Self-custody empowers you with complete financial freedom. But with that freedom comes full responsibility of securing your digital assets. Without the safety nets of banks or centralised exchanges, you can become the single point of failure.
And the biggest threat isn’t sophisticated hackers. It’s human error - often in the form of phishing attacks that trick users into giving up sensitive wallet details.
Let’s explore self-custody, how phishing scams work, and the practical steps you can take to protect your crypto.
What Is Self-Custody?
Self-custody means you control your private keys - the cryptographic credentials needed to access and manage your digital assets. Rather than relying on an exchange or third party, you use a self-custodial wallet to store and manage your assets directly. Whilst some wallets may give you your private keys to manage directly, others provide more user-friendly security via a range of methods.
Traditionally, crypto wallets were safeguarded with a seed phrase - a string of words that acts as a master password. But newer technologies have made onboarding and recovery much smoother, with options like Passkeys, social logins (e.g., Google or Apple accounts) and flexible recovery methods.
While self-custody gives you full control over your assets, it also comes with full responsibility:
Lose access, lose your funds. Whether that’s losing your seed phrase, private keys, or the email/social login linked to your wallet - if you can’t recover them, your assets are gone.
If someone else gets in, they get everything. A compromised seed phrase, private key, or connected account can allow an attacker to drain your wallet if not properly protected.
No do-overs. There’s no central authority to reverse transactions or refund losses.
In crypto, security is absolute.
Why Security Really Matters
According to Certik’s Hack3d: Web3 Security Report 2024, phishing attacks and private key compromises were responsible for nearly 80% of all crypto losses last year - totalling over $1.9 billion.
Most crypto is lost not because it’s hacked… but because people unknowingly give it away.
Common Threats Every Crypto Holder Should Know About
1. Phishing Attacks
Fake websites, scam emails, and lookalike apps are designed to steal your seed phrase or trick you into signing malicious transactions. Some even impersonate wallet support teams on platforms like Discord or Telegram.
Red flags include:
Requests for your login details or private key
URLs that look "off" (e.g. jiggle.app vs juggle.app)
Urgent warnings like “Your funds will be lost unless you act now!”
Unverified links in DMs or suspicious popups on unfamiliar sites
2. You Are the Last Line of Defence
If you fall for a scam or share your wallet login details, you are providing free access to your wallet. There is no way to reverse blockchain transactions. That’s why education, awareness, and good security habits are essential.
3. Mobile and Extension-Based Risks
Malicious browser extensions and mobile apps are on the rise. Some mimic real wallets or inject harmful code into legitimate platforms. Even experienced users have been caught off-guard by phishing links or fraudulent updates.
Top Tips to Stay Safe with Self-Custody
Here are some essential best practices for securing your crypto:
1. Never Share Your Login Credentials
No wallet, exchange, or support agent will ever need your PIN or access to your recovery method, regardless of how you signed up. Keep it secure and private. If someone asks for it, it’s a scam - always.
2. Bookmark Key Platforms
Scammers use SEO and paid ads to rank fake sites. Bookmark the real URLs for your Jiggle wallet to avoid phishing traps.
3. Be Suspicious of DMs
No legitimate company will message you out of the blue offering “help” with your wallet. Always verify communication through official channels.
4. Stay Educated
Scam tactics evolve fast. Follow trusted sources to stay updated on new threats and best practices.
Jiggle - What We Do to Help
At Jiggle, security isn't an afterthought - it’s built into everything we do. While we’re committed to making crypto simple and accessible, we’re equally focused on protecting our users from common risks like phishing and account compromise.
Here’s how we help to keep you safe:
Verified Communication Only
To prevent impersonation and phishing scams, we only communicate through official channels within the Jiggle Wallet, on our website, or via [email protected]. Our dedicated support team are on hand 24/7 through these channels to assist you.
Secure Social Logins
Jiggle supports Apple and Google logins, allowing you to leverage the strong authentication and built-in security of platforms you already use.
Two-Factor Authentication (2FA)
Enable 2FA for an extra layer of security. Even if someone gains access to your login credentials, they won’t be able to move funds beyond your transaction limits without passing an additional verification step — in this case, a one-time passcode sent to your email.
Phishing Reporting Made Easy
Think you’ve spotted a scam? Our feedback form lets you quickly report suspicious messages, fake sites, or impersonators so we can take swift action and protect the community. Just select “Feedback” and then “Report Suspicious Activity” to share the details.
Self-custody gives you total control over your digital assets - but it also makes you solely responsible for keeping them safe.
As phishing attacks become more sophisticated and human error remains the leading cause of crypto loss, your best defence is awareness and good security. By following simple steps and staying alert, you can enjoy the freedom of self-custody whilst being vigilant against the risks.
Got more questions? Reach out to our agents via our live chat. Alternatively, contact us in the Jiggle app or send us an email at [email protected]. Whatever you chose, our agents are available 24/7 and will be able to assist you!
Jiggle is not affiliated with any third-party platforms, external links, or any other third-party resources mentioned in this article. As such, Jiggle cannot guarantee the performance of third-party products or services, or that the steps shown and the information provided will always be accurate.