As Bitcoin prices sore to new record heights in 2021, cryptocurrency management has become one of the biggest topics of discussion for investors. Some even say that cash will become a thing of the past as these evolving forms of digital currency take flight.
Crypto is the currency of the future. As it grows in popularity, cyber attackers and criminals find it an attractive target for digital theft and financial fraud. Investors, exchange organizations, and all stakeholders must adopt security practices to reduce the risks and protect their financial accounts and digital assets.
Coinberry is taking a proactive and technology-centric approach to digital security by encompassing dark web scanning and account takeover prevention as part of the investor experience. We proactively scan the dark web looking for our member’s personal data. We do this to protect our investors’ accounts, funds and data as well as to have advanced breach detection for our platform while adding even more safety and credibility to the financial eco-system in Canada.
One of the best ways to manage your digital security is to identify and address cyber threats and incorporate threat intelligence that can provide insight into potential breaches before they occur by having a Coinberry account with free dark web scans.
Account hacks can have significant impacts. Financial losses are often realized and unrecovered when a malicious actor transfers crypto from a hacked account. Hacks also lead to greater uncertainty in cryptocurrency and increased volatility in the market. Exchanges suffer reputation damage and the resulting loss of trust further damages the digital financial sector. Smaller exchanges tend to get targeted more because they are known to have less secure systems and practices than larger exchanges that have greater resources at their disposal.
No one is safe from sophisticated cryptocurrency hackers and it is the responsibility of every investor to secure portfolio of digital assets.
Addressing cyber risks to cryptocurrency also means addressing the human element. User behavior can prevent almost all cryptocurrency hacks.
When investing in cryptocurrencies;
• Use the most secure storage options, choose wallets that prioritize the security of data. Where that is not possible, use physical or offline wallets.
• Use a strong password and avoid using the same password for multiple accounts.
• Enable two-factor authentication.
• Deal with trusted and reputable cryptocurrency platforms that leverage the highest compliance, regulatory and security standards to protect accounts.
• Use only trusted mobile apps that have been downloaded from trusted sources.
• Understand social engineering attacks like email phishing, a common method used by cybercriminals to obtain account credentials.
• Use a secure device when trading online.Protect your smartphone or computer with a good antivirus program and ensure it always has the latest updates.
• Avoid public hotspots and free internet when accessing your financial accounts.
• Use a VPN from a reputable provider to protect your online transactions.
Coinberry is Now Backed by Financial Bonding Insurance!
We are now backed by a form of insurance that protects against financial losses due to dishonest acts and unethical behavior from Coinberry employees.