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Protecting your Crypto against Hacks

July 31, 2018

 

Hacks of large numbers of Crypto wallets are almost common place today.

 

When you know any of the most common exploits that hackers use to access your Crypto, then you can do better in your efforts to up your security and stop them in their tracks.

 

Different leading industry news outlets have different opinions on what these exploits or tools are, and yet the similarities amongst them are enough to provide a roadmap for better protecting yourself in the face of such dangers.

 

The fact that so many different kinds of hacks that can and do occur, this can be assumed to be the initial cause of confusion for Blockchain insiders and investors.

 

In an attempt to remedy this, Coindesk reported that one of the most common hacks was due to malware called “clipboard hijackers,” in that it targeted around 2.3 million individual Bitcoin wallets.

 

This particular malware is defined in this way because it hijacks your computer’s clipboard, so that when you copy something to paste it later, like a wallet address, it can be changed to another wallet address by the malware.

 

According to the same article by Coindesk that made the initial claim which was mentioned above, clipboard hijackers actually account for around 20% of all malware attacks related to Cryptocurrencies.

 

Other than this type of malware, another of the other most common hacks in the space is cracking the accounts of those who are not already using 2FA, or Two Factor Authentication. In addition to this, there has been an accumulation of customer service team members who are really bots that have the sole purpose of getting you to hand over the private logins to your Crypto wallet.

 

So how does the average user mitigate against such attacks? It all boils down to a few simple points related to properly securing your accounts, and using the free Crypto security tools that are already out there.

 

One of the free Crypto security tools which is arguably among the best around is Metacert. Using it is as simple as downloading a free browser extension that looks like a small shield, but if you want to drive its improvement, you can always submit URLs to the development team for verification, which is also done for free.

 

Metacert’s utility can be boiled down to the fact that it turns green if a website is secure as well as a true version of itself.

 

If the protocol that runs the extension is not sure about a site, then it stays black. If, the site is a known scam, a colorful warning message appears, which attempts to bar you from compromising your computer by going to the site.

 

Again, as mentioned above, the only downside with Metacert is really that for it to one day include all of the needed websites, users need to continuously submit URLs to the development team.

 

If not, it will continue be a very useful tool for a relatively small corner of the internet.

 

As far as the other point goes related to properly securing your accounts, doing so is probably simpler than you might imagine.

 

If you enable 2FA on every account that you have, such as requiring a unique code to be sent to your cell phone every time you login, then you’re off to an excellent start.

 

When you also begin doing your due diligence like always verifying that the app you want is the official version from its true creator, then your Crypto is probably more secure than that of a large part of the industry.

 

All it takes to prevent most hacks is being careful enough to take the time to be secure in these specific ways. Furthermore, if you can master the basics like these points, then you can move on to more advanced security measures.

 

 

By: BGN Editorial Staff

 

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