Dusting Attack

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A dusting attack sends small amounts of cryptocurrency to a wallet to uncover the identity of its owner. The attacker then uses this information for phishing scams. One example is when a dusting attack sends a coin or token to a wallet via an airdrop. When the victim tries to cash out the coin or token, the attacker can access his/her wallet through the faulty smart contract attached to the coin or token. 

Dusting Attack

How can a dusting attack uncover my identity?

Because the attacker sends dust to all wallets you use across multiple platforms, including centralized ones where you log in with an email account. 

How can I protect myself against a dusting attack?

By using the dust sell feature available on exchanges like Binance, FTX, and Gemini. This feature allows you to convert all ‘’dust’’ to Bitcoin. A few Satoshi’s worth of a coin or token is considered dust. 


Methodology
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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