As I get closer to the cryptoworld, I'm encountering strange activities, or strange events. When I first joined cryptocurrency or the HIVE blog, I had the impression that there would be only positive aspects to this world. There will be no risk of scamming, hacking, or other attacks, but as I continue on my journey, I will encounter and face difficulties. Today's topic is dusting attack, which I learned about a few days ago. I go to investigate what kind of attack this is and how it can cause us harm. I discovered something that is understandable but still perplexing, and you can contribute to the knowledge.
What exactly is dusting and how is it done? Dusting is a small amount of cryptocurrency sent by a scammer that has no value. They sent this small sum to multiple wallet addresses in order to link dusted wallets. They do this to attract users to themselves, as well as to obtain feedback from the users to whom these small amounts are sent. They will be able to continue their chat in any mode and easily commit fraud. Scammers or bad actors sent this small sum to over 1000 wallet addresses in the hope of discovering real identities to which they can reach out. Their mission is not to steal your money, but rather to be used by criminals to plan future exploits.
The amount they sent is so small that you don't even think about it and continue with your other transactions. You will disregard this and proceed with your transactions, such as transferring cryptocurrency to exchanges, friends, and a variety of other platforms. They will track you down after you complete your transaction; they will not be able to identify your name but will reveal your secrets. They can use your KYC to access your exchange account and harm you in any way. They can use this dusting attack to identify large crypto holdings and use this practise to threaten you physically. These can include sophisticated phishing attacks or cyber-extortion threats, as well as kidnapping for ransom.
It is possible to identify dust attacks if you are familiar with your wallet and track it on a regular basis. You must be aware of your wallet and the amount of cryptocurrency you possess. If I talk about HIVE, I must check my wallet frequently to ensure that there are no suspicious transactions, and if you find an uncountable number such as 0.000001 or something similar, you will be active there is some kind of dusting attack against me. You are obligated to investigate any cryptocurrency flowing into your wallet and must be knowledgeable about your wallet. This is one of the possibilities for identifying dust attacks.
This is a difficult question that I researched extensively because I also received that small amount in my wallet, which perplexed me. I came to the conclusion that it is possible to prevent dusting attacks while updating your wallet to HD wallet. This may be possible to exchange but I am not aware of HIVE.BLOG. I'm not sure how I can upgrade to HD wallet, which provides a public key for any transaction and will keep you safe from dusting attacks for some time. If you know anything about it, you should share it with as many people as possible by writing a brief post that everyone reads to stay informed.
Another way to prevent dusting attacks is to update your antivirus software and VPN software, or to set up proxy networks, which will prevent these attackers from tracing your account. To keep you safe, some exchanges allow you to convert these dust amounts to other crypto, such as the Binance exchange, where you can convert any smaller amount to BNB. We also require such features in the Hive platform to keep our accounts secure. We are increasing the number of hive users, and more people are joining this platform on a daily basis. Please let us know if you know how to protect our account from such attacks.
A significant amount, even if it has no value, is sent to 1000 wallet addresses in order to trace your account and other holdings. They will not steal your holdings, but they will definitely track your account for future use. To prevent this attack, create an HD wallet and set up a VPN or proxy network.
This is my attempt to raise awareness among my hive friends about dusting attack, how it works, and how it can be stopped. I hope you will like the post, and if you do, please leave feedback in the comments section so that the next post can be even better. Thank you for sticking with me until the end.
IMAGES AND GIFS TAKEN FROM CANVA, EDITED IN CANVA
