Topic: HOW TO STOP HACKERS TO HACK YOUR CRYPTO WALLET - page 26. (Read 5341 times)

Now a days hackers has that type of technology which can hacks anything. So what's the best way to protect your cryptocurrency investments from hacks?

To find out, we reached out to three cryptocurrency investors and three cybersecurity experts. All three investors have lost some cryptocurrencies due to different hacks. One of the experts, Amir Bandeali, also is an investor, lost about 18 percent of his investments because the exchange (Bitfinex) he was trading with was hacked. That incident inspired him to build decentralized exchanges, which he believes will be the future for trading cryptocurrencies.

All of them admitted there's no perfect solution to the problem. In the age of cryptocurrency, hard drives and personal computers have become the new bank vaults. And our real-world knowledge of protecting money from theft is not enough in the virtual world. The following suggestions can serve as a safety pamphlet for new cryptocurrency investors.

Six ways to protect your bitcoin and ethereum investments from hackers   Six ways to protect your bitcoin and ethereum investments from hackers 
9:04 AM ET Fri, 3 Nov 2017 | 03:40
Coinbase, one of the largest cryptocurrency exchanges, added about 1.9 million new users in the last two months. In the same period, [Suspicious link removed], the leading digital wallet to store cryptocurrencies, saw its users grow just slightly less than that.

Many are newcomers, unaware of the risks and security holes in the complicated yet lucrative world of cryptocurrency, making them easy prey for hackers and cyberthiefs.

One common crime that's carried out on cryptocurrency investors is the phone-porting attack. Hackers snoop around social media, looking for cryptocurrency conversations in which investors post their phone and email for easy contact. Then, posing as the victim, they call up the phone provider in an attempt to fool the customer service representative into transferring the phone number to a device they control.

Once the hackers take over the phone number, they can go into the victim's cryptocurrency exchange account by resetting the password, ultimately stealing cryptocurrencies from the account. Cody Brown, a virtual reality developer, blogged about how he lost around $8,000 worth of cryptocurrencies on Coinbase in 15 minutes, triggered by a phone porting attack on his phone account.

A cellphone number is not the only point of weakness. Adam Dachis, a former writer for Lifehacker, says his Coinbase account was ransacked in May by hackers who took control of his home computer, costing him $10,000 worth of cryptocurrencies.

"Computer hacks, phishing attacks and cryptocurrency Ponzi schemes are all common types of cryptocurrency theft," said Jonathan Levin, co-founder of Chainalysis, an intelligence software firm that specializes in tracking and solving cryptocurrency crimes.


So what's the best way to protect your cryptocurrency investments from hacks?

To find out, we reached out to three cryptocurrency investors and three cybersecurity experts. All three investors have lost some cryptocurrencies due to different hacks. One of the experts, Amir Bandeali, also is an investor, lost about 18 percent of his investments because the exchange (Bitfinex) he was trading with was hacked. That incident inspired him to build decentralized exchanges, which he believes will be the future for trading cryptocurrencies.

All of them admitted there's no perfect solution to the problem. In the age of cryptocurrency, hard drives and personal computers have become the new bank vaults. And our real-world knowledge of protecting money from theft is not enough in the virtual world. The following suggestions can serve as a safety pamphlet for new cryptocurrency investors.

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Here's the advice of investors and experts, edited for clarity and style:

Jonathan Levin, co-founder of Chainalysis

1. Before you open up an account on Coinbase [or other exchanges], set up an unique email that you are going to use for that account.

2. Make sure to set a really hard and long password, and you are the only one to access it from a piece of paper that you control.

Dan Romero, VP of operation at Coinbase

1. On Coinbase, turn off SMS-based two-factor authentication and account recovery for your email account. If you move to Google Authenticator but don't turn off SMS account recovery, a phone port attack can still lead to an email compromise.

2. On Coinbase, setup the Coinbase Vault and two-factor authentication for any sends off-site.

Sean Everett, VP of product management, Coinbase account was hacked by phone porting attack

1. Don't talk about cryptocurrency publicly, especially on social media.

2. Call your cellphone provider, put every level of security you possibly can, and add a passcode to it. The next level protection is to add a "do not port" SIM card to your account. That can last for a year.

3. Even though Coinbase says it takes security seriously and has system designs to protect customers, it's not a bank. Don't trust it as such.

Firstly, thank you for your advice about how to protect my wallet.
It is very useful tips for considering personal wallet.

I’m also use personal wallet but I’m afraid my wallet might be stolen.
As you might know, there was the attacter with hacking coin market in Korean.
All coins’ price with bitcoin was deducted and many people withdraw their asset.

So, I’m using my mail address seperately for their purpose.
If possible, please do not use your wallet ID for airdrop or etc promotion participation.
As his recommendation, I backup my private key but don’t upload it on clouds.

I hope I protect my asset from their attacter or hacker.

wow, this is a very interesting question... well, you just do not use crypto wallet so hackers can not hack =))) you can concern to protect your money =))) so ez, lol~

for me, the first thing you need to stop doing is entering a porn site or some unknown website. Bookmark sites that are original so you are not fooled into using your wallet. If you get hacked, you should immediately change your wallet.

Very informative post.
Every must always remember that there is no one to be blame if he/she loses cryptocurrency assets.
We are the ones incharge and responsible for safekeeping it therefore we must do anything neccessary in order to prevent our assets from being hacked

Most of the hackers need for the information. So information is important of hackers. So don't share your any wall information and use the trusted wallet. Hackers wait for the chance for hack your account. If share your any wallet information. It easy to hack your wallet. Then loss your saving. So use the trusted wall and safe mail ID.
If you get the more information then easy to avoid the hacking. Most of the people fear for hackers. So don't thing hack. So don't share the wallet information any one.

I guess whatever we do we can’t stop hackers to hack our accounts. What we can do is to prevent them on hacking us. I can say this because we should admit that hackers will do everything do hack our crypto wallets. So what we need to do is to make sure that they will not be successful on their evil intention. So to prevent this we need is to make sure that we don’t trust anyone in our accounts so that they will not get any idea on our crypto wallets. Always remember that we must only be the one who has access to our account for our protection.

Ohh! Thank you soo much for sharing this information. It's really useful to us. I know many things about wallet safty from this post.

All we just need to do is just be cautious and dont give them a benefit of a doubt to hack your wallet.  Hackers only hack those account if they know that it has a lot of money. So we must be humble all the time so that we can avoid scammer.

yes studying cyber security is the best way but most of the people can't understand it because when we deal with cyber security there are lot of works to do so most of the people don't focus this is one way to educate them in simplified way only

yes that's the reason why I spread this topics and other topics about cyber security many of us can't understand what is the importance of cyber security is but to explain it in easiest way is the best for all people

"Cyber security". Study about it and rest assured that your worries about hacking issues or other cyber crimes may be lessen for greater good. Having knowledge about cyber security is a very major advantage compare to other people because almost everything in this world as of now is purely made and operated with the use of computers and internet. Therefore, the chance of you being "hacked" is almost less than a half percent of yours before.

I did all of this. I am using mg own laptop, secured all my private keys, all access need 2FA Authentication, avoided some phising site and created a back up. It is best to be sure. I got hacked once and I don't want it to happen again. I lost around $ 300 that time.

We cannot stop hackers to hack our wallets but we can do something to prevent it. You should keep your password and private key safe place on ofline.

Hardware wallets aren't any more secure than a securely generated Desktop/offline wallet. The only difference with hardware wallets is that they take precautions that users might not when they are accessing their funds regularly. This would be the only time I would recommend using a hardware wallet, however hardware wallets; both the Trezor, and Ledger have had security issues in the past which have since been patched.

It's a good thread. I have read it and I think it's great for people who want to protect themselves from hacker attacks. Because we know that hackers will always do various ways in order to steal. Maybe I add a bit to using a safe wallet. There are many wallet options there.

Correct. These steps are key to further prevent the stealing of your hard-earned Bitcoin. It is always best to wear an anonymous nickname rather than you're real name across the web, to make it harder for hackers to identify you and gain access to your Bitcoin. Also, complete secrecy about the total amount of funds you have is required to prevent any undesired situations in the future.

If you would like to add additional privacy, it's best to never disclose your public key too since anyone can place that key on a block explorer and see how much Bitcoin you have. You can always try switching to new addresses with receiving payments, but sometimes that's not enough. If you manage to follow the steps stated earlier on this thread, and use your wallet in an offline fashion (like a paper wallet generated offline) you'll be safe from hacks and theft.

I always store most of my Bitcoin in a paper wallet that has been generated offline. This way, no one knows the private key except for myself since keys were generated away from the prying eyes of hackers. Disconnecting yourself from any connections (WI-FI, Bluetooth, etc) would be a huge plus towards protecting your funds in the future

thanks for this notice, i am a beginner without knowledge, i feel get help once with this. maybe if none of these notifications, my wallet will be hacked easily by hackers in some way fraud. and with this I will be more careful again.

The information you have provided is really good and people who don't know how to store their wallets or crypto safely will really get knowledge from your post. Thanks for sharing the information to everyone on this forum and as per my knowledge there is no extra inputs I can share since you have provided all the relevant information required for using the wallet or PK's securely.

There are following ways to stop hackers to hack your crypto wallet.

1. Use Two Factor Authentication
2. Don’t Use Public Wi-Fi
3. Beware When You Download (Even On Your Phone!)
4. Use ProtonMail
5. Keep Private Keys Offline