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Vitalik Buterin’s X Account Hacked Due to SIM-Swap Attack? 📲
Vitalik Buterin's T-Mobile account was recently compromised by a #SIM-swap attack, exposing vulnerabilities in online security.
This led to his Twitter account being hacked, resulting in users losing over $691,000 in a scam.
#Buterin 's experience highlights the risks of using phone numbers for authentication, even without 2FA. It's a reminder for users to detach their phone numbers from Twitter and strengthen online security.
The incident also prompted calls for improved #2FA adoption. Notably, T-Mobile has faced previous lawsuits related to SIM-swap attacks, raising concerns about their security measures.
#Binance
#crypto2023
Vitalik Buterin's T-Mobile account was recently compromised by a #SIM-swap attack, exposing vulnerabilities in online security.
This led to his Twitter account being hacked, resulting in users losing over $691,000 in a scam.
#Buterin 's experience highlights the risks of using phone numbers for authentication, even without 2FA. It's a reminder for users to detach their phone numbers from Twitter and strengthen online security.
The incident also prompted calls for improved #2FA adoption. Notably, T-Mobile has faced previous lawsuits related to SIM-swap attacks, raising concerns about their security measures.
#Binance
#crypto2023
What Is 2FA Authentication, and Why Do You Need It?
What Is 2FA Authentication?
Two-Factor Authentication (2FA) is a crucial security measure that enhances the traditional password model by introducing an additional layer of protection—a second barrier that strengthens the defenses guarding your online presence.
In essence, 2FA acts as a shield, standing between your online identity and potential malicious actors aiming to exploit it.
Why Do You Need 2FA Authentication?
Passwords have long been a prevalent form of authentication, but they come with significant limitations. They can be susceptible to various attacks, including brute force attacks, where an attacker systematically attempts various password combinations until they succeed in gaining access.
Furthermore, users frequently employ weak or easily guessable passwords, which further jeopardize their security. The increasing frequency of data breaches and the sharing of compromised passwords across multiple online services have also undermined the security of passwords.
Tips for Using 2FA Effectively
Setting up your 2FA is just the beginning of keeping your accounts secure. To maintain optimal security, it’s crucial to follow best practices consistently.
These practices include regularly updating your authenticator app, enabling 2FA on all eligible accounts to mitigate security threats across your online presence, and consistently employing strong, unique passwords.
Additionally, it’s imperative to remain vigilant against potential pitfalls and mistakes. This entails never sharing your OTPs with anyone, staying alert to phishing scams, and meticulously verifying the authenticity of requests you receive.
In the event of losing a device used for 2FA, it’s essential to take immediate action by revoking access and updating your 2FA settings across all your accounts to ensure ongoing security.
$BTC $BNB
#WebGTR #2FAAuthenticator #2FA #bitcoin #Binance
Two-Factor Authentication (2FA) is a crucial security measure that enhances the traditional password model by introducing an additional layer of protection—a second barrier that strengthens the defenses guarding your online presence.
In essence, 2FA acts as a shield, standing between your online identity and potential malicious actors aiming to exploit it.
Why Do You Need 2FA Authentication?
Passwords have long been a prevalent form of authentication, but they come with significant limitations. They can be susceptible to various attacks, including brute force attacks, where an attacker systematically attempts various password combinations until they succeed in gaining access.
Furthermore, users frequently employ weak or easily guessable passwords, which further jeopardize their security. The increasing frequency of data breaches and the sharing of compromised passwords across multiple online services have also undermined the security of passwords.
Tips for Using 2FA Effectively
Setting up your 2FA is just the beginning of keeping your accounts secure. To maintain optimal security, it’s crucial to follow best practices consistently.
These practices include regularly updating your authenticator app, enabling 2FA on all eligible accounts to mitigate security threats across your online presence, and consistently employing strong, unique passwords.
Additionally, it’s imperative to remain vigilant against potential pitfalls and mistakes. This entails never sharing your OTPs with anyone, staying alert to phishing scams, and meticulously verifying the authenticity of requests you receive.
In the event of losing a device used for 2FA, it’s essential to take immediate action by revoking access and updating your 2FA settings across all your accounts to ensure ongoing security.
$BTC $BNB
#WebGTR #2FAAuthenticator #2FA #bitcoin #Binance
Stay #SAFU on X and other socials.
@JasonYanowitz on X narrates his #hack odeal.
I got hacked yesterday. At the risk of looking foolish, I'll share how it happened so you can avoid this nightmare. For the past few weeks, people have been trying to get into my accounts. #Crypto accounts, email, twitter, etc... every few days I get an email that someone is trying to access one of my accounts. Thankfully I have non-text #2FA set up for everything so nothing got hacked. So when I got back from dinner last night and saw this email, I panicked.
Someone in North Cyprus had finally managed to hack into my account. I guess my security wasn't strong enough and they found a loophole.
I clicked the link to "secure my account". I entered my username and password, updated to a new password, and voila: I'm back in. Crisis averted. Or so I thought. Moments later, I got an email saying my email address had been changed.
This was the real hack.
I was now officially locked out of my account. So how did this happen? It turns out the original email, which looks incredibly real, was not so real. Most email clients hide the actual address.
But when you expand it, you can see that this email was sent from "verify@x-notify.com" Fake address. I got phished. Very foolish mistake. I don't open Google Docs when they're sent to me. I don't click links. I typically check addresses. But Friday 8pm after a long week, they got me. I am aware this thread exposes a pretty dumb mistake but if I can save one person from this same mistake, it's worth it.
