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How to store cryptocurrencies, keep funds safe, and spot scams

Given its growing popularity, experts at Avast have provided advice on how to store cryptocurrencies, keep funds safe, and spot scams.

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Avast, a global leader in digital security and privacy, has observed in the first six months of 2021 that cryptocurrency-focused phishing scams are more likely to appear in countries where cryptocurrency is rising in popularity.

Avast’s threat labs researchers have intercepted and protected users against a rise in crypto-related phishing sites since the start of the year, with the majority posing as legitimate custodial wallets. The rise of these sites is higher in countries where cryptocurrency adoption is most prevalent1. The United States, Brazil and Nigeria are the biggest targets for these crypto-scams, with notable levels of scams also in the UK, France, Russia and India. In this research, Avast Threat Labs monitored a selection of 37 samples. The global heatmap below shows where around the world users visited crypto-related phishing in the first six months of 2021:

Peter Kovac, senior researcher at Avast, said, “The crypto market is surging right now. Bitcoin has been given a boost following recent news from El Salvador that it will be recognized as legal tender in the country – with other countries in the region tipped to follow suit.”

“This surge in Bitcoin is having a knock-on effect across the wider crypto space and some analysts are even predicting that 2021 will be a record-breaking year for cryptocurrencies. However, as it has grown in popularity, it has also grown as a more lucrative target for hackers – and our researchers have found the levels of crypto-related scams are most prevalent in regions where cryptocurrencies are gaining popularity.”

Given its growing popularity, experts at Avast have provided advice on how to store cryptocurrencies, keep funds safe, and spot scams.

How to store cryptocurrency

There are several methods and crypto wallets that cryptocurrency owners can deploy to store their cryptocurrency. Each has its own advantages and potential security pitfalls.

Custodial wallets

With a custodial wallet, coins (cryptocurrencies) are managed by some other entity, like a cryptocurrency exchange such as Binance, or similar service. It works like a traditional bank account, where users can log in and manage their funds.

  • The advantages: The burden of securing funds is partially offloaded to the service provider, users have guarantees and insurance to a certain extent.
  • The risks: If the service goes bankrupt or is fraudulent it could lose some or all funds. If this happens, users are at the mercy of the service provider, and they may limit people’s access to their money.
  • Relevant threats: It’s vital that users view their crypto account like any other form of online banking, with the same threats and vulnerabilities facing it, without the same protections and insurances that they have with traditional banks. Phishing is one of the biggest threats facing custodial wallets, with fake websites impersonating exchanges and services designed to steal people’s credentials and funds popping up all the time.

Software wallets

Software wallets are applications that manage cryptocurrency owners’ private keys and allow them to make transactions directly.

  • The advantages: Software wallets are designed to be very convenient and easy to use. As a non-custodial wallet, people have complete control over their funds.
  • The risks: The device the software wallet is stored on will be the single point of failure. If a device with the app is hacked, stolen or even damaged, then the user could lose access to their funds forever. 
  • Relevant threats: Besides the physical risks, ransomware encrypting the device and data stored on it, and demanding a ransom payment to unlock said device and data, pose a major threat. Trojans spying on the user’s data, and backdoors letting intruders into the device, also pose a huge risk to software wallets.

Paper & brain wallets

These are the most simple solution but also the most error prone – simply having the private key written down or memorized.

  • The advantages: Put simply, the advantage is its simplicity, lack of cost and will not be susceptible to hacking or other computer threats.
  • The risks: If something happens to the paper such as damage or theft, or the user has a lapse in memory, they risk losing all of their funds. 
  • Relevant threats: There will be no backup in case of loss of paper or memory. Once it’s gone, it’s gone for good.

Hardware wallets

Hardware wallets are an actual separate device, such as a USB, that acts as the wallet. These wallets also come with a “recovery sheet” with the private key written on a piece of paper (or carved into steel to withstand fire and other forms of physical damage).

