Crypto Users Urged to Lock Devices at Events Amid Rising Thefts

Crypto users are failing to maintain basic situational awareness and security measures at events, according to a report by Kraken. The crypto exchange highlighted a troubling trend where attendees leave their laptops and phones unlocked and unguarded, making them vulnerable to exploitation by bad actors present at these events.

Nick Percoco, Kraken’s security chief, emphasized the importance of treating digital devices as vaults containing valuable crypto assets. He advised attendees to keep their devices locked and within close proximity when not in use. Percoco also noted that scammers often attend crypto events, making it easy for them to blend in and exploit unsuspecting attendees.

Percoco warned about various tactics used by scammers, including "juice jacking," where malicious USB charging stations are used to install malware or steal data. He also cautioned about the risks of compromised WiFi networks and the potential dangers of QR codes, suggesting the use of burner wallets with limited funds for conference activities to protect primary holdings.

Another issue highlighted by Kraken’s security team is the careless discussion of crypto gains and personal information by attendees. One incident involved attendees discussing high-value trades in public, wearing conference lanyards that included their names and companies. This behavior can make them targets for kidnapping and extortion attempts, which have been on the rise this year.

Jameson Lopp, a cypherpunk and co-founder of self-custodial firm Casa, has documented dozens of offline crypto robberies worldwide, with 29 incidents of in-person crypto-related theft so far this year. The most recent case occurred in Argentina. Chainalysis CEO Jonathan Levin suggested that the perception of crypto as an untraceable asset might be encouraging criminals to attempt brazen kidnappings and thefts.

In summary, Kraken’s report underscores the need for crypto users to prioritize personal and operational security, especially at events where scammers may be present. Basic situational awareness and security measures can help protect against exploitation and theft, ensuring the promise of financial freedom that crypto offers.