Source: Federal Bureau of Investigation (FBI) State Crime News
New Currencies Require the Same Caution
Vallese noted that as the value of certain cryptocurrencies has soared, more people are looking to invest in them. “It’s definitely somewhere people want to be,” he said. “But where there is potential for earning, there is potential for risk and loss.”
While no one can guarantee any investment will retain or gain value, where an investor chooses to hold that investment should have strong protections in place to guard against cyber intrusions and thefts.
“When deciding where to put money, make an informed decision,” Vallese said. “Do your due diligence. Understand if they are a well-established, trusted exchange.” Some important questions to ask are: Where is the exchange located? What kind of security practices are used? What kind of monitoring and regulations are in place?
The FBI is working with a wide array of government and law enforcement agencies in the U.S. and abroad to identify and address new cyber threats. The private sector is a key partner in helping gather and share information. And, of course, being aware of cyber threats and taking proper cyber security precautions is the responsibility of every individual.
Even if the investment is a novel one, apply the same rigor as you would with any other financial choice. And as with any online interaction, carefully weigh the possible risks before opening any email, clicking on a link, opening an attachment, or downloading an application.