  • The advantages: Hardware wallets are especially designed to prevent hacking. Only very select, skilled individuals have shown the ability to crack a hardware wallet after having long-term physical access to it.
  • The risks: As with any physical device, losing it would be one of the biggest risks. However, providing a crypto owner is using it according to the best practices by having a secure safety pin/password, it is rather secure. While not necessarily a risk, hardware wallets can be expensive, with associated safekeeping costs.
  • Relevant threats: Providing a user follows best practices, the threats are minimal. Most hardware wallets require several checks before they allow people to send money. These happen on the device and private keys never leave that device.

How to keep cryptocurrency safe

Users should be wary of scams: Scams can come in many forms online, from “crypto giveaways by Elon Musk” to “we will invest your money for you with XYZ% gains every month”. If it sounds too good to be true, then it probably is.

Crypto owners should:

  • Watch out for unsolicited private messages: Whether that’s on WhatsApp/Telegram or any other social media forum, people should immediately block any unsolicited message that may be fraud. For example, if a message comes from an unknown number, or if it comes from a contact but is an unusual, and possibly urgent message coming from the contact, the contact’s phone might have been hacked. It is recommendable to reach out to a contact, for example via phone call, and verify if they really sent this message before taking any further action. Even if the message is unrelated to crypto, the intention can be phishing, to ultimately spy on the user’s data.
  • Be aware of mobile phishing: Hackers are increasingly targeting people on their mobile devices in order to steal crypto credentials. These social engineering attacks can come from anywhere on a mobile device, including texts, social media, third-party messaging platforms or email. Beyond phishing, malicious mobile apps are also on the rise that have the hidden ability to log keystrokes and spy the activity on people’s screens. To prevent mobile phishing attacks, users can use Avast Secure Browser, which offers an anti-phishing feature that blocks dangerous websites on Android devices. The browser’s anti-phishing feature also works on Windows and Mac devices.
  • Rely on services that use strong security measures: When choosing a custodial or software wallet, people should be assured to choose a provider that offers strong security measures including two-factor-authentication methods. For more security, there are also platforms that encourage the user to set up separate passwords to log in to the platform, and to do a transfer. People who want to stay entirely private may decide for a platform that does not require them to submit an ID, but oftentimes these platforms provide poor security measures. There are platforms that can offer this as they allow crypto trading only instead of trading with Fiat money such as Euro or US-Dollar, which is why they are not obliged to stick to anti-money laundering and know your customer (KYC) rules.
  • Install an antivirus: Crypto owners should ensure that they have strong antivirus protection across all of their devices. For example, many people will have an antivirus on their PC but not on their mobile devices or tablets – which is why malicious mobile phishing and malware campaigns have been so effective for hackers. Crypto accounts can be worth a very significant amount of money, so for users it’s essential to ensure robust internet security on any device on which crypto information is stored or from which accounts are accessed.

Tech & Innovation

Should emojis be used in workplace communications?

Messages with no emojis were clearly the winner, making the sender appear more competent and professional.

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When people interact in person, subtle signals like facial expressions, body language and tone of voice play a crucial role in communicating intent and meaning, whereas written communications lack these non-verbal cues and can lead to misinterpretation or assumptions. The advent of emojis became a popular tool to provide context to written messages and they work in many settings. But how are they perceived in workplace communications?  Not so well.

Researchers from the SUniversity of Ottawa examined how emojis impact perceptions of competence and appropriateness for those who utilize them in professional settings. For this small-scale study, participants read workplace instant messages that varied in tone and emoji use.

Key findings

Here is what the researchers found:  

  • Messages with no emojis were clearly the winner, making the sender appear more competent and professional.
  • Positive emojis enhanced impressions when paired with a neutral or positive message.
  • Negative emojis were consistently considered inappropriate for workplace communication as they made senders seem less competent, especially when the message itself was already positive or neutral.
  • Gender dynamics were at play as women judged negative messages from other women more harshly than negative messages from men, rating them as less appropriate.

“This study highlights the importance of being mindful about the potential impact of emojis on professional interactions,” writes lead author Erin L. Courtice from the School of Psychology at the Faculty of Social Sciences at uOttawa. “Emojis are not simply neutral add-ons to text messages; they can influence how others perceive us, particularly in terms of competence and appropriateness. By understanding the nuances of emoji use, professionals can leverage these digital tools to enhance their communication and build stronger workplace relationships.”

