Cryptopay Security and Client Protection

Alyona Shepilova
Apr 23 · 3 min read

Just as with any financial services, the cryptocurrency world might pose some risks to an unsuspecting user. We’ve prepared a guide that will help you stay safe from harm and protect your personal data and your money. Stay vigilant and we’ll do the rest.

When talking about fraud risks, cryptocurrency has some advantages and disadvantages compared to traditional fiat transactions.

With fiat transactions, fraudsters only need some key information about you to gain access to your funds, whereas with cryptocurrency transactions, they need to break through the actual defence of your wallet.

Hacking

To access your Cryptopay account, the first thing the hacker would need is your email and password. Do not use the same password for your email account and the account where you keep your money.

We highly recommend enabling Two-factor authentication. This way, access to your account will be protected by one-time passwords generated in a special app on your smartphone or another device. Be sure to keep it well protected.

Apart from Two-factor authentication, Cryptopay also utilises fingerprint and face authentication (Android, iOS) and device confirmation to protect access to your account. We want to make sure this is indeed you who logs in from the old or a new device.

Social engineering

However, there are many cases when hacking skills are not necessary to gain access to your account, and fraudsters go for persuasion tactics instead.

They often pose as financial advisers, traders or employees of fintech companies to try to scam you for your personal data and gain access to your devices and accounts.

Remember, Cryptopay never asks:

  • To provide remote access to your devices
  • To share your password, Two-factor authentication code or full bank card number.

If someone requests this information or access to your devices, it is a sign of fraudulent activity. You should cease communication with this person and inform us immediately.

Important! If someone (e.g. a trading platform) asks you to create a Cryptopay account to work with their company, this might be a serious safety concern. Please note that Cryptopay is not a trading platform, nor do we partner with any such companies.

Why fraudsters favour crypto platforms? The answer might lie in the nature of cryptocurrency transactions. They are irreversible. Once you press the Confirm button to send your money to another platform (e.g. ‘for trade’), we won’t be able to revert the transaction, nor refund it.

Always properly research the trading platform in question before you provide third parties with any documents or send them any money. A good rule of thumb is: if something sounds too good to be true, it probably is.

If we believe you might have fallen victim to fraud, we will immediately take actions to protect your account and contact you to offer assistance.

Remember: What makes any fraud prevention system effective is the joint effort of both the company and the customer. Stay vigilant!

Contact us

If you suspect that third parties might have access to your funds or personal information, be sure to contact us immediately using our official channels:

Email: support@cryptopay.me

Online chat (accessible from our website https://www.cryptopay.me/ or our apps iOS, Android)

Telegram channel: https://t.me/cryptopayofficial

Please note that we don’t offer phone support and don’t use other messengers apart from Telegram. If in doubt, it’s best to double-check via official channels.

Be safe out there!

The CPAY Blog

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