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In less than two minutes, the attacker used the stolen seed phrase to empty the wallet. Last May, one Reddit user reportedly lost $1,200 in Ethereum after mistakenly uploading their seed phrase onto GitHub, an open-source code-hosting platform. WunderBit is an advanced cryptocurrency trading terminal. It providers a variety of services for both investors and traders, to both automate their investment and strategies and to generate additional incomes through investors’ capital or through copying other traders.

It has become the norm: crypto trade bot each time the crypto trade bot market is dominated by bulls, the number of scam coins and projects promising unbelievable returns also increases. However, scammers are increasingly targeting inexperienced traders with so-called sophisticated trading software and trading bots. This software runs on the cloud and has free to use plan, making it a great deal for beginners. TradeSanta is simplistic easy to use cloud-based crypto trading bot that lets you either place long or shorts, manage trades around the clock saving your time and efficiency.

It sounds simple and easy, but if you have experience in trading before, you should be aware that it’s the most challenging part. Take the classic grid, for example; it helps you accumulate more coins when the price dip and gradually profit when the price rises. MetaMask never asks users of their seed phrases and operates no Google Doc-based support. MetaMask, a browser plug-in for Ethereum wallets, has alerted users about a phishing bot. Bots target users on Twitter, prompting them to enter their seed phrases in a Google Doc.

imageIn another phishing attack last December, blockchain intelligence firm CipherTrace identified a malicious website pretending to be MetaMask, which users wouldn’t be able to tell apart unless they paid attention to the site’s URL address. In written responses to questions sent by News, a Kucoin representative agrees that while traders are able to transfer funds to a trading bots platform, it still takes someone who works for the platform "to operate the trading software to obtain profits for investors." In any case, this trading mode comes with risks, the Kucoin team is quick to point out.

This idea about trading bots being risky is backed by the Kucoin team, as well as the CEO of Naijacrypto, a Nigerian cryptocurrency exchange. NapBots is a cryptocurrency trading automation service. The platform provides a variety of its own automated bots that users can follow and subscribe to in order to generate passive cryptocurrency income over time. Investing always comes with risks. For using a trading bot, it doesn’t mean that you’re guaranteed to make profits.

If that’s what in your mind for using the KuCoin trading bot, you better stop using it, or you might be disappointed with the results. PHISHING ALERT!

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