When any crypto is on an exchange wallet, the exchange holds the private keys to that wallet yes? So I guess my question is how common is an attack at a level where 2fa for withdrawing/transferring coins is rendered useless?
dont trust any exchange with your coins.. this year only more then 50% not payed out the members
Topic: Does 2fa for withdrawing/transferring make an exchange safer? (Read 90 times)
When any crypto is on an exchange wallet, the exchange holds the private keys to that wallet yes? So I guess my question is how common is an attack at a level where 2fa for withdrawing/transferring coins is rendered useless?
dont trust any exchange with your coins.. this year only more then 50% not payed out the members
When any crypto is on an exchange wallet, the exchange holds the private keys to that wallet yes? So I guess my question is how common is an attack at a level where 2fa for withdrawing/transferring coins is rendered useless?
I am asking because I noticed this is not something all exchanges do. Also super paranoid question, if an exchange prevents you from withdrawing for 24h after disabling 2fa, would I be safe from a hack on an exchange if my account fell under this category? Like if I were paranoid enough, to make sure my funds stay locked on the exchange, I would disable/re-enable 2fa every day to ensure that the exchange does not allow a withdrawal if say there were a hack.
Two factor authentication typically means that to get access to your account, you will need to enter a one time code sent to your phone, so yes, your funds will typically be safer since merely obtaining or guessing your password won't be enough to provide an attacker access to your funds.
I am asking because I noticed this is not something all exchanges do. Also super paranoid question, if an exchange prevents you from withdrawing for 24h after disabling 2fa, would I be safe from a hack on an exchange if my account fell under this category? Like if I were paranoid enough, to make sure my funds stay locked on the exchange, I would disable/re-enable 2fa every day to ensure that the exchange does not allow a withdrawal if say there were a hack.
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