If you are wondering how to protect your crypto in these unprecedented times, you are not the only one. The COVID-19 pandemic has positioned a lot of threats on crypto holders and created an environment for a similar virtualized dismemberment of our digital assets as well as our data security.
In the cryptonews now, it seems like unscrupulous hackers are doing everything to breach into users’ crypto wallets – they are hacking their way into financial systems and financial accounts. Well intentioned efforts to promote public safety are fostering prospective abrogation of personal data privacy nowadays.
At the same time, there are new areas of business opportunity for distributed ledger companies emerging from the crisis. As you may know if you read our Bitcoin scams news, the EventBot trojan is the latest malware to target financial accounts and wallets. This one poses as an innocent-seeming app download, such as Microsoft Word, and takes over your phone’s data streams, keylogging passwords and grabbing SMS messages used in two-factor authentication.
On a wider scale, malware and phishing are on the rise in the pandemic as more hackers take advantage of the heightened anxiety and the unprecedented numbers of people working from home outside the normal corporate security protocols.
There is also a next-level LinkedIn hack which makes you wonder how to protect your crypto assets during the COVID-19. This hack is an account takeover of a legitimate profile, and needs to be taken care of in the most professional and secure way.
As new data security risks emerge, there are many ways to track, trace and remediate the virus. Large-scale health data pools are being assembled now with multiple copies of sensitive health, financial and telecom data being created at disparate locations. The experts even hint at the creation of “cyber unicorns as a way to tackle the ever-increasing demand for better security solutions.”
But how to protect your crypto from cyber criminals?
- Enable multi-factor authentication. According to Microsoft, 99.9% of compromised accounts did not have multi-factor authentication activated.
- Use a different password for every single account you have. Many people re-use the same five passwords (notwithstanding the fact that the average business user has over 190 logins to track).
- Use good password hygiene: the world’s most common passwords last year included “12345” and “password,” with 83% of Americans using weak passwords.
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