Some takeaways:
- Don't click links
- If you do click a link, review the actual email address
- Set up non-text 2FA on everything
- If you've done that, trust your own security process
- If you think you've been hacked, slow down and think about how this could have happened
Big thank you to @KeithGrossman and some folks at X for helping me get my account back so quickly.
If you're still reading, go read the self-audit series from @samczsun.
And this best practices from @bobbyong.
Lot more you can do but start there. #phishing
@JasonYanowitz on X narrates his #hack odeal.
I got hacked yesterday. At the risk of looking foolish, I'll share how it happened so you can avoid this nightmare. For the past few weeks, people have been trying to get into my accounts. #Crypto accounts, email, twitter, etc... every few days I get an email that someone is trying to access one of my accounts. Thankfully I have non-text #2FA set up for everything so nothing got hacked. So when I got back from dinner last night and saw this email, I panicked.
Someone in North Cyprus had finally managed to hack into my account. I guess my security wasn't strong enough and they found a loophole.
I clicked the link to "secure my account". I entered my username and password, updated to a new password, and voila: I'm back in. Crisis averted. Or so I thought. Moments later, I got an email saying my email address had been changed.
This was the real hack.
I was now officially locked out of my account. So how did this happen? It turns out the original email, which looks incredibly real, was not so real. Most email clients hide the actual address.
But when you expand it, you can see that this email was sent from "verify@x-notify.com" Fake address. I got phished. Very foolish mistake. I don't open Google Docs when they're sent to me. I don't click links. I typically check addresses. But Friday 8pm after a long week, they got me. I am aware this thread exposes a pretty dumb mistake but if I can save one person from this same mistake, it's worth it.
Some takeaways:
- Don't click links
- If you do click a link, review the actual email address
- Set up non-text 2FA on everything
- If you've done that, trust your own security process
- If you think you've been hacked, slow down and think about how this could have happened
Big thank you to @KeithGrossman and some folks at X for helping me get my account back so quickly.
If you're still reading, go read the self-audit series from @samczsun.
And this best practices from @bobbyong.
Lot more you can do but start there. #phishing
VERY IMPORTANT! 🚨🔐
Use strong passwords for your exchange and wallet accounts, and enable two-factor authentication (2FA) whenever possible. This adds an extra layer of security.
#cryptocurrency #2FA #BTC #Binance #binanceacademy
Use strong passwords for your exchange and wallet accounts, and enable two-factor authentication (2FA) whenever possible. This adds an extra layer of security.
#cryptocurrency #2FA #BTC #Binance #binanceacademy
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Binance Academy
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What Is Two-Factor Authentication (2FA)?
TL;DR
Two-Factor Authentication (2FA) is a security mechanism that requires users to provide two distinct forms of verification before gaining access to an account or system.
Typically, these factors involve something the user knows (a password) and something the user has (a smartphone-generated one-time code), adding an additional layer of protection against unauthorized access.
Types of 2FA include SMS-based codes, authenticator apps, hardware tokens (YubiKey), biometrics (like fingerprint or facial recognition), and email-based codes.
2FA is particularly crucial for the safeguarding of your financial and investment accounts, including those associated with cryptocurrency.
Introduction
The significance of robust online security can’t be overstated today when our lives are increasingly intertwined with the online realm. We constantly share our sensitive data, from addresses, phone number, ID data, to credit card information across numerous online platforms.
Yet, our primary line of defense is generally a username and password, which has proven itself vulnerable to hacking attempts and data breaches time and again. This is where Two-Factor Authentication (2FA) emerges as a formidable safeguard against these dangers.
Two-Factor Authentication (2FA) is a pivotal security measure that goes beyond the traditional password model and introduces an additional layer of security: a second barrier that fortifies the walls safeguarding your online presence.
At its core, 2FA is the shield that stands between our online presence and the potential malevolent forces seeking to exploit it.
What Is 2FA Authentication?
2FA is a multi-layered security mechanism designed to verify the identity of a user before granting access to a system. Unlike the traditional username and password combination, 2FA adds an additional layer of protection by requiring users to provide two distinct forms of identification:
1. Something you know
This is typically your password, a secret that only you should know. It serves as the first line of defense, a gatekeeper to your digital identity.
2. Something you have
The second factor introduces an external element that only the legitimate user possesses. This could be a physical device (like a smartphone or hardware token such as YubiKey, RSA SecurID tokens, and Titan Security Key), a one-time code generated by an authenticator app, or even biometric data (such as fingerprint or face recognition).
The magic of 2FA lies in the combination of these two factors, creating a robust defense against unauthorized access. Even if a malicious actor manages to obtain your password, they would still need the second factor to gain entry.
This two-pronged approach significantly raises the bar for potential attackers, making it considerably more challenging to breach your security.
Why Do You Need 2FA Authentication?
Passwords have been a long-standing and ubiquitous form of authentication, but they have notable limitations. They can be vulnerable to a range of attacks, including brute force attacks, where an attacker systematically tries various password combinations until they gain access.
Additionally, users often use weak or easily guessable passwords, further compromising their security. The rise of data breaches and the sharing of compromised passwords across multiple online services have also rendered passwords less secure.
A recent case in point involves the hack of Ethereum co-founder Vitalik Buterin's X account (formerly Twitter), which posted a malicious phishing link, resulting in the theft of nearly $700,000 from people's crypto wallets.
