What should we pay attention to besides eating melons, the first hacking incident in DeFi history?

According to statistics from Coin98 , there were 11 major DeFi thefts in the third quarter of 2021 , of which 5 were cross-chain bridge asset thefts, namely: AnySwap (July 10, $7.9 million), ChainSwap (July) On the 11th, $4.4 million), THORChain (July 15, $5 million) & (July 23, $8 million), and Poly Network (August 10, $611 million).

The Poly Network attack that occurred last night was the largest hacking incident involving the largest amount of money in history, and it was also the largest hacking incident involving the largest amount of money in the entire encryption history Not only is the project team helpless in front of hackers, it is very important for ordinary people to do a good job in the security of their own digital assets.

What should we pay attention to besides eating melons, the first hacking incident in DeFi history?

The discussion about the security of virtual currency has never stopped since its birth. Based on the current common virtual currency theft cases, the editor summarizes the following tips to prevent theft, hoping to arouse everyone’s alert.

1 Choose a strong password

Whether you store your cryptocurrency in an exchange or a wallet, your first line of defense is a strong password.

It should be noted that do not use the same password in multiple accounts . If your email and other shopping platforms use the same password, then the hackers only need to retrieve the password of the other platform, and they can immediately access your email account , So you can access all of your content.

To improve security, please enable two-factor or multi-factor authentication. Of course, it is also a good practice to change your wallet password (and the passwords of all online accounts) regularly every few months.

2 Choose the right wallet

It is important to choose the type of wallet to store virtual assets.

The first type is a typical cloud wallet (accessible from mobile devices and desktops). The cloud wallet allows you to store and access your virtual currency from anywhere. If you are a novice, cloud wallet is a good choice because it is easy to set up and use.

In addition, you can also consider a hardware wallet , which is a device similar to a USB flash drive, in which you can easily store all your private keys. Since these wallets can be disconnected from the Internet immediately after your work is completed, the chances of hackers accessing wallet information will be greatly reduced.

In addition, in order to increase security, please put your hardware wallet and its backup key in different places. If you often have large transactions, it is best to add another layer of security to your wallet .

3Don’t access the wallet from a public computer

No matter how urgent you need to access your own account, never try to use a public computer to access your virtual asset information.

You’d better use a personal computer or laptop, make sure its password is safe, and be equipped with a protection system against malicious software.

4 Enable multi-signature

With multi-signature enabled , users must access two or more wallet keys to process any transaction, similar to two-factor authentication on some websites. Multi-signature means that even if hackers have private keys, they also need to have additional keys to execute transactions.

If you follow these steps, you will minimize the risk of hackers accessing your wallet and ensure the security of your cryptocurrency.

5 Do not connect to public Wi-Fi when trading

In recent years, some hacker thefts have occurred in the Wi-Fi Protected Access (WPA) protocol using routers. If the user’s device is connected to the hacker’s Wi-Fi network, all information downloaded or sent by the user through this network is available to the attacker, including the private key of the encrypted wallet. Everyone must pay attention to public Wi-Fi in airports and hotels.

6 Avoid cloning and phishing URLs

For cloning websites, all we need to do is to keep our eyes open. Often, the difference in capitalization of a letter will lead us into a trap.

Attackers generally copy the content of the original website to induce users to visit the cloned website. When the user enters the account password or key, all the user’s information is stolen.

Although the cryptocurrency space has grown and changed at an alarming rate, there are so many routines used by hackers and scammers to steal virtual currency. This editor reminds everyone to be vigilant. Sometimes malicious links, malicious software, malicious emails, and malicious websites are very dangerous. Keep your eyes open and don’t “catch up”.


Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-should-we-pay-attention-to-besides-eating-melons-the-first-hacking-incident-in-defi-history/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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