Crypto Is on the Rise Again — Don’t Make the Same Mistake I Did in the Last Bull Run
The crypto world is buzzing again. Bitcoin is climbing, altcoins are making noise, and everyone’s talking about the next big thing. If you’re new to crypto or even if you’re not, let me share a story from the last bull run — a lesson learned the hard way.
My Journey into Crypto
Back then, I was just getting started. Like many others, I bought some Bitcoin. But then I stumbled across Flux. For someone like me, a software engineer with a passion for hardware, Flux was fascinating. They were building a decentralized cloud — basically the Web3 answer to AWS or Google Cloud. I was sold.
I started mining, staking, and accumulating Flux. I was careful with my Bitcoin, storing it on a hardware wallet. But Flux was another story — it wasn’t supported on most hardware wallets at the time, so I kept it on the official Flux (Zelcore) wallet. I thought I was being cautious. I avoided shady projects and scams. I even joined the Flux Discord to stay in the loop. But one mistake was all it took.
The Airdrop That Wasn’t
One day, Flux announced an airdrop. I’d participated in previous ones and knew I didn’t have to do anything special — they just showed up in your wallet. But while browsing the official Discord, someone dropped a link, claiming it could “speed up” the airdrop process.
Now, looking back, it sounds ridiculous. Why would you need to “speed up” an airdrop? But in the moment, it seemed legit. The link led to a page that looked exactly like the Zelcore wallet. Without thinking, I entered my login credentials.
I got an error message. Strange, I thought, but I didn’t dwell on it. I was on my way home, riding the subway with no service. That gave me time to think — and as my head cleared, panic set in.
The Moment I Realized
I realized I had fallen for a phishing scam. Someone had just stolen my wallet credentials. As soon as I got off the train, I logged into my wallet, hoping I could change the password in time. But it was too late.
They had already accessed my wallet and started draining my funds. My heart sank as I saw the transactions leaving my account.
The Lucky Break
Here’s where I got incredibly lucky:
They didn’t lock me out of my account, so I still had access.Most of my Flux was staked, and the scammers either didn’t know how to find it or didn’t have the time to figure it out.
I quickly moved my staked funds to a new wallet I created on the spot. In the end, the scammers got away with about 300 Flux — worth around $400 at the time. Not a small amount, but it could’ve been so much worse.
Lessons Learned
I’m sharing this because the crypto space is heating up again, and with every bull run, scams come roaring back. Scammers thrive on the excitement and urgency of the moment. Here’s how you can protect yourself:
Use Cold Wallets Whenever Possible: Hardware wallets are your best bet for securing crypto. If a coin isn’t supported, at least make sure your wallet is as secure as possible.Enable 2FA: Two-factor authentication adds an extra layer of security. Always use it for your hot wallets.Don’t Trust Links from Random Users: Only click URLs from official sources, like a project’s verified website or social media accounts.Think Before You Act: Scams often create a sense of urgency — “act now or miss out!” Take a breath, slow down, and think critically.Double-Check Everything: If something feels even slightly off, don’t risk it.
Final Thoughts
Crypto is an exciting space, full of opportunities. But the very things that make it exciting — innovation, speed, and decentralization — can also make it risky. As the market rises, so do the scams.
Learn from my mistake. Stay vigilant, secure your funds, and don’t let the fear of missing out cloud your judgment.
Good luck out there. Make smart moves and, hopefully, a lot of money!
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Crypto Is on the Rise Again — Don’t Make the Same Mistake I Did in the Last Bull Run was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.