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Crypto Extraction
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Prepare your FDUSD for the next Binance launchpool, SAGA. Those who have Stake BNB will be directly join the launchpool. Let's go! DYOR l
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$1 Billion Hacked and Exploited in the Past 8 Months Over the past 8 months, according to data from the REKT database, hacks and exploits have amounted to a staggering $1.307 billion in losses for users. 💸 In February 2024 alone, the Dapp ecosystem fell victim to a devastating hack, resulting in the loss of $148 million. 😱 Dappradar highlights that these losses stem primarily from exchanges and DeFi platforms. 📉 Within the exchange sector, two significant events occurred: the exit scam of Bitforex, where users were locked out of the website before its shutdown, and an exploit at FixedFloat resulting in a $26.1 million loss. 💻 On the other hand, in the DeFi sector, a breach of user private keys on PlayDapp, an Ethereum and Polygon-based play-to-earn gaming platform, led to losses of approximately $32.3 million. 🔐 It is crucial to safeguard your private keys and diversify your funds across various exchanges. 💰 To enhance security in the WEB3 sector, consider using a new wallet with only a small amount of funds and utilize the Binance Pro APP for convenient WEB3 without accessing the links. 🌐 Reference: Gherghelas, S. (2024, March 7). Crypto Hype Pushes Dapp Industry Adoption to New All-Time High with 6,7 Million Daily Wallets. DappRadar. https://dappradar.com/blog/crypto-hype-pushes-dapp-industry-adoption-to-new-all-time-high-with-67-million-daily-wallets #Dappecosystem #binanceweb3 #web3 #dapphack #hack #security #cryptosecurity #cryptoextraction 🚀
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👋 Have you secured your crypto centralized exchange? 🛡️ There are 3 layers of security to be applied on securing your crypto centralized exchange: Layer 1: Find a reputable exchange with a great history, team, and founder. Remember humans are a great investment because we trade with other humans. 👥 Place a strong password on your CEX, make sure it is not only 8 words or signs, the longer the better, and don’t use the same password on any other of your accounts. 🔒 If there is an update on the CEX application, please update it as they might reduce bugs or add extra security. 📲 Layer 2: Once you are done with layer 1, now it's time to set up your 2FA (two-factor authentication). SMS 2FA is no longer safe and not recommended anymore due to the possibility of SIM swap. 📵 Email 2FA is better than SMS. Make sure you use a 2FA app on your email instead of SMS 2FA. 📧 Application 2FA is more sophisticated compared to SMS or email 2FA. Examples are Google Authenticator or Authy. 🔑 Layer 3: Biometrics are used to prevent other people from using your ID, for instance, face biometrics or fingerprint. 🤖 YubiKey is the highest level of security that you may need as your account goes higher. This is a physical key that needs to be plugged when you enter your account, so other people can’t enter your account without it. Compared to all 2FA that are available in layer 2 that are free to access and create without buying anything, YubiKey needs additional investment as it has a price tag on it and makes your account more secure. 🔑🔒 📝 Notes: This is for CEX security only. If you are heavily into DeFi, we recommend using a hardware wallet and remembering where you place your key. 💡 {crypto, cryptosecurity, security, biometric, yubikey, 2fa] #crypto #cryptoextraction #cryposecurity #crypto2fa #2fa #cefi #centralized #exchange
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Don’t trust and verify it, Satoshi. Satoshi emphasized the need for fast distribution and validation of transactions, with a maximum processing time of 10 seconds across all nodes, to prevent double spending💰. When a node receives a transaction, it must quickly validate and spread the information to all nodes to prevent attackers from spending the same amount in another transaction. 🚀 Fast distribution and validation can outcompete other nodes that have seen the same transaction from the same spender. Reference: Satoshi. (2010, July 29). Re: Scalability and transaction rate. Bitcoin Forum. https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
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