Emojis are not a salvo for covering up errors

Positive emojis do not soften bad news or critical feedback – instead, they may create a sense of dishonesty and insincerity when used in a negative message. Negative emojis should generally be avoided because they produce low perceptions of overall competence even if the crux of their meaning is clear and understood in an appropriately framed message.

Researchers found that employing an emoji is not always beneficial: for example, adding a positive emoji to a positive sentence did not increase a perception of appropriateness. The tone of the message was seemingly more important, as mixed signal messaging can potentially affect an employee’s willingness to collaborate on future projects and affect professional trust.

“Future research should consider how emojis function within broader communication patterns, examining outcomes such as conversation flow, rapport building, conflict resolution, and team cohesion in digital workplace environments,” writes Courtice, who collaborated with professor Isabelle Boutet whose research program studies both how humans analyze social cues conveyed by faces, and how digital communication is enhanced by emojis to communicate emotions and social traits.

The full research team included: Erin L. Courtice, Megan Lawrence, Charles A. Collin, and Isabelle Boutet.

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Tech & Innovation

Augmented reality menus may help restaurants attract more customers, improve brand perceptions

AR menus can significantly increase customers’ interest in visiting a restaurant and may result in more positive word-of-mouth marketing, when compared to printed or QR-code menus.

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Restaurants looking for new ways to engage and inform customers may benefit from incorporating augmented reality (AR) technology into their menus, according to new research from Washington State University.

The study, published in the International Journal of Hospitality Management, finds that AR menus can significantly increase customers’ interest in visiting a restaurant and may result in more positive word-of-mouth marketing, when compared to printed or QR-code menus.

Led by Soobin Seo, professor of hospitality business management at the Carson College of Business, the research examined whether AR could enhance how restaurants present farm-to-table information — details about where ingredients are sourced and how food is produced.

“Consumers increasingly want transparency about where their food comes from, but the way that information is presented really matters,” Seo said. “Augmented reality allows restaurants to share that information in a more vivid, interactive and engaging way.”

The research included two experimental studies designed to reflect how diners encounter menus in real restaurant settings. In the first study, participants viewed one of three menu formats at a simulated local restaurant: a traditional printed menu, a QR-code menu, or an AR menu. The AR menu allowed users to see a three-dimensional food item through their smartphone and tap individual ingredients to learn where they were sourced.

Participants in the study indicated higher intention to visit a restaurant after viewing the menus using AR, and a greater likelihood of sharing the information with others —compared to when they viewed standard menu formats. Participants also reported feeling more immersed in the experience and believed they learned more about the food and where it comes from.

“These immersive experiences help people pay closer attention and feel like they’re actually learning something,” Seo said. “That combination appears to drive stronger interest in the restaurant itself.”

A second study explored how AR menus might work in chain restaurant settings comparing Panera Bread and McDonald’s, where brand perceptions vary widely. Researchers compared consumer responses to AR-based farm-to-table information presented by brands with healthier reputations (e.g. Panera Bread) and those typically viewed as less healthy (e.g. McDonald’s).

While AR menus improved perceptions across both brands, McDonald’s experienced a larger increase in perceived healthiness and visit intentions than Panera Bread.

“When expectations are low, transparent and interactive information can have an outsized impact,” Seo said. “For brands that aren’t typically associated with farm-to-table practices such as fast-food restaurant chain brands, AR disclosures may help offset negative perceptions.”

The study also found that the effectiveness of AR menus is somewhat influenced by how well the technology aligned with a restaurant’s overall brand image, highlighting the importance of “strategic fit” when adopting new technologies, said Seo.

Although AR menus are still relatively uncommon in the restaurant industry, Seo said the technology is becoming more accessible and feasible, even for independently owned restaurants.

“There are already low-cost tools restaurants can use to experiment with augmented reality,” she said. “This isn’t just about being flashy. It’s about providing meaningful information in a way that feels engaging and responsible.”

Beyond marketing benefits, the researchers suggest AR menus could encourage more sustainable practices by motivating restaurants to be more transparent about sourcing and to strengthen relationships with local producers.

“This is a potential win for restaurants, consumers and communities,” Seo said. “It shows how emerging technology can support sustainability while also enhancing the dining experience.”

