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Kucoin Trading Bot Review - Minimum Investment, Profitability, Results

Started by Bitcoin, Sep 24, 2022, 05:12 am

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Kucoin Trading Bot Review - Minimum Investment, Profitability, Results

Anyone who has access to the 12 words can drain the MetaMask wallet of funds. The extension functions as a wallet where they can store the keys to their tokens, and secure it with a 12-word seed (mnemonic) phrase after registration. MetaMask is a widely-used browser extension for  Kucoin Ethereum users to interact with Ethereum-based decentralized applications (dapps). The scam works in part because victims are used to providing a code for authentication to verify account information.

At first listen, the robocalls can sound legitimate -- especially if the victim is harried or distracted by other things at the moment the call comes in. "I just want you all to be aware to NEVER have a digital copy of your mnemonic or private key," the user, "tycooperaow", wrote. MetaMask often advises users to keep their seed phrases offline, like on a piece of paper, and stash it somewhere safe. "It's human nature," said Jessica Kelley, a Q6 Cyber analyst who authored the report.

"If you receive a call that tells you someone's trying to sign in to your account, you're not thinking, 'Well, I wasn't trying to.'" The experts behind Prometheus say, "Minute by Minute, our bots can generate $0.30 - $0.60 - $1 - $5 at a time, but as the minutes add up, so do the profits. We've made as much as $4,251 in a single day." So far, this auto-trading bot system works. But this new type of fraud goes right at that 2FA code, and it uses people's fear of their accounts being hacked against them.

imageIn taking action they think will protect them, they actually expose themselves to thieves. Its 24-hour trading volume currently exceeds $3 billion, and it has more than five million users in more than 100 countries. If you have ever had anything to do with the crypto trade bot assets trade, you probably already heard about Kucoin. According to all available data, it is currently one of the most popular exchanges out there.

imageAnd, since Kucoin's expansion was seemingly unstoppable for quite a while, it's not such a big surprise that they decided to come up with their trading bot as well. In addition, if the hackers do gain access to your account, they will not be able to steal your money. A safe measure to take beforehand when the worst case happens is to turn off automated withdrawals. Instead, it's always recommended to spend time and do it manually.

"The bot calls are crafted in a very skillful manner, creating a sense of urgency and trust over the phone. The calls rely on fear, convincing the victims to act to 'avoid' fraud in their account," the report said. A report produced by Florida-based cybersecurity firm and CNBC contributor Q6 Cyber said the OTP bots are driving substantial losses for financial and other institutions.

Source: Kucoin Trading Bot Review - Minimum Investment, Profitability, Results

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