being targeted. It is safest to write your Mnemonic Seed down and not to save it digitally.

Copying and Pasting a recipient’s wallet address in order to make a payment can also open you up to risk. Since hackers are able to access your clipboard, they are able to change the copied wallet address before you paste it. This can cause your payment to go to their address instead, and such a transaction can’t be reversed.

  • Why you should not save your Mnemonic Seed digitally

Even if you manually type your Mnemonic Seed onto your device notes or into some sort of document type, hackers could access your device and gain access to your Mnemonic Seed. This could cause your MyMonero Wallet to become vulnerable. The safest way to store your Mnemonic Seed would be to physically write it down and store it somewhere safe.

  • Why you should not save your MyMonero password on your device

Saving passwords on your devices can make them vulnerable to hackers.

Any hacker with access to your Mnemonic Seed as well as your personal password will have complete access to your MyMonero Wallet.

  • What is a CryptoJacker?

CryptoJackers are cybercriminals that hack into both business and personal computers, laptops, and mobile devices to install damaging software.

This software uses the computer’s power and resources to mine cryptocurrency.

This also allows them to steal cryptocurrency from your digital wallets.

  • AntiVirus Software

Having good quality antivirus software loaded and active on all your devices is one of the best ways to prevent cybercriminals from accessing your personal information. Antivirus software is a program that helps protect your devices against viruses, worms, Trojan horses, and other unwanted threats. A good example of an antivirus software that you could use is Malwarebytes This software is easy to use, especially since it can work on various devices, such as Microsoft Windows, macOS, Chrome OS, Android and iOS.

  • Fake Apps/Wallets

It is always best to research the apps and wallets that you choose to use or download.

Cybercriminals have created fake apps to impersonate MyMonero and other well known cryptocurrency wallets. Their aim is to have you exchange your currency through their wallet or app. Doing this can make your funds vulnerable to theft.

It is strongly suggested that you only use the official MyMonero Application or desktop site.

The same goes for all other crypto wallets.

If your funds are stolen through a fake app or wallet, there is generally no way of retrieving them.

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