Steps to prevent hackings in crypto exchange websites
" Everything in this world has two phases as Every Coin has two sides".
Thus the rise of cryptocurrency price not only increased the trading volume but also paid a broad way for hackers too.The hacking of cryptocoins is also increases each day along with the rise of cryptocoin's price.
Recent Hacks on Cryptoworld :
Some of the notable attack of bitcoins in year 2018 is listed below :
In 2018, January - Coincheck, Stolen amount $534,800,000.
In 2018, April - CoinSecure, Stolen amount $3,300,000.(438 BTC)
In 2018, June - Coinrail, Stolen amount $40,000,000.
In 2018, September - Zaif, Stolen amount $60,000,000.(5,966 BTC)
In 2018, October - MapleChange, Stolen amount $6,000,000.(913BTC)
Ways to Hack Cryptocurrency :
There are many ways by which you can hack cryptocurrency.Some of the most common ways are explained below :
Through Phishing Emails :
The fraudulent practice of sending emails pretend to be from reputable companies in order to convince individuals to reveal their personal information, such as cryptocurrency account emails and passwords and other details related to cryptocoins.
You should be aware whenever you receive an email from any cryptocurrency exchange to login through a link ,to avoid getting your login credentials stolen.Always prefer browser to login to your appropriate exchange sites.
Through Phishing Exchange Sites :
Whenever you type in a browser to reach exchange sites , there will be many related ads showing the same name as your exchange sites.These are fake exchange sites created by hackers in a motto of stealing your login credentials.
Thus ,never click on those ad sites to lose your login details with hackers.Check for the right exchange site you are looking for and then login to avoid hacking of your account details.
Stealing of Email Id :
Hackers uses a way of hacking your email address that you have been using for your exchange purpose and then reset the password and make use of your account as theirs for exchange process.
Providing a 2-way Authentication , ie., whenever you login your account with email ,sending an OTP to the phone number linked to it will prevent the login of hackers.
Phone porting :
Phone porting is a way that allows hackers to hack your account even if you have provided phone number as a backup option.Hackers calls up and threaden you to transfer your phone number to their simcards and with this they collect all your details like name,DOB,account login details ,etc.
Preventing Measures for Cryptocoin Hacking :
Use Hardware wallet for storing your cryptocurrency assets.
Reduce or never openup about your crypto trading on any social profiles.
Secure your private key in a separate hardware wallet or paper.
Make use of cold wallet always to store your cryptocoins records.
Always use browser to reach exchange sites.
Prefer decentralized exchange websites for lesser attack on your account.
To know all other ways to hack cryptocurrency and prevention methods in detail just refer this blog : How To Prevent Security Breaches In Bitcoin Exchanges
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