On occasion, you may have noticed Instagram accounts promoting Bitcoin, investments or ways to earn money quickly. Users will boast about how much money they’ve made from their investments and are likely to reach out to their followers to gain interest. 

This can lead to an Instagram user’s worst nightmare: being hacked.

Since October 2021, the Identity Theft Resource Center (ITRC), has seen a rise in the number of users who have had their Instagram accounts hacked. As of late, hackers have upped the ante by using the latest Bitcoin craze as a way to con users out of their accounts. 

How are hackers doing this? 

Oftentimes with a simple direct message. 

Targeted Instagram users are likely to receive a direct message or text message from a hacker (posing as a follower the user knows) who may offer you a fee to promote a Bitcoin product or invest in the currency, they will also provide a link. That link automatically logs users out of their accounts and their credentials are changed within seconds. From there you’re likely to see Bitcoin-esque posts uploaded to your feed in the hopes of duping another user out of their account.  


How to Prevent Your Instagram Account from Being Hacked? 

Unfortunately, the loss of account access can happen in a plethora of ways, Bitcoin scams just happen to be the most popular form that hackers have taken to lately.  Here are steps that you should take to protect your account.

  1. Choose a strong password. A common way accounts are hacked is due to weak passwords. Every account you have should include a different password, which will make it harder for hackers to gain access. We recommend passwords that include capitalized letters, special characters and numbers.
  2. Enable two-factor authentication. One of the strongest ways to beef up your online security is with two-factor authentication. The security method requires two forms of identification in order to access your account, typically a password and a unique code that is sent to your phone via text message or email whenever you log into your account.
  3. Never share Instagram credentials. The basis of social media scams begin with building trust with victims, often posing as someone the user knows and using persuasive language. If you are asked for passwords, codes, PIN numbers, to click links or for other types of personal information – never share. Even if you feel confident in who you are speaking to.


What to Do if You Lose Account Access 

Instagram has developed different solutions to help those who have lost access to their accounts, as well as protecting accounts against hackers.

Instagram created a “comprehensive destination” where users can report and resolve account access issues. There you can select if your account has been hacked, disabled, if you forgot your password or lost access to your two-factor authentication. In addition, Instagram began testing a way for users to ask their friends to confirm their identity in order to regain account access.

The platform also began removing and sending warnings to accounts that their automated systems deem malicious. . 

From personal to business, the thought of losing access to your social media accounts can be daunting. At Blufish, it is our mission to not only craft engaging social content, but to also help advise on the best ways to keep your account safe from these malicious attacks. If you are in search of strengthening your social media, we’d like to help. Contact us today.

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