Bitcoin Forum

"Anxiety about cryptocurrency wallet hacking, 3-way security system completely protects against hackers”

As there has been a spate of exchange hacks, the importance of security is rising. Especially, security wallet and authentication technology are emerging in order to safely store and transact cryptocurrencies safely.

Cryptocurrency itself is usually stored in a blockchain. Each investor holds a wallet in which the cryptocurrency is stored. It has its own account and has a separate key that is accessible.

Hackers seeking cryptocurrencies steal this key and try to steal them by accessing cryptocurrency accounts. Therefore, cryptocurrency exchanges make efforts into hot and cold wallets with robust key management to solve the security problems.

There are two main solutions to prevent cryptocurrency hacking. First, 'Multisig' is known as a way to generate transactions by having two or more signatures. It is a principle to prevent hacking by distributing the key to the exchange and individual users respectively.

Another way is a triple security. Berith Smart Wallet is a representative example, launched along with Berith Blockchain Mainnet which is the integrated blockchain business platform.

Berith Smart Wallet is characterized by a three-way security wallet - login password, private key, and transaction approval number. In addition, private key backup is supported by server or application depending on user selection in case of loss of the private key.

MyEtherWallet has been criticized for not enough preparation from the risk of hacking such as phishing sites. However, it is a common opinion within the industry that if the security system is strengthened through a 3-way security such as Berith smart wallet, it can be sufficiently removed from the threat of hacking.

Berith said, "In the case of multi-sig, we can say that the password and the key are constructed at the same time. The 3-way security of Berith smart wallet has three security structure, including password, individual key and transaction approval number. It is not only equipped with such a secure environment but also improved user convenience.”


[Source] https://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=004&oid=030&aid=0002749010

This looks more like a sponsored article. If people got the right education before joining the crypto scene, most of the hacks would've been easily avoided but since people just join for the money, they are careless about anything else.

At this point, If you want security, just go with Trezor or Ledgerwallet. Both have proven that they are very secure and reliable.

yes many crypto security systems have been developed, many personal wallets are being conveyed, maybe I just added a little of my knowledge about personal wallet systems such as samurai, metasmak, and of course there are many more security systems in the crypto world.

It looks like you are advertising this Berith Smart Wallet. Never heard of it though, but I guess if everyone would just be careful, not clicking phished sites and storing our private keys offline then its enough. We should use our common sense and take every precautions known to us. Storing in a hardware wallet is good as well specially if you're holding huge amount of coins. As for Berith Smart Wallet, I think we need some reviews or at least a vouch from someone here to say that the wallet is really safe.

This berith has try to upgrade and put some security. Hackers has stolen many coins from people wallet and if you visit some forums you will find out hundreds of investors complaining on how their wallets has been hacked especially myetherwallet. I am some how lucky having many wallet but has not been hacked. Some applications also do make mistakes in filling Google docks online with their privates keys. I have see this from in air drop group and some baunty on this forum. Becarefull hackers are hanging around to take advantage.

The three step authentication process is vital to prevent the hacking. This multi step verification should be a must for most trading platforms and wallets.

This three way security will help to protect against hackers. Cryptos are very valuable and hackers are always trying to steal some. This might be enough to be safe from them.

If you need to log into an exchange to conduct a transaction, you do not own your private keys.  Maintaining the security of your private keys is absolutely critical. The first step is to make sure you are encrypting your wallet and keeping a safe backup of your wallet/keys/seed phrase.

After looking at this point it seems that you are fishing for merit.

but i will comment.. the main thing to understand is that no matter how many of login security levels exchange has, if it is hacked your funds will be free for steeling. So if you want to be safe, save your tokens on of blockchain wallet.