Although the specifics of the hack remain undisclosed, it underscores the significance of access security. While not immune to attacks, 2FA significantly increases the difficulty for unauthorized individuals attempting to access your accounts.
Where Can You Use 2FA Authentication?
The most common 2FA applications include:
1. Email accounts
Leading email providers like Gmail, Outlook, and Yahoo offer 2FA options to protect your inbox from unauthorized access.
2. Social media
Platforms like Facebook, X (formerly Twitter), and Instagram encourage users to enable 2FA to secure their profiles.
3. Financial services
Banks and financial institutions often implement 2FA for online banking, ensuring the safety of your financial transactions.
4. E-commerce
Online shopping websites like Amazon and eBay provide 2FA options to safeguard your payment information.
5. Workplace and business
Many companies mandate the use of 2FA to protect sensitive corporate data and accounts.
2FA authentication has increasingly become a ubiquitous and indispensable feature, enhancing security across a wide range of online interactions.
Different Types of 2FAs and Their Pros and Cons
There are various types of Two-Factor Authentication (2FA), each with their advantages and potential drawbacks.
1. SMS-based 2FA
SMS-based 2FA involves receiving a one-time code via text message on your registered mobile phone after entering your password.
The advantages of this method is that it’s highly accessible, as almost everyone has a mobile phone capable of receiving text messages. It’s also easy as it doesn't require additional hardware or apps.
But the limitations are that it’s vulnerable to SIM swapping attacks, where someone can hijack your phone number and intercept your SMS messages. This type of 2FA is also reliant on cellular networks, as the SMS delivery may be delayed or fail in areas with poor network coverage.
2. Authenticator apps 2FA
Authenticator apps such as Google Authenticator and Authy generate time-based One-Time Passwords (OTPs) without the need for an internet connection.
The benefits include offline access, as these work even without internet connection, and multi-account support, which means that a single app can generate OTPs for multiple accounts.
The drawbacks include the requirement of setting up, which could be slightly more complex than SMS-based 2FA. It’s also device dependent, because you need the app on your smartphone or another device.
3. Hardware tokens 2FA
Hardware tokens are physical devices that generate OTPs. Some popular ones include YubiKey, RSA SecurID tokens, and Titan Security Key.
These hardware tokens are typically compact and portable, resembling keychain fobs or USB-like devices. Users must carry them to use them for authentication.
The advantages are that these are highly secure, because they are offline and immune to online attacks. These tokens often have a long battery life of several years.
The limitations are that users need to buy them, which incurs an initial cost. Additionally, these devices could be lost or damaged, which require users to buy a replacement.
4. Biometrics 2FA
Biometric 2FA uses unique physical characteristics such as fingerprints and facial recognition to verify identity.
Its pros include high accuracy and being user-friendly, which is convenient for users who prefer not to remember codes.
The potential drawbacks include privacy concerns, as biometrics data must be securely stored to prevent misuse. Biometric systems can also occasionally produce errors.
5. Email-Based 2FA
Email-based 2FA sends a one-time code to your registered email address. This method is familiar to most users and requires no additional apps or devices. But it’s susceptible to email compromises that could lead to insecure 2FA. Email delivery would also sometimes be delayed.
How to Choose the Right Type of 2FA?
The choice of 2FA method should consider factors such as the level of security required, user convenience, and the specific use case.
For high-security situations like financial accounts or crypto exchange accounts, hardware tokens or authenticator apps may be preferred.
In cases where accessibility is crucial, SMS-based 2FA or email-based 2FA could be more suitable. Biometrics are excellent for devices with built-in sensors, but privacy and data protection must be priorities.
Step-by-Step Guide for Setting Up 2FA
Let’s walk you through the essential steps to set up Two-Factor Authentication (2FA) on various platforms. The steps may differ depending on the platform, but they generally follow the same logic.
1. Choose your 2FA method
Depending on the platform and your preference, select the 2FA method that suits you best, whether it’s SMS-based, authenticator app, hardware token, or others. If you decide to use an authenticator app or a hardware token, you would need to purchase and install them first.
2. Enable 2FA in your account settings
Log in to the platform or service where you want to enable 2FA, and navigate to your account settings or security settings. Find Two-Factor Authentication option and enable it.
3. Choose a backup method
Many platforms offer backup methods in case you lose access to your primary 2FA method. You can opt for a backup method such as backup codes or secondary authenticator apps when available.
4. Follow setup instructions to verify your setup
Follow the setup instructions for your chosen 2FA method. This usually involves scanning a QR code with an authenticator app, linking your phone number for SMS-based 2FA, or registering a hardware token. Complete the setup process by entering the verification code provided by your chosen 2FA method.
5. Secure backup codes
If you receive backup codes, store them in a safe and accessible place, preferably offline. You can print or write them down and keep them in a locked drawer, or securely store them in a password manager. These codes can be used if you ever lose access to your primary 2FA method.
Once you've set up 2FA, it's crucial to use it effectively while avoiding common pitfalls and ensuring your backup codes are secure.
Tips for Using 2FA Effectively
Setting up your 2FA is just the beginning of keeping your accounts secure. You need to follow best practices while using them.
These include regularly updating your authenticator app, enabling 2FA on all eligible accounts to prevent security threats to your other online accounts, and continuing using strong and unique passwords.
You also need to remain cautious against potential pitfalls or mistakes. This includes never sharing your OTPs with anyone, stay alert to phishing scams, and always verify the authenticity of requests you receive.
