Understanding the Importance of Cryptocurrency Security
Cryptocurrency is a brand-new asset investment market. It has enormous market potential, but it is a volatile investment field, much like stocks. As a result, before investing in cryptocurrency, you should be aware that it is risky and requires careful attention. To reduce the risk of loss, you should conduct thorough research and study, as well as make long-term investments. There are currently many cryptocurrencies in the market for investors to choose from with the potential to generate massive returns.
However, if you want to become a cryptocurrency investor or if you are a new investor, it is unrealistic to believe that your enthusiasm for cryptocurrency will increase your chances of making money. Before you become a crypto investor, you must have a positive attitude and effective means for managing risks, such as how to deal with the decline in currency prices caused by market fluctuations and how to improve your investment performance. Every cryptocurrency investor should know how to handle the cryptocurrency price drop caused by market fluctuations. As BigONE has provided a detailed explanation in previous articles, the focus of this article will be on how investors can improve their network security awareness.
The recent news that well-known cryptocurrency exchange BitMart had been hacked brought the network to a halt. According to sources, the platform was hacked on December 4, resulting in the loss of user assets. According to a series of updates posted on its website, the attack is expected to cost users approximately $150 million, though the first security company to notice the hack estimated the stolen tokens were worth closer to $200m. BitMart itself issued a statement stating that it will use its own funds to compensate users who have suffered losses because of the hack.
That investors chose a reputable cryptocurrency exchange can be considered a blessing in disguise for the users affected by this incident. However, how to raise network security awareness will be a question that investors in the entire crypto investment field will need to consider for a long time in the future, because no matter what type of investment you make, asset security is always important. “There are many anti-crypto proponents who continue to harp on the fact that the industry as a whole has a long way to go when it comes to securing itself. Now, with the recent Bitmart hack coming to light, these individuals have been given even more firepower,” observed a recent report in Cointelegraph.
Attacks typically occur when hackers obtain user information or access illegally, such as the user’s username, password, email address, and encrypted wallet private key. According to official data, more than 20,000 crypto investor accounts worldwide suffered losses because of hacker attacks in 2020. With the growing number of hacker attacks on the crypto investment field, the entire industry has received a great deal of criticism from the wider world. This has also prompted increasing network security awareness in the global crypto investment field going forward.
How to protect yourself from cybercriminals
When BigONE users log in to the website, they’ll find customer service staff in the help center to ask about how to protect their assets, and how to verify that the information and emails they receive are sent by BigONE. If an investor’s email address or name is stolen from BigONE’s system, it is critical to be wary of phishing attacks and fake emails. Even if you are not a BigONE user, we believe you should carefully read the following and learn how to protect your assets:
⦁ Do not click on the email’s link. If you receive a message or email from BigONE, please make it a habit not to click on any message or email link. Instead sign in to your BigONE account directly from the web browser’s favorites. This operation ensures that you will not be directed to a phishing site by clicking on a bogus link. For the same reason, do not open any attachments in the email, as they may contain viruses.
⦁ Be wary of any operation that reveals your personal information. If you notice any pictures, fonts, colors, or spelling mistakes in a message or email, you can be certain that it is not from an official source. Please be especially cautious if the email asks you to share your login or payment information.
⦁ Use passwords that are both unique and complex. It is extremely foolish to use the same password for multiple sites, as this puts your account at much greater risk. When criminals obtain your personal information and password through illegal means, they can access all your accounts if you use the same password in financial investment or any other account. If you are concerned that different accounts have different passwords that are easy to forget, you can store your passwords using a password manager.
⦁ Use two-factor authentication (2FA). Most reputable cryptocurrency exchanges, such as BigONE, now provide some form of 2FA. You have the option of receiving the code via email or text message, or you can use the authenticator app to generate additional login verification codes. This extra layer of active security protection may make it more difficult for hackers to break into your account system.
⦁ Update anti-virus software and plug-ins on a regular basis. The simplest method is to configure your anti-virus software and plug-ins to automatically update and scan your devices on a regular basis.
⦁ Consider storing your crypto assets offline in a ‘cold wallet’ that’s not connected to the internet. That’s especially useful if you plan to invest in cryptocurrencies in the long term.
It is impossible to completely prevent viruses and hackers from attacking the computer system in today’s advanced network technology unless your computer is turned off. But one thing BigONE wants you to remember is that viruses and hackers frequently look for simple vulnerabilities in computers on the network, so you should not let your guard down when it comes to network security. The more you know and the more precautions you take, the more difficult it will be for viruses and hackers to crack the system, and the less likely you will be a victim of a cyber-attack.
