Always Use 2Fa For Your Exchange Accounts

[jjbanks994]

Thank you for your advice. Do we believe that 2FA is strong enough though? I thought that is what became compromised during the Binance hack

[Pmalek]

Thank you for your advice. Do we believe that 2FA is strong enough though? I thought that is what became compromised during the Binance hack

During a hack of a exchange it is usually the accounts that don't have 2FA enabled that get emptied. Those that do are safe. The only way to bypass 2FA is to replicate the SIM card and get the 2FA codes sent to the duplicated SIM card.

[Daffadile]

Thank you for your advice. Do we believe that 2FA is strong enough though? I thought that is what became compromised during the Binance hack

During a hack of a exchange it is usually the accounts that don't have 2FA enabled that get emptied. Those that do are safe. The only way to bypass 2FA is to replicate the SIM card and get the 2FA codes sent to the duplicated SIM card.

I am not sure how someone would hack your F2A, somehow reroute the code to the hacker somehow? I think F2A is pretty safe. Ledger is basically an advanced F2A and the new mewconnect also acts as an advanced F2A
I am not sure if anyone has ever been hacked using F2A. It would be interesting to find out. Maybe someone who knows more then us can answer us?

[TryNinja]

I am not sure how someone would hack your F2A, somehow reroute the code to the hacker somehow? I think F2A is pretty safe. Ledger is basically an advanced F2A and the new mewconnect also acts as an advanced F2A
I am not sure if anyone has ever been hacked using F2A. It would be interesting to find out. Maybe someone who knows more then us can answer us?

You mean 2FA, right? He is talking about SMS based 2FA, which is a terrible idea. Have you never seen this? https://medium.com/coinmonks/the-most-expensive-lesson-of-my-life-details-of-sim-port-hack-35de11517124

[tbct_mt2]

2FA is not enough to secure your accounts, and more importantly secure your accounts on exchanges by yourself is not enough. Exchanges can be hacked, and you are unable to secure exchanges by yourself.
In a nutshell, activating your 2FA on exchanges is good step to enhance your accounts and your funds store on exchanges if you want to trade.
Whenever you don't have plans to trade, ie. when market turns into long-term bearish market, you should withdraw your funds from exchanges.
There you go:
Newbies - Read before using exchanges or investing
Electrum wallet - Update safely and avoid phishing wallets?

[akram143]

Thank you for your advice. Do we believe that 2FA is strong enough though? I thought that is what became compromised during the Binance hack

During a hack of a exchange it is usually the accounts that don't have 2FA enabled that get emptied. Those that do are safe. The only way to bypass 2FA is to replicate the SIM card and get the 2FA codes sent to the duplicated SIM card.

I am not sure how someone would hack your F2A, somehow reroute the code to the hacker somehow? I think F2A is pretty safe. Ledger is basically an advanced F2A and the new mewconnect also acts as an advanced F2A
I am not sure if anyone has ever been hacked using F2A. It would be interesting to find out. Maybe someone who knows more then us can answer us?

Third party authentication recorded hacked and there are some ways to hack it actually.

4 Methods to Bypass two factor Authentication