In addition to Seo, co-authors include Jiyoon (Jennifer) Han, assistant professor of hospitality and tourism management at the Isenberg School of Management at the University of Massachusetts Amherst, and Elizabeth Howlett, professor of marketing at WSU.

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Tech & Innovation

Epson launches SureColor-S7130 as latest addition to acclaimed SC S-Series of eco-solvent printers

With the equipment segment expected to capture more than 75% of the market revenue in Asia Pacific’s commercial printing market, where there’s also a growing demand for short-run and on-demand printing, the SC-S7130 aims to meet evolving needs by empowering businesses to operate more competitively and sustainably.

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Epson launched the SureColor-S7130 (SC-S7130), the latest addition to its acclaimed SC S-Series of eco-solvent printers. Designed for print service providers specializing in small-volume production, the SC-S7130 combines enhanced productivity, reliability and print quality in a cost effective solution, making it a significant upgrade from its predecessor, the SC-S40670.

With the equipment segment expected to capture more than 75% of the market revenue in Asia Pacific’s commercial printing market, where there’s also a growing demand for short-run and on-demand printing, the SC-S7130 aims to meet evolving needs by empowering businesses to operate more competitively and sustainably.

Engineered for Productivity and Performance

The SC-S7130 features an upgraded PrecisionCore Micro TFP Printhead, delivering close to a 24% increase in print speed in default mode[1]. Equipped with 3,200 nozzles and a wider printhead than its predecessor, the SC-S7130 achieves expanded print width in one pass—improving throughput across all print modes.

To minimize graininess and banding, the nozzles on the SC-S7130 have been specially redesigned to release smaller M-sized dot and larger L-sized dot for high quality print.

Ease of use is a hallmark of the SC-S7130, which features a 4.3-inch touch display for intuitive operation even when wearing gloves. The SC-S7130 also comes with Epson Edge Print Pro, the latest edition of Epson’s advanced image processing and production software that enhances user convenience and remote management during operations. Further, a new ‘Text Sharpness’ mode in Epson Edge Print Pro enables precise and crisp text printing with the SC-S7130.

Printing made Ultra-Reliable

In addition to a newly designed printhead guard that flattens jammed media to prevent damage to the printhead, the carriage temperature sensor is now mounted closer to the nozzle surface for a more accurate reading. The sensor also detects temperature changes quickly, maintaining consistent color reproduction across jobs.

Equipped with a new Nozzle Verification Technology that monitors nozzle performance in real-time, the SC-S7130 is capable of automatically detecting clogged nozzles and triggering an alert so that businesses can act quickly, ensuring print quality is not compromised across jobs.

The SC-S7130 uses Epson UltraChromeTM GS3 inks in 800ml ink packs, replacing the 700ml ink cartridge found in its predecessor, thereby reducing waste and the frequency of ink replacements. Furthermore, the Epson UltraChromeTM GS3 ink technology is GREENGUARD Gold certified for low chemical emissions and volatile organic compounds, making it safe for long-term indoor use.

A Holistic Solution for Diverse Printing Needs

In addition to delivering exceptional performance and enhanced productivity, the SC-S7130 also integrates seamlessly with Epson Cloud Solution PORT, providing businesses with a holistic solution for managing their printing needs. This intuitive, cloud-based remote monitoring software offers real-time insights into printer fleet performance, usage and efficiency, empowering print service providers to make data-driven decisions.

With Epson Cloud Solution PORT, businesses can also seamlessly integrate large printer fleets, monitor printer status, track ink consumption and access operation history remotely, to ensure optimal performance at all times.

“The SC-S7130 is engineered for a wide range of applications, including outdoor and indoor signage, banners and more. Its versatility and reliability, coupled with its cost-effective ownership, make this printer a valuable addition to any print service provider’s lineup,” said Noelle Gonzalez, Head of Marketing and Customer Service at Epson Philippines Corporation. “The SC-S7130 is a testament to Epson’s dedication to creating innovative solutions that empower businesses to remain competitive while meeting their unique needs.”

[1] Printing speed increased 23.8% in default mode using adhesive vinyl in 600 x 1200dpi, 6-pass.

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