Safer Internet Day is marked annually to raise public awareness of new and emerging Internet issues. A safer online environment benefits everyone, and education on the responsible use of the internet is critical for driving Bitcoin adoption and improving security. Binance is pleased to provide comprehensive instructional tools and guidance to its users on Safer Internet Day. The Q&A below unpacks essential information, stressing best practices for securing accounts, identifying phishing efforts, and protecting personal information.
How can one identify if their online accounts might be under attack by cybercriminals?
Detecting a potential Account Takeover (ATO) attack can be challenging; however, being aware of common signs can help you avoid falling victim to such incidents.
- Unusual Activity: Be vigilant for unauthorised purchases, changes to account settings, or unexpected logins from unknown devices. Unusual login attempts or IP addresses may signal an imminent ATO attack.
- Changes in Account Credentials: Attackers often alter login credentials when gaining control of an account. Simultaneous changes across multiple accounts indicate potential hacking.
- Unknown Devices: Cybercriminals use device spoofing to disguise equipment. A surge in unknown devices linked to your account may indicate an impending ATO attack.
- Multiple Accounts from the Same Device: Attackers occasionally don’t hide devices when accessing various accounts, connecting them all to a single device.
How can users prevent Account Takeover Attacks?
ATO attacks pose a growing concern for individuals and businesses. Users can take proactive measures to secure their accounts:
- Strong Passwords: Use strong, unique passwords, avoiding repetition across platforms accounts. Avoid using the same password across multiple platforms.
- Two-Factor Authentication (2FA): Enable 2FA with dynamic requirements for enhanced security.
- Caution with Emails: Be wary of suspicious emails or messages.
- Research: Thoroughly research cryptocurrency investments and platforms, focusing on well-known and reputable exchanges.
- Identity Verification: Double-check the identity of contacts claiming affiliation with cryptocurrency projects or platforms through official channels.
- Avoiding Unrealistic Returns: Exercise caution with investment opportunities promising unrealistically high returns.
- Reporting Suspicious Activity: Report potential scams to relevant authorities and platforms to contribute to community protection.
- Binance Portal: Access Binance’s privacy principles through their portal for a deeper understanding of data usage, privacy rights exercise, and contact with the Data Protection team. This approach transcends compliance, empowering users to take control of their shared personal data.
Binance’s security teams actively monitor and optimise security measures. Upon receiving ATO reports, thorough investigations are conducted to assist victims. While Binance works diligently to safeguard accounts, users play a crucial role in their security. By adhering to recommended precautions, users can reduce the risk of falling victim to an ATO attack. If a Binance account is suspected of compromise, prompt contact with customer support is advised.
How do you identify and avoid phishing and malware campaigns?
- Always check the emails you receive and the websites you log into. Many successful attacks involve fake websites, emails, and messages from services with which you have accounts. Malicious browser extensions and applications are often to blame for compromised accounts or wallets.
- When you install browser extensions or applications, these programs can gain full access to various aspects of your browser or device, potentially allowing unauthorized access to your online accounts (including exchange accounts) and even personal wallets.
- Exercise caution when selecting browser extensions and applications, especially those that are crypto-related or claim to offer security for crypto activities. Try to limit your usage to known and reputable options and stay aware of potential security issues.
- Make it a habit to check the address of any website you visit and the sources of your emails for accuracy. You may read this comprehensive guide on how to avoid phishing from Binance Academy, which has even more security tips for crypto users.
How does Binance ensure that users remain safe?
Binance offers security measures in place, including cryptographic protocols and multisig, to ensure the integrity and safety of funds. Binance also uses real-time monitoring systems and security notifications to identify and prevent unusual activity.
- KYC Protocols: Binance’s Know-Your-Customer (KYC) procedures adhere to global standards. When accessing services, undergo a thorough verification process, ensuring transparency and compliance with privacy regulations.
- Advanced Encryption Protocols: Robust encryption protocols are implemented across all user data and transactions to safeguard sensitive information from unauthorized access.
- Regular Security Audits: Regular security audits and assessments are conducted to identify vulnerabilities in systems and processes, ensuring prompt remediation and continuous improvement of security measures.
- Comprehensive User Education: We provide comprehensive educational resources and guides to users, emphasising best practices for securing their accounts, recognising phishing attempts, and protecting personal information.
- Strong Account Management Tools: We offer users robust account management tools, such as account activity monitoring, login history tracking, and session management, to empower users to monitor and control their account access effectively.
- Collaboration with Law Enforcement: Partnerships and close collaboration with law enforcement agencies are established to report and investigate suspicious activities, fraudulent transactions, and other criminal behaviour on the platform.
- Compliance with Regulatory Standards: We ensure strict adherence to regulatory standards and compliance requirements related to data protection, anti-money laundering (AML), and Know Your Customer (KYC) procedures to mitigate the risk of financial crimes and illicit activities.
- Dark Web Surveillance: We stay proactive by monitoring the dark web. Platforms like Binance actively share findings with law enforcement, reinforcing a commitment to user data protection.
Real-Time Monitoring: Binance’s real-time monitoring systems, employing AI and machine learning, are utilised to provide immediate risk notifications and transaction safeguards against suspicious activity.
Read: Interview on Binance’s Commitment to Combating Crypto Crime