These days a news is very common “A hacker stole $X from a broker wallet or someone’s individual broker account.” Today we will learn how we can make our assets more safer to avoid loss in any attack. Most of the times reported cases are that someone loses X number of $ on binance in a cyber/phishing attack. If you follow these 5 steps most likely you will never lose an asset in a cyber attack on Binance exchange. Now let’s discuss one by one:-
1. Enable Two-Factor Authentication (2FA)
Two-Factor Authentication adds an extra layer of security beyond your password, requiring a second verification method. Binance offers multiple 2FA options:
- Authentication Apps like Google Authenticator or Binance Authenticator provide secure one-time codes.
- Security Keys (e.g., YubiKey) ensure physical authentication.
- Email or SMS 2FA, convenient to an extent, but also convenient to attack by sim swapping.
Pro Tip: Avoid depending only on SMS-based 2FA; give priority to app-based or hardware-based 2FA for extra security.
2. Use Strong, Unique Passwords
A strong password is your first defense against unauthorized access. Here’s how to create one:
- Use a combination of uppercase letters, lowercase letters, numbers, and symbols.
- Avoid reusing passwords across different platforms.
- Change your password periodically for extra security.
Pro Tip: Consider using a password manager to store and manage unique passwords safely.
3. Whitelist Trusted Withdrawal Addresses
Binance’s Withdrawal Address Whitelist feature ensures that your funds can only be withdrawn to specific pre-approved addresses. Any addition to this list requires email verification, providing an extra layer of protection against unauthorized withdrawals.
Steps to Enable:
- Go to your Binance account settings.
- Look for the “Withdrawal Address Management” section.
- Enable the whitelist option and add trusted wallet addresses.
4. Stay Active Against Phishing Attempts
Phishing is a common way used by hackers to steal sensitive information. Here’s how to protect yourself:
- Always verify the URL before logging into Binance.
- Avoid clicking on links in unsolicited emails or messages claiming to be from Binance.
- Use Binance’s Anti-Phishing Code to ensure emails you receive are authentic and orignal.
Pro Tip: Bookmark Binance’s official website to avoid accidentally visiting phishing sites.
5. Secure Your Internet Connection and Devices
A secure internet connection is important for safeguarding your online activities. Follow these best practices:
- Avoid using public Wi-Fi for accessing your Binance account.
- Install reliable antivirus software and update it regularly to protect against malware.
- Keep your device’s operating system and browser up-to-date.
Pro Tip: If possible, use a separate device for accessing your Binance account and cryptocurrency-related activities.
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