If you ever lose a device used for 2FA, you must immediately revoke access and update your 2FA settings across all accounts.
Closing Thoughts
The biggest take away from this article is that 2FA isn't an option, it's a necessity.
The ongoing prevalence of security breaches and the consequential losses we witness daily serve as a stark reminder to adopt Two-Factor Authentication (2FA) for your accounts. This becomes particularly crucial for the safeguarding of your financial and investment accounts, including those associated with cryptocurrency.
So, get to your computer, pick up your phone, or buy a hardware token and set up your 2FA right now. It’s an empowerment that gives you the control over your digital safety and protects your valued assets.
If you already have 2FA set up, remember that keeping safe online is a dynamic process. New technologies and new attacks will continue to emerge. You must stay informed and vigilant to stay secure.
Further Reading
Common Scams on Mobile Devices
5 Common Cryptocurrency Scams and How to Avoid Them
Why Public WiFi Is Insecure
Common Bitcoin Scams and How to Avoid Them
Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Two-Factor Authentication (2FA) is a security mechanism that requires users to provide two distinct forms of verification before gaining access to an account or system.
Typically, these factors involve something the user knows (a password) and something the user has (a smartphone-generated one-time code), adding an additional layer of protection against unauthorized access.
Types of 2FA include SMS-based codes, authenticator apps, hardware tokens (YubiKey), biometrics (like fingerprint or facial recognition), and email-based codes.
2FA is particularly crucial for the safeguarding of your financial and investment accounts, including those associated with cryptocurrency.
Introduction
The significance of robust online security can’t be overstated today when our lives are increasingly intertwined with the online realm. We constantly share our sensitive data, from addresses, phone number, ID data, to credit card information across numerous online platforms.
Yet, our primary line of defense is generally a username and password, which has proven itself vulnerable to hacking attempts and data breaches time and again. This is where Two-Factor Authentication (2FA) emerges as a formidable safeguard against these dangers.
Two-Factor Authentication (2FA) is a pivotal security measure that goes beyond the traditional password model and introduces an additional layer of security: a second barrier that fortifies the walls safeguarding your online presence.
At its core, 2FA is the shield that stands between our online presence and the potential malevolent forces seeking to exploit it.
What Is 2FA Authentication?
2FA is a multi-layered security mechanism designed to verify the identity of a user before granting access to a system. Unlike the traditional username and password combination, 2FA adds an additional layer of protection by requiring users to provide two distinct forms of identification:
1. Something you know
This is typically your password, a secret that only you should know. It serves as the first line of defense, a gatekeeper to your digital identity.
2. Something you have
The second factor introduces an external element that only the legitimate user possesses. This could be a physical device (like a smartphone or hardware token such as YubiKey, RSA SecurID tokens, and Titan Security Key), a one-time code generated by an authenticator app, or even biometric data (such as fingerprint or face recognition).
The magic of 2FA lies in the combination of these two factors, creating a robust defense against unauthorized access. Even if a malicious actor manages to obtain your password, they would still need the second factor to gain entry.
This two-pronged approach significantly raises the bar for potential attackers, making it considerably more challenging to breach your security.
Why Do You Need 2FA Authentication?
Passwords have been a long-standing and ubiquitous form of authentication, but they have notable limitations. They can be vulnerable to a range of attacks, including brute force attacks, where an attacker systematically tries various password combinations until they gain access.
Additionally, users often use weak or easily guessable passwords, further compromising their security. The rise of data breaches and the sharing of compromised passwords across multiple online services have also rendered passwords less secure.
A recent case in point involves the hack of Ethereum co-founder Vitalik Buterin's X account (formerly Twitter), which posted a malicious phishing link, resulting in the theft of nearly $700,000 from people's crypto wallets.
Although the specifics of the hack remain undisclosed, it underscores the significance of access security. While not immune to attacks, 2FA significantly increases the difficulty for unauthorized individuals attempting to access your accounts.
Where Can You Use 2FA Authentication?
The most common 2FA applications include:
1. Email accounts
Leading email providers like Gmail, Outlook, and Yahoo offer 2FA options to protect your inbox from unauthorized access.
2. Social media
Platforms like Facebook, X (formerly Twitter), and Instagram encourage users to enable 2FA to secure their profiles.
3. Financial services
Banks and financial institutions often implement 2FA for online banking, ensuring the safety of your financial transactions.
4. E-commerce
Online shopping websites like Amazon and eBay provide 2FA options to safeguard your payment information.
5. Workplace and business
Many companies mandate the use of 2FA to protect sensitive corporate data and accounts.
2FA authentication has increasingly become a ubiquitous and indispensable feature, enhancing security across a wide range of online interactions.
Different Types of 2FAs and Their Pros and Cons
There are various types of Two-Factor Authentication (2FA), each with their advantages and potential drawbacks.
1. SMS-based 2FA
SMS-based 2FA involves receiving a one-time code via text message on your registered mobile phone after entering your password.
The advantages of this method is that it’s highly accessible, as almost everyone has a mobile phone capable of receiving text messages. It’s also easy as it doesn't require additional hardware or apps.
But the limitations are that it’s vulnerable to SIM swapping attacks, where someone can hijack your phone number and intercept your SMS messages. This type of 2FA is also reliant on cellular networks, as the SMS delivery may be delayed or fail in areas with poor network coverage.
2. Authenticator apps 2FA
Authenticator apps such as Google Authenticator and Authy generate time-based One-Time Passwords (OTPs) without the need for an internet connection.
