The price fluctuations of cryptocurrencies are irregular and attract both investors and cybercriminals. Since its inception in 2009, there have been numerous attacks and robberies on cryptocurrency exchanges and crypto-wallets. According to Blockchain security firm CipherTrace’s “2019 Cryptocurrency Anti-Money Laundering (AML)” report, cryptocurrency crimes worldwide exceeded $ 4.3 billion in 2019. Cybercriminals have robbed over $ 125 million of different cryptocurrencies in Ethereum, Bitcoin, and other digital currencies.
How to Protect Your Wallet
1- Anti-Phishing Code Identification
Phishing scams through malicious ads and emails are widespread in the cryptocurrency world. Be careful when performing crypto transactions; avoid suspicious and unknown links.
In a recent cryptocurrency heist, a hacking group “CryptoCore” targeted cryptocurrency exchanges through targeted phishing campaigns. Attackers have targeted companies in the US and Japan since 2018, stealing $ 200 million worth of cryptocurrency over two years. With Anti-Phishing Code, you can add a layer of security to your Narkasa account against possible Phishing attacks.
2- Secure Your Device
One of the essential features to protect your account and protect its security is the 2FA system. A possible hacker attack can be prevented by connecting your devices, and your account can be kept safe. Narkasa exchange has effective two-factor authentication management, consisting of Google Authenticator, SMS Authentication, and YubiKey Authentication.
3- Change Your Password Regularly
We can’t underestimate the importance of a strong password when we talk about security. According to a study, three-quarters of Generation Y in the US use the same password on more than ten devices, apps, and other social media accounts. It was also noted that most of them used the same password in more than 50 different places. Ensure you have a strong and complex password that is difficult to guess and change your password regularly. If you have more than one wallet, use separate passwords. For additional security, select two-factor authentication (2FA).