IOTA hacked? How to save your money?
Cryptocurrency security is one of the most important moments when working with digital assets. In our turbulent time, hackers literally daily develop ways to hack and steal your coins. Therefore, it is simply necessary to acquire reliable software solutions for placing the crypt. But, unfortunately, even the safest wallets can still be hacked. Today it happened with the IOTA repository. Next, we will tell you what the news consists of, as well as give a number of rules that will help you keep the cryptocurrency safe and sound. So let’s get started.
How hackers cracked IOTA
IOTA is, until recently, a reliable solution for placing cryptocurrencies. The well-known project was trusted by serious investors who placed huge sums of money in the vast spaces of the store. But literally today there were reports that 6 (according to other sources – 7) of the largest accounts were robbed. It is noteworthy that the hackers acted in the most unusual way and did not use scripts. That is, the wallet, by and large, just opened and withdrawn all the money from there. The developers claim that this is possible only by selecting a seed-phrase. The latter denotes a certain combination of words, it is used to confirm transactions and enter your personal account. All accounts were opened on Windows, except for one; it worked on MacOS. Surprisingly, the mobile wallets were not touched.
The company found out about the hack through Twitter, where complaints began to arrive. The creators of the program noted that they have very few signs of hacking. Since no scripts were used, the entries in the usage logs contain standard operations. This data is not enough to catch intruders. Only the numbers of the stolen blocks are known. IOTA has already contacted law enforcement and digital exchanges. If the crypt is put up for auction, the scammers are doomed.
But until then, IOTA has asked not to use the mobile version of the wallet and to suspend transactions in the computer version of the program. The developers are sure that there is a vulnerability in all clients, it remains to be identified and eliminated.
How to save cryptocurrency?