The benefits include offline access, as these work even without internet connection, and multi-account support, which means that a single app can generate OTPs for multiple accounts.
The drawbacks include the requirement of setting up, which could be slightly more complex than SMS-based 2FA. It’s also device dependent, because you need the app on your smartphone or another device.
3. Hardware tokens 2FA
Hardware tokens are physical devices that generate OTPs. Some popular ones include YubiKey, RSA SecurID tokens, and Titan Security Key.
These hardware tokens are typically compact and portable, resembling keychain fobs or USB-like devices. Users must carry them to use them for authentication.
The advantages are that these are highly secure, because they are offline and immune to online attacks. These tokens often have a long battery life of several years.
The limitations are that users need to buy them, which incurs an initial cost. Additionally, these devices could be lost or damaged, which require users to buy a replacement.
4. Biometrics 2FA
Biometric 2FA uses unique physical characteristics such as fingerprints and facial recognition to verify identity.
Its pros include high accuracy and being user-friendly, which is convenient for users who prefer not to remember codes.
The potential drawbacks include privacy concerns, as biometrics data must be securely stored to prevent misuse. Biometric systems can also occasionally produce errors.
5. Email-Based 2FA
Email-based 2FA sends a one-time code to your registered email address. This method is familiar to most users and requires no additional apps or devices. But it’s susceptible to email compromises that could lead to insecure 2FA. Email delivery would also sometimes be delayed.
How to Choose the Right Type of 2FA?
The choice of 2FA method should consider factors such as the level of security required, user convenience, and the specific use case.
For high-security situations like financial accounts or crypto exchange accounts, hardware tokens or authenticator apps may be preferred.
In cases where accessibility is crucial, SMS-based 2FA or email-based 2FA could be more suitable. Biometrics are excellent for devices with built-in sensors, but privacy and data protection must be priorities.
Step-by-Step Guide for Setting Up 2FA
Let’s walk you through the essential steps to set up Two-Factor Authentication (2FA) on various platforms. The steps may differ depending on the platform, but they generally follow the same logic.
1. Choose your 2FA method
Depending on the platform and your preference, select the 2FA method that suits you best, whether it’s SMS-based, authenticator app, hardware token, or others. If you decide to use an authenticator app or a hardware token, you would need to purchase and install them first.
2. Enable 2FA in your account settings
Log in to the platform or service where you want to enable 2FA, and navigate to your account settings or security settings. Find Two-Factor Authentication option and enable it.
3. Choose a backup method
Many platforms offer backup methods in case you lose access to your primary 2FA method. You can opt for a backup method such as backup codes or secondary authenticator apps when available.
4. Follow setup instructions to verify your setup
Follow the setup instructions for your chosen 2FA method. This usually involves scanning a QR code with an authenticator app, linking your phone number for SMS-based 2FA, or registering a hardware token. Complete the setup process by entering the verification code provided by your chosen 2FA method.
5. Secure backup codes
If you receive backup codes, store them in a safe and accessible place, preferably offline. You can print or write them down and keep them in a locked drawer, or securely store them in a password manager. These codes can be used if you ever lose access to your primary 2FA method.
Once you've set up 2FA, it's crucial to use it effectively while avoiding common pitfalls and ensuring your backup codes are secure.
Tips for Using 2FA Effectively
Setting up your 2FA is just the beginning of keeping your accounts secure. You need to follow best practices while using them.
These include regularly updating your authenticator app, enabling 2FA on all eligible accounts to prevent security threats to your other online accounts, and continuing using strong and unique passwords.
You also need to remain cautious against potential pitfalls or mistakes. This includes never sharing your OTPs with anyone, stay alert to phishing scams, and always verify the authenticity of requests you receive.
If you ever lose a device used for 2FA, you must immediately revoke access and update your 2FA settings across all accounts.
Closing Thoughts
The biggest take away from this article is that 2FA isn't an option, it's a necessity.
The ongoing prevalence of security breaches and the consequential losses we witness daily serve as a stark reminder to adopt Two-Factor Authentication (2FA) for your accounts. This becomes particularly crucial for the safeguarding of your financial and investment accounts, including those associated with cryptocurrency.
So, get to your computer, pick up your phone, or buy a hardware token and set up your 2FA right now. It’s an empowerment that gives you the control over your digital safety and protects your valued assets.
If you already have 2FA set up, remember that keeping safe online is a dynamic process. New technologies and new attacks will continue to emerge. You must stay informed and vigilant to stay secure.
Further Reading
Common Scams on Mobile Devices
5 Common Cryptocurrency Scams and How to Avoid Them
Why Public WiFi Is Insecure
Common Bitcoin Scams and How to Avoid Them
Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
📊 The #SEC increased control over the #Crypto sector last year, carrying out 46 lawsuits related to #blockchain companies.
Compared to the year 2022, this figure represents a 53% increase 📈
All this trouble to get their 𝕏 account hacked because they can't enable the #2FA 😅
Compared to the year 2022, this figure represents a 53% increase 📈
All this trouble to get their 𝕏 account hacked because they can't enable the #2FA 😅
GO AND ADD #2FA !
#2FA which means Two Factor Authentication (Refer to my previous Posts on Crypto Acronyms) is the only way to avoid someone else from accessing your account easily as it adds another layer of security to your account and an OTP will be sent to you anytime an attempt is made to login to your account or to send out funds from your account.
