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Protecting Yourself Against Fake Address Scams

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The crypto communities are rife with stories about financial losses despite the fact that multiple security tips have stressed the importance of verifying the address, especially before making a transaction of large amounts.

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In such cases, investors take absolute control of their assets if they are using a non-custodial wallet like Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)). Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) won't be able to cancel a transaction and trace tokens back once the transaction goes on chains.

Is it an accident or a carefully designed trap by scammers when you make transactions to a similar address?It has come to Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) Team's attention that a new type of tricky scam has come into play. Scammers will collect wallet addresses with frequent USDT transactions of large amounts on the chain and monitor the transaction records of these wallet addresses. Upon finding the addresses where they often receive assets, they use technical methods to generate addresses that are very similar to authentic ones. When the user transfers again, they may directly copy the transfer address before the transaction is executed. In fact, the address has been compromised and assets have fallen into the wrong hands, given that users were not able to distinguish the addresses and thus resulting in a loss of tokens.

How to avoid fake address scams?
  1. If you have frequent transaction needs, it is recommended that you verify the address every time you make a transfer. It is easy to make a big mistake if you simply confirm whether the head and tail of an address are consistent, thus resulting in permanent losses;
  2. It is recommended to use Bitget Wallet (Previously Bitget Wallet (Previously BitKeep))'s address books and save trusted addresses in a timely manner. Therefore, you don't have to verify an address again when making a new transaction and your asset security is guaranteed at the same time.
How to add address books:

1) Select token pairs and enter the transaction page. Select "Add a New Address" and enter the details, then confirm;

2) Tap the address book next time when you make a transaction and you will find the correct address straight away.

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