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How to protect your wallet from Hackers

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Story Highlights

  • Thousands of people fall victim of hackers

  • Safety of your assets depends on you

Human inattention and arrogance are the main weapon of hackers

The crypto industry is constantly faced with trials – and hackers are perhaps one of the most unpleasant. Every year, thousands of people fall victim to clone sites and the usual phishing. And this means that fraudsters rely on the main vulnerability in the system – human inattention and arrogance. But there is good news: you can still protect your money.

How to protect yourself against hackers?

Google Play Store and App Store apps

Do not install mobile applications that are not specifically needed. And if you still download them – do not forget about two-factor authentication. Finally, do not be lazy to check the links to the applications on the official website of the platform to make sure they are authentic. Most often, the victims of hackers are owners of smartphones on Android. The weak point of this operating system lies in the absence of the possibility of two-factor authentication. This type of authorization requires the introduction of a password, login and some information known only to the user. In addition, the operating system Google is known for its vulnerability to viruses – its security level is lower than on the iPhone.

But back to Android: hackers add applications to the Google Play Store on behalf of cryptocurrency resources, and when such an application is launched, users enter personal data and thereby open access to hackers. One of the high-profile stories related to Poloniex: traders downloaded applications for mobile devices that were posted by hackers on Google Play on behalf of the site and were in fact in no way connected with it. The Poloniex team did not develop Android applications, and there are no links to mobile apps on its website. More than 5.5 thousand traders were victims of this software until it was removed from Google Play. Apple has taken tough measures to protect iOS users by introducing strict rules for placing content in their store, which prevent the spread of malware.

Slack Bots

If you use this messenger, report Slack bots (to block them), ignore bots activity and set protection on the Slack channel. Most often, bots steal cryptocurrency by scanning popular instant messengers. Hackers create a bot that generates notifications for cryptocurrency owners about certain problems. The user follows the link suggested by the bot and enters the private key. The most large-scale and successful hacker operation that involved the bots, was the case with Enigma. The hackers used the name Enigma, while the project was leading the pre-sale of tokens, launched a Slack bot and stole $ 500,000 from the gullible users.

Plug-ins and add-ons for cryptocurrency trading

There are several ways to deal with this threat: install a separate browser for trading, use incognito mode, start a separate computer or smartphone for trading, install an antivirus and do not download any add-ons. These add-ons can “read” everything you type. Such extensions are developed in JavaScript, which makes users particularly vulnerable to hacker attacks. You must adhere to the above rules to protect yourself from attacks.

SMS authentication

If you use SMS authorization, be sure to disable call forwarding to prevent access to your data. And do not pass two-factor authentication via SMS, when the password comes to the phone – for this it is better to use a special program. Experts on cybersecurity company Positive Technologies claim that intercepting SMS with a password sent via the SS7 protocol is a simple matter. Text messages can be cracked using tools that exploit weak spots on the cellular network.

Public Wi-Fi

Never use public Wi-Fi for cryptocurrency transactions.

It is also important to regularly update the firmware of the router; for this, hardware manufacturers constantly release updates. The elementary attack occurs when the user’s device reconnects to the hacker Wi-Fi network. Then hackers simply download the information or send it over the network – information about the keys to the cryptocurrency wallets is no exception. This problem is particularly relevant for public Wi-Fi networks.

Clone sites and phishing

If you visit cryptocurrency sites, HTPPS is a prerequisite. Using Chrome, install the extension and, after receiving a message from any cryptocurrency resources, copy the link into the browser. There are many different ways to protect against hackers. And although the threat does not diminish, users become more literate and learn to better hide their confidential

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Mur Kvantaliani

MUR KVANTALIANI Mur Kvantaliani is an International researcher, scholar and journalist. His interests focus on geopolitics, economics, renewable energy and new technologies. Mur holds Masters degrees in English and German literature. He has lived and worked in the United States and Germany where he developed his career as a journalist and creative writer.

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