You can add your #2FA by clicking on the #security tab on your Binance dashboard or Homepage.
Phone number(or email), Google Authenticator, Binance Authenticator are the most common options.
In addition, you can also add a passcode.
#2FA which means Two Factor Authentication (Refer to my previous Posts on Crypto Acronyms) is the only way to avoid someone else from accessing your account easily as it adds another layer of security to your account and an OTP will be sent to you anytime an attempt is made to login to your account or to send out funds from your account.
You can add your #2FA by clicking on the #security tab on your Binance dashboard or Homepage.
Phone number(or email), Google Authenticator, Binance Authenticator are the most common options.
In addition, you can also add a passcode.
🔐#Write2Earn #2FA #ProtectYourCrypto
🛡️How can I protect ♻️ my account?
🔑 If you have registered with the exchange or chosen a trading method, you should follow standard practices to protect your account. These tips are no different than what you would do with your online banking or other sensitive data. You can easily prevent others from accessing your account and funds.
1️⃣-Use a strong password and change it regularly. The password should not contain identifiable personal information, such as date of birth. The password should be long, used only for the given account, and contain symbols, numbers, and upper and lower case letters.
2️⃣-Turn on two-factor authentication (2FA). If your password is stolen, 2FA authentication using a mobile device or authentication app, or the YubiKey can act as a second line of defense. You must use your password and the 2FA method together when logging in.
3️⃣-Watch out for phishing attacks and scams via email, social media and private messages. Fraudsters often pretend to be representatives of stock exchanges and other trustworthy people in an attempt to steal your funds . Also, do not download software from unknown sources as it may contain malware.
⚠️ For more details on how to keep your account secure 🔐👇
📍READ OUR GUIDE📍
🛡️How can I protect ♻️ my account?
🔑 If you have registered with the exchange or chosen a trading method, you should follow standard practices to protect your account. These tips are no different than what you would do with your online banking or other sensitive data. You can easily prevent others from accessing your account and funds.
1️⃣-Use a strong password and change it regularly. The password should not contain identifiable personal information, such as date of birth. The password should be long, used only for the given account, and contain symbols, numbers, and upper and lower case letters.
2️⃣-Turn on two-factor authentication (2FA). If your password is stolen, 2FA authentication using a mobile device or authentication app, or the YubiKey can act as a second line of defense. You must use your password and the 2FA method together when logging in.
3️⃣-Watch out for phishing attacks and scams via email, social media and private messages. Fraudsters often pretend to be representatives of stock exchanges and other trustworthy people in an attempt to steal your funds . Also, do not download software from unknown sources as it may contain malware.
⚠️ For more details on how to keep your account secure 🔐👇
📍READ OUR GUIDE📍
cont'd
Update on the #hack theft and additional opsec lessons learned:
I have now further confirmed the #2FA bypass attack vector was a man in the middle attack. I had received an email from Indeed job search platform informing me that they received a request to delete my account within 14 days. I was in bed at the time and was doing it from my phone via the mobile Gmail app.
I hadn't used Indeed forever and don't care for it but obviously I thought it was unusual, as I didn't make such a request. Out of security precaution, I wanted to know who made such a request and wanted to check if Indeed had access logs, so I tapped it on my phone.
Because I didn't use Indeed forever, I didn't remember my password so naturally I chose Sign in with Google. It took me to Indeed and I couldn't find a request log. Because I knew my old logins were already on the darkweb I figured someone must've got into my Indeed, and so I proceeded to enable 2FA.
Honestly I didn't care much for Indeed even if it did get deleted, and thought it was just some small time hobby hacker messing around with an old login from some old exposed database leak.
Turns out the Indeed email was a #spoofed phishing attack. The Indeed link I tapped in the Gmail app, was a scripted South Korean web link, which in turn routed me to some fake Indeed site, which captured my Sign in With Google, then routed me to the real Indeed site. They hijacked the session cookie enabling them to bypass 2FA, then accessed my Google account and abusing browser sync.
Further general opsec lessons learned:
1. Mobile Gmail app will not show the sender's true email or link URLs by default, which is a big opsec flaw. Refrain from tapping mobile links in your mobile email client.
2. Refrain from using Sign In With Google or other #oAuth features. The convenience is not worth it due to ease of phishing attacks to bypass 2FA. Even if it may not be due clicking a phishing link, a regular website could be compromised at no fault of your own. The expectations of 2FA security let my guard down.
Update on the #hack theft and additional opsec lessons learned:
I have now further confirmed the #2FA bypass attack vector was a man in the middle attack. I had received an email from Indeed job search platform informing me that they received a request to delete my account within 14 days. I was in bed at the time and was doing it from my phone via the mobile Gmail app.
I hadn't used Indeed forever and don't care for it but obviously I thought it was unusual, as I didn't make such a request. Out of security precaution, I wanted to know who made such a request and wanted to check if Indeed had access logs, so I tapped it on my phone.
Because I didn't use Indeed forever, I didn't remember my password so naturally I chose Sign in with Google. It took me to Indeed and I couldn't find a request log. Because I knew my old logins were already on the darkweb I figured someone must've got into my Indeed, and so I proceeded to enable 2FA.
Honestly I didn't care much for Indeed even if it did get deleted, and thought it was just some small time hobby hacker messing around with an old login from some old exposed database leak.
Turns out the Indeed email was a #spoofed phishing attack. The Indeed link I tapped in the Gmail app, was a scripted South Korean web link, which in turn routed me to some fake Indeed site, which captured my Sign in With Google, then routed me to the real Indeed site. They hijacked the session cookie enabling them to bypass 2FA, then accessed my Google account and abusing browser sync.
