According to Richard Teng, ensuring crypto security starts with individual responsibility. He highlights three essential self-custody practices for traders: always verify links to avoid phishing, double-check sources even when trusted, and never share your seed phrase. These steps are critical as increasing phishing attacks and scams directly impact the safety of digital assets and trading portfolios. Adhering to these security protocols can reduce the risk of loss and ensure long-term portfolio protection in the volatile crypto market (Source: @_RichardTeng on Twitter, May 16, 2025).

According to @CryptoKing, traders should prioritize large cap cryptocurrencies with strong communities and real utility for better 5x–10x trading opportunities, as these assets historically outperform small cap coins in both safety and growth potential. @CryptoKing emphasizes that the misconception of needing to buy sub-$1M market cap coins for major gains leads to higher risk of losses, while established large caps offer a more reliable path to significant returns (Source: @CryptoKing on Twitter). This insight is critical for traders aiming to maximize gains while minimizing risk in the current volatile crypto market.

According to Flood (@ThinkingUSD) on Twitter, projections indicate a continued increase in crypto-related crime throughout the next decade, emphasizing the urgent need for traders and investors to prioritize personal and asset security to mitigate risks associated with cryptocurrency theft and scams (source: Flood Twitter, May 4, 2025). This highlights the importance of integrating advanced security protocols, multi-factor authentication, and cold storage solutions into trading strategies to protect digital holdings in volatile markets.

According to Milk Road (@MilkRoadDaily), a prevalent crypto scam involves scammers sending random tokens to users, and when users attempt to sell these unsolicited tokens, their wallets can be drained due to malicious smart contract interactions. Traders should be cautious and avoid interacting with unknown or suspicious tokens, as this scam has become one of the most common threats to crypto asset safety (source: Milk Road, April 29, 2025).

According to Richard Teng, SMS spoofing is a growing threat where scammers send fake texts that appear in the same thread as legitimate messages, potentially tricking users into revealing sensitive information. Traders should remain vigilant and verify any suspicious communications, especially those asking for personal or financial details. For more tips on staying safe, visit Binance's blog.

According to Richard Teng, Binance's risk management team has successfully traced and recovered stolen funds, ensuring users' assets are protected. This incident underscores the importance of robust security measures in the crypto space, particularly for traders and investors who prioritize safety alongside profitability.

According to Lookonchain, a trader lost $1.82M due to phishing transaction signatures. This incident underscores the importance of double-checking transactions, regularly reviewing and revoking token approvals, using secure wallets, avoiding phishing websites, and being wary of unsolicited messages or unknown airdrops to safeguard assets.

According to Crypto Rover, New York has introduced a new bill aimed at criminalizing crypto fraud and 'rug pulls' to protect investors. This legislative move underscores the state's commitment to combating fraudulent activities within the cryptocurrency space, ensuring a safer trading environment.

According to ZachXBT, the OKX compliance team has efficiently worked on multiple cases ensuring prompt return of stolen funds to victims. The effectiveness of these operations relies on the rapid reporting of illicit transactions and the use of compliance tools to flag suspicious addresses. ZachXBT emphasizes that delays in reporting or unflagged addresses in compliance tools could shift responsibility towards victims or law enforcement, rather than the exchange. This highlights the importance of timely action and robust compliance checks for trading safety.