Simple Steps to Keep Your Crypto Safe from Hackers

Cryptocurrency trading is becoming more widespread, and with that growth, cybercriminals are becoming more advanced in their tactics. While this may seem alarming, improving digital security is simple with a few key steps. By following basic precautions, users can protect their funds not only on exchanges like Coinbase but across their entire digital presence.

One of the most common threats is an account takeover (ATO), where hackers gain access to a user’s account to carry out fraudulent activities. One method they use is a SIM-swap attack, where fraudsters trick a mobile carrier into transferring a user’s phone number to a new device. This allows them to intercept calls and text messages, including two-factor authentication (2FA) codes, which they use to gain access to financial accounts.

To reduce the risk of such attacks, experts recommend using strong passwords and the highest level of 2FA available. A password manager can help create and store complex passwords securely. Users can also check if their passwords have been exposed in past data breaches by using online tools.

For added security, 2FA should be enabled whenever possible. The most secure method is a hardware security key, such as a Yubikey. If that isn’t an option, authentication apps like Google Authenticator or Duo Security offer better protection than SMS-based 2FA. If SMS is the only option, ensuring that a code is required for every login adds an extra layer of defense.

Beyond these technical measures, staying cautious online is essential. Avoid publicly discussing cryptocurrency holdings to prevent becoming a target for scams.Hackers often pose as tech support agents or customer service representatives from exchanges like Coinbase, attempting to trick users into revealing sensitive information. Official platforms will never ask for passwords, 2FA codes, or remote access to a computer.

Scammers also create fake websites that look identical to legitimate exchanges to steal login details. To prevent falling victim, users should always verify website URLs before entering credentials. If an email contains a link, copying and pasting it into a text editor before clicking can help confirm its legitimacy.

By following these security best practices, crypto holders can significantly reduce their risk of falling victim to cyber threats. A proactive approach to online security is essential in protecting digital assets from fraud and hacking attempts.