Further general opsec lessons learned:
1. Mobile Gmail app will not show the sender's true email or link URLs by default, which is a big opsec flaw. Refrain from tapping mobile links in your mobile email client.
2. Refrain from using Sign In With Google or other #oAuth features. The convenience is not worth it due to ease of phishing attacks to bypass 2FA. Even if it may not be due clicking a phishing link, a regular website could be compromised at no fault of your own. The expectations of 2FA security let my guard down.
LIVEkaymyg
--
cont'd
9. Make it a habit to regularly review your security and establish a standard operating procedure. Attackers can remain dormant and wait for the right moment to strike after waiting a very long time.
FWIW I do have a hardware wallet, this was not compromised. Yes you should use hardware wallets when you can, obviously. Also, to those who are alleging this is to dodge taxes, know that taxes from theft or hacks can no longer be deducted since after 2017.
The final tally is about $677k. Unfortunately the user has begun Tornado'ing. I do have some additional clues on the attacker but will keep it discreet at this time for the sake of continuing to determine the user identity. I've also since filed a police report and reported to the CEXs that some of my funds the attacker sent them through.
It's a long shot but I am willing to offer a $150k bounty for return of the funds, no questions asked and no further investigation. I would also consider a bounty-based forensics service (upfront pay services, don't bother). An expensive lesson, but I'm still here. A painful set back, but the show must go on.
Above investigation was prompted by this post:
(@sell9000
Just realized I got $500k drained from multiple wallet apps 46 hours ago
Think I got extension attacked, with two suspicious extensions that appeared on my chrome browser
does not feel good fam
still investigating )
9. Make it a habit to regularly review your security and establish a standard operating procedure. Attackers can remain dormant and wait for the right moment to strike after waiting a very long time.
FWIW I do have a hardware wallet, this was not compromised. Yes you should use hardware wallets when you can, obviously. Also, to those who are alleging this is to dodge taxes, know that taxes from theft or hacks can no longer be deducted since after 2017.
The final tally is about $677k. Unfortunately the user has begun Tornado'ing. I do have some additional clues on the attacker but will keep it discreet at this time for the sake of continuing to determine the user identity. I've also since filed a police report and reported to the CEXs that some of my funds the attacker sent them through.
It's a long shot but I am willing to offer a $150k bounty for return of the funds, no questions asked and no further investigation. I would also consider a bounty-based forensics service (upfront pay services, don't bother). An expensive lesson, but I'm still here. A painful set back, but the show must go on.
Above investigation was prompted by this post:
(@sell9000
Just realized I got $500k drained from multiple wallet apps 46 hours ago
Think I got extension attacked, with two suspicious extensions that appeared on my chrome browser
does not feel good fam
still investigating )
COMMONLY USED CRYPTO ACRONYMS AND MEANING (Day 3)
... Cont'd
#2FA = Two-Factor Authentication.
It helps in adding an additional layer of security through a second verification step alongside the password for granting accessibility. E.g Phone number, Google authenticator, Binance authenticator...
#P2P = Peer-To-Peer.
Refers to interactions that do not involve any intermediaries between the parties involved in the interaction.
#KYC = Know Your Customer.
This refers to the procedures which businesses should follow during the verification of customer identity.
#PnD = Pump and Dump.
Happen when an individual or a group of individuals inflate the price of a crypto asset by buying more assets, thereby creating demand. The schemers then exchange their high-priced crypto assets for profits, leaving customers with worthless assets.
... Cont'd
#2FA = Two-Factor Authentication.
It helps in adding an additional layer of security through a second verification step alongside the password for granting accessibility. E.g Phone number, Google authenticator, Binance authenticator...
#P2P = Peer-To-Peer.
Refers to interactions that do not involve any intermediaries between the parties involved in the interaction.
#KYC = Know Your Customer.
This refers to the procedures which businesses should follow during the verification of customer identity.
#PnD = Pump and Dump.
Happen when an individual or a group of individuals inflate the price of a crypto asset by buying more assets, thereby creating demand. The schemers then exchange their high-priced crypto assets for profits, leaving customers with worthless assets.
🔒✨ Great news from FriendTech, the Web3 social media app based in Base! They're now rolling out 2FA (two-factor authentication) for enhanced security. 🛡️📲
Addressing previous concerns, this step will strengthen their defenses against hackers, as noted by blockchain security experts at Slowmist. 🚫👾
Your online safety matters! Enable 2FA and enjoy a safer social media experience. 🙌🌐 #FriendTech 🚀🎮 Impressive news from the Solana-based game, SAGE Labs! 🌟
According to PolygonScan data, they hit a whopping 2.29 million daily transactions, even surpassing the entire Polygon network. 🚀🌐
SAGE Labs, part of the Star Atlas P2E metaverse game platform, has been on fire since its launch last month, with a total transaction volume exceeding 16 million. 🌌📈
The gaming world continues to push the boundaries of blockchain technology! 🎮🌐 #SAGElabs #SolanaGaming #CryptoGaming #2FA #Web3Security
Addressing previous concerns, this step will strengthen their defenses against hackers, as noted by blockchain security experts at Slowmist. 🚫👾
Your online safety matters! Enable 2FA and enjoy a safer social media experience. 🙌🌐 #FriendTech 🚀🎮 Impressive news from the Solana-based game, SAGE Labs! 🌟
According to PolygonScan data, they hit a whopping 2.29 million daily transactions, even surpassing the entire Polygon network. 🚀🌐
SAGE Labs, part of the Star Atlas P2E metaverse game platform, has been on fire since its launch last month, with a total transaction volume exceeding 16 million. 🌌📈
The gaming world continues to push the boundaries of blockchain technology! 🎮🌐 #SAGElabs #SolanaGaming #CryptoGaming #2FA #Web3Security
Enhancing Account Security: The Importance of Two-Factor Authentication and How to Set It Up Today
In the rapidly evolving world of #cryptocurrencies protecting our online accounts and digital assets has become paramount. The rise in hacking and phishing attacks highlights the need for robust security measures. One such measure is two-factor authentication ( 2FA ), which adds an extra layer of protection to your accounts. In this article, we will explore why #2FA is crucial and provide a step-by-step guide on setting it up for your #Binance account.
