Just yesterday I come across one youtuber where he says
he just wake up and saw his 50 btc was vanish from his exodus wallet and also before that another 20 btc was vanish
he says he dont even know how this happen.
pls how can I escape this.
There's a one common attack that hackers used on cryptocurrency investors, it's called Phone-Porting attack, How Phone Porting works ? Well a hacker uses your mobile number and your name to take over your mobile account, they do this by talking to your mobile carrier while impersonating you, either over the phone or in a store, and asking it to port your number to a new service or device. Once the attacker take over your phone number, they can go into your cryptocurrency exchange account by resettings the password, ultimately stealing cryptocurrencies from the account. Here's how you can protect your self to it by the investors and experts itself.
1. Before you open up an account on Coinbase [or other exchanges], set up an unique email that you are going to use for that account.
2. Make sure to set a really hard and long password, and you are the only one to access it from a piece of paper that you control.
3. On Coinbase, turn off SMS-based two-factor authentication and account recovery for your email account. If you move to Google Authenticator but don't turn off SMS account recovery, a phone port attack can still lead to an email compromise.
4. On Coinbase, turn off SMS-based two-factor authentication and account recovery for your email account. If you move to Google Authenticator but don't turn off SMS account recovery, a phone port attack can still lead to an email compromise.
5. On Coinbase, setup the Coinbase Vault and two-factor authentication for any sends off-site.
6. Don't talk about cryptocurrency publicly, especially on social media.
7. Call your cellphone provider, put every level of security you possibly can, and add a passcode to it. The next level protection is to add a "do not port" SIM card to your account. That can last for a year.
8. Even though Coinbase says it takes security seriously and has system designs to protect customers, it's not a bank. Don't trust it as such.protect customers, it's not a bank. Don't trust it as such.
Note:
Don't keep all your cryptocurrency investments in one place. Diversify among exchanges. It's unlikely you are going to get hacked at the same time through all of them. Especially if you have different emails and passwords for each.
