On dark web marketplaces, you can get pretty much anything illegal if you search long enough. You can even purchase credentials to hacked crypto accounts that are available for sale for surprisingly low sums given how much cryptocurrency could be held in them.
How Much is Your Crypto Account Worth on the Dark Web?
According to the Dark Web Price Index 2021 by Privacy Affairs, this is approximately how much your crypto accounts are currently worth on the dark web:
Hacked Coinbase verified account - $610
USA verified Local Bitcoins account - $350
Crypto.com verified account - $300
Coinfield.com verified account - $410
Kraken verified account - $810
Cex.io verified account - $710
Blockchain.com verified account - $310
Binance verified account - $410
As someone working full-time in the Bitcoin industry, I find this quite fascinating.
But if you are wondering why accounts aren’t being sold for more (given that there’s probably more inside), it’s because hackers selling stolen credentials don’t want to deal with the hassle of stealing, laundering, and then cashing out the funds themselves.
The same goes for PayPal accounts actually.
How to Secure Your Crypto Accounts
Here are a few tips on how you can reduce the risk of losing your cryptocurrency to hackers who will sell your information to willing buyers on the dark web.
1. Use a secure connection
While trading or making crypto transactions, use only a secure Internet connection and avoid public Wi-Fi networks. Even when transacting at home, use a VPN for additional security.
2. Use multiple wallets
Diversify your cryptocurrency investments in multiple wallets. This will protect your portfolio and cushion the loss in case of any breach of your crypto account.
3. Change your passwords frequently
A strong password is your first line of defense. Remember to regularly change your password(s) or use a password manager.
4. Use a cold wallet
Cold wallets are not connected to the Internet so are less prone to cyberattacks. Storing your private keys in a cold wallet, such as a hardware wallet, is arguably the best way to store your cryptocurrency and makes crypto account hacking a de facto non-issue for you.
Stay safe out there & secure your online accounts!
Peace, love & anarchy,