Why is Two-Factor Authentication Important?
Enhanced Account Security: Two-factor authentication acts as a safeguard against unauthorized access. By requiring a secondary piece of information, such as a code generated by a mobile app or a verification message sent to your phone, 2FA ensures that only authorized individuals can log in to your account.
Mitigating Phishing Attacks: Even if hackers manage to obtain your password through phishing attempts or other means, 2FA adds an extra barrier that significantly reduces the risk of unauthorized access. This layer of security makes it much more challenging for attackers to breach your account.
Protecting Digital Assets: Cryptocurrencies hold significant value, and securing them is of utmost importance. With 2FA in place, you provide an additional line of defense against potential theft or compromise of your digital assets.
Setting Up Two-Factor Authentication on Binance
Binance offers various 2FA verification methods for added convenience. Let's explore two commonly used methods: SMS authentication and Google Authenticator.
SMS Authentication:
Log into your Binance account and navigate to [Profile] - [Security] - [Passkeys and Biometrics].
Click [Manage] - [Add New Authenticator] and follow the provided instructions.
Choose SMS authentication as your verification method, and make sure to save the passkey on the device you created it on.
Google Authenticator:
Log in to your Binance account, access your settings, and navigate to [Security] - [Enable Binance/Google Authenticator Now].
Download the Google Authenticator app on your mobile device.
Complete the security verification process by entering the code sent to your email.
Launch the Google Authenticator app and scan the provided QR code or manually enter the code below the QR code.
Remember to save the backup key in a secure location to ensure recovery in case of device loss.
Drawbacks of Google Authenticator: While Google Authenticator offers robust security, it is essential to consider its limitations:
Requires installation of an additional application.
Losing your device without a backup key may result in account access loss. Safeguard your backup key to prevent any inconvenience.
Conclusion: In the ever-evolving landscape of cryptocurrencies, protecting your online accounts and assets should be a top priority. Two-factor authentication provides an additional layer of security, mitigating the risk of unauthorized access and safeguarding your digital holdings. By following the step-by-step instructions provided by Binance, you can easily set up 2FA and enjoy peace of mind knowing that your account is fortified against potential threats. Embrace the power of two-factor authentication today and take control of your account security.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#airdrop #SEC
$BTC $ETH $BNB
Why is Two-Factor Authentication Important?
Enhanced Account Security: Two-factor authentication acts as a safeguard against unauthorized access. By requiring a secondary piece of information, such as a code generated by a mobile app or a verification message sent to your phone, 2FA ensures that only authorized individuals can log in to your account.
Mitigating Phishing Attacks: Even if hackers manage to obtain your password through phishing attempts or other means, 2FA adds an extra barrier that significantly reduces the risk of unauthorized access. This layer of security makes it much more challenging for attackers to breach your account.
Protecting Digital Assets: Cryptocurrencies hold significant value, and securing them is of utmost importance. With 2FA in place, you provide an additional line of defense against potential theft or compromise of your digital assets.
Setting Up Two-Factor Authentication on Binance
Binance offers various 2FA verification methods for added convenience. Let's explore two commonly used methods: SMS authentication and Google Authenticator.
SMS Authentication:
Log into your Binance account and navigate to [Profile] - [Security] - [Passkeys and Biometrics].
Click [Manage] - [Add New Authenticator] and follow the provided instructions.
Choose SMS authentication as your verification method, and make sure to save the passkey on the device you created it on.
Google Authenticator:
Log in to your Binance account, access your settings, and navigate to [Security] - [Enable Binance/Google Authenticator Now].
Download the Google Authenticator app on your mobile device.
Complete the security verification process by entering the code sent to your email.
Launch the Google Authenticator app and scan the provided QR code or manually enter the code below the QR code.
Remember to save the backup key in a secure location to ensure recovery in case of device loss.
Drawbacks of Google Authenticator: While Google Authenticator offers robust security, it is essential to consider its limitations:
Requires installation of an additional application.
Losing your device without a backup key may result in account access loss. Safeguard your backup key to prevent any inconvenience.
Conclusion: In the ever-evolving landscape of cryptocurrencies, protecting your online accounts and assets should be a top priority. Two-factor authentication provides an additional layer of security, mitigating the risk of unauthorized access and safeguarding your digital holdings. By following the step-by-step instructions provided by Binance, you can easily set up 2FA and enjoy peace of mind knowing that your account is fortified against potential threats. Embrace the power of two-factor authentication today and take control of your account security.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#airdrop #SEC
$BTC $ETH $BNB
