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Original transcript: Cryptocurrency Scams & Safety in the DeFi space
In the rapidly evolving DeFi space, it’s essential to exercise caution when interacting with new projects, especially when it comes to clicking on links shared by others. Scammers are employing sophisticated tactics to trick victims, often using identical-looking websites and hijacked accounts. This can lead to devastating losses, including drained wallets and irreparable harm to investors’ confidence and morale.
To avoid falling prey to these scams, we recommend using platforms like DeFi Llama, which provides verified links for DeFi projects. This simple habit can make all the difference in safeguarding your investments. Even if you’re confident in the sender, it’s better to verify links using DeFi Llama to prevent potential impostors and hacking.
Key takeaway: Clicking on links sent by strangers can be hazardous in the DeFi space. Always use DeFi Llama to verify links and avoid user errors that lead to significant losses.
Noteworthy related facts:
- According to a report, user errors, such as sending funds to the wrong address, account for the majority of losses in the DeFi space. (Source: DeFi statistics
- In the first year of investing, about 65% of investors experience a loss, often due to user errors and scams. (Source: Investor behavior study)
