🛡️Market Risks
Given that you have no influence over how the cryptocurrency market acts, it's better not to invest any money that you can't afford to lose. It is never a smart idea to put your life savings into a cryptocurrency. This is made much worse by the fact that many successful traders have lost everything in the hopes of making a profit.
Technology Risks
Smart Contract Exploit
Malicious actors are burning the midnight oil to profit from smart contract vulnerabilities and possible exploits such as flash loan attacks. As we've seen in the past, smart contract vulnerabilities have been exploited on several protocols, even after thorough audits by well-known and trustworthy auditing firms.
The ClickBack team has retained the services of a few security firms to execute the first smart contract audit. However, what the majority of community members do not realize is that obtaining an audit is not a one-time activity. ClickBack have gotten an audit report once and then updated their smart contracts without conducting another audit. In contrast, the ClickBack will work on a long-term basis with security research firms. Having said that, getting an audit completed does not always guarantee the safety of the user assets. Be responsible and don't invest, lock, or stake an amount you can't afford to lose anywhere.
Wallet Exploit
Due to the irreversible nature of cryptocurrency transfers, phishing attempts have exploded in popularity over the previous decade. The trick these malicious actors use is to spoof a famous website, wallet, or exchange by replicating a feature or page.
These URLs are delivered to uneducated individuals through email or messaging app, tricking them into inputting their credentials, mnemonic, seed phrase, or private keys. The fraudulent actors then totally drain the wallet's funds.
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