Crypto Hackers — How to Protect Your Tokens from Them?

Crypto Hackers — How to Protect Your Tokens from Them?
Crypto Hackers — How to Protect Your Tokens from Them?

Crypto hackers are a new breed of online criminals. Just instead of your traditional assets, be it fiat money or identity details, they steal cryptocurrencies, i.e., digital tokens that exist on the internet without requiring centralized control.

As a result, crypto hacking has emerged as one of the most popular ways for criminals to take your money. It happens when crypto hackers gain access to your digital currency wallet and steals your crypto tokens.

While this type of theft is still relatively new, it is becoming more and more common as the value of digital currencies continues to rise. If you are holding any digital currency, it is important to know how to protect yourself from crypto hackers.

Criminals can hack your digital currency wallet in a few different ways. One popular method is called phishing.

How Crypto Hackers Employ Phishing Attacks?

Art showing phishing email
Art showing phishing email

Phishing is when a hacker sends you an email or message that looks like it is from a legitimate source, such as your digital currency exchange or wallet.

The message usually contains a link that takes you to a fake website that looks identical to the real website. Once you enter your login information on the fake website, the hacker gains access to your account.

How crypto hackers deploy a phishing attack
How crypto hackers deploy a phishing attack

Another common method used by crypto hackers is malware.

Malware is malicious software designed to steal your information or take control of your computer. Hackers can install malware on your computer through email attachments, infected websites, and fake software updates.

How crypto hackers use malware to steal your crypto
How crypto hackers use malware to steal your crypto

Once the malware is installed, it can be used to gain access to your digital currency wallets and steal your coins or tokens.

Below are some  tips to help you protect yourself from becoming a victim of crypto hacking:

Use Two-Factor Authentication for Your Exchange Accounts

Using 2FA to secure your accounts from crypto hackers
Using 2FA to secure your accounts from crypto hackers

The first and most crucial step to protect yourself from crypto hackers is to use two-factor authentication (2FA) for your exchange accounts.

2FA adds an extra layer of security by requiring you to enter a second code in addition to your password when logging into your account. This code is usually sent to your phone via text message or generated by an app like Google Authenticator.

If crypto hackers gain access to your account, they will not be able to log in without access to your phone. This makes it much harder for them to steal your coins or tokens.

To set up 2FA, you’ll need to enable it for each Exchange account. Only the best cryptocurrency exchanges offer this service. They include global trading platforms like Binance, Kraken, and Coinbase.

The process will vary depending on your service, but generally, you’ll go into the account’s security settings and look for an option to enable 2FA. Once it’s turned on, you’ll need to enter a code whenever you log in or perform certain sensitive actions like changing your password.

While 2FA adds an extra step to the login process, it’s worth the hassle if it means keeping your accounts safe from crypto hackers. So make sure to enable this security measure for all your Exchange accounts today.

Google Authenticator is Middle Finger to Crypto Hackers

Image showing Google Authenticator app on Apple Store
Image showing Google Authenticator app on Apple Store

In addition to 2FA, you can use an authenticator app to secure your Exchange accounts further from crypto hackers. These apps generate codes you can use instead of a physical 2FA device. Many exchanges now support this feature, so it’s worth considering if you don’t have a phone or other device handy when logging in.

To set up an authenticator app, you’ll need to download one from the App Store or Google Play Store.

Once it’s installed, open the app and follow the instructions to add your Exchange account. You’ll usually need to scan a QR code or enter a secret key to link the two. Once that’s done, the app will generate a code you can use instead of a physical 2FA device.

With an authenticator app, you’ll never have to worry about losing your phone or 2FA device when logging into your Exchange account. So if you don’t have a physical 2FA device, be sure to download an authenticator app today and show those middle fingers to crypto hackers.

Use a Secure Password Manager

Another way to protect your Exchange account from crypto hackers is to use a secure password manager. This piece of software stores your passwords in an encrypted database, so even if crypto hackers manage to get their hands on your computer, they won’t be able to read your passwords.

Many different password managers are available, so spend time researching the best option for you.

Once you’ve chosen one, go ahead and install it. Then, when prompted, create a strong master password that will be used to encrypt the database. After that, you can add your Exchange account passwords to the manager.

With a secure password manager, you’ll never worry about forgetting or losing your passwords to crypto hackers. So be sure to start using a password manager today.

Use a VPN

Another way to protect your Exchange account from crypto hackers is to use a VPN. This software encrypts your internet traffic, making it much harder for crypto hackers to snoop on your activity. Additionally, it can also help you bypass restrictions and access blocked content.

Many VPNs are available, so take some time to research the best option. Once you’ve chosen one, go ahead and install it. Then, create an account and log in. After that, you can use the VPN to encrypt your internet traffic.

Artwork showing how to protect your account from crypto hackers using VPN
Artwork showing how to protect your account from crypto hackers using VPN

With a VPN in place, you’ll be able to browse the web more securely and access content that might otherwise be blocked. So if you’re not already using a VPN, start today.

If you are using a public Wi-Fi network, be especially careful, as this is one of the easiest ways for criminals to access your account.

When you connect to a public Wi-Fi network, all your traffic is unencrypted and can easily be intercepted by crypto hackers on the network. In other words, crypto hackers can easily steal your login information and gain access to your account if they are on the same public Wi-Fi network as you.

If you must use a public Wi-Fi network, be sure only to visit websites that are HTTPS secured. You can also use a VPN to encrypt your traffic and protect yourself from hackers.

Use a Hardware Wallet to Ward Off Crypto Hackers

Image showing a crypto hardware wallet
Image showing a crypto hardware wallet

Another good way to protect yourself from crypto hackers is to use a hardware wallet.

A hardware wallet is a physical device that stores your private keys and allows you to sign transactions. Hardware wallets are considered much more secure than software wallets because they are not connected to the internet and are, therefore, not susceptible to hacking.

The most popular hardware wallets on the market today are the Ledger Nano S and the Trezor.

Keep Your Software Up to Date

One of the easiest ways for crypto hackers to gain access to your digital currency is through vulnerabilities in your software.

That is why it is important to keep your software up to date. Whenever there is a new update for your wallet or exchange platform, install it immediately. These updates often contain security patches that can help protect you from the latest threats.

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