The thought of losing anything grips the soul and uneases the mind. Sadly, within cryptospace, tenacious efforts to hamper the livelihood of community members are particularly common. Hackers tirelessly scour the space to find any vulnerabilities within security features to ruin the lives of millions.
Yesterday, as we reported, the community was hit by a curveball of great proportions: Amazon’s DNS servers were hijacked and users were unknowingly redirected to a phishing site, resulting in funds being stolen, leaving the space at a standstill, paranoid, and subsequently questioning the security features available across the community.
Allow this to stand as an educational reminder for why you must take a multifaceted approach to securing your fortune.
But what should you do?
The answer is simple: traders and investors often understand the importance of not keeping their eggs (money) in one basket. This scheme should be implemented in security.
❗️You should not keep your crypto on one exchange nor in one wallet. Spread everything out. Have multiple wallets, ledgers, email address, passwords, etc. Assume your phone number is already hacked, don’t use SMS (text) authentication. Instead, always use 2-factor. Google Authenticator is the app of choice for most.
✏️WRITE DOWN private keys and passphrases. DO NOT store in your photo album, notes, or anywhere online.
Of course, some may complain of the expenses and time involved with such an approach, but why mind nominal expenses and a few extra minutes of time when each measure intends to protect the portfolio you have tirelessly built?
Additionally, avoid trading from multiple devices. Trading on your phone, multiple computers, what have you, creates tremendous risk, in that you are more likely to be compromised. You should avoid using your phone to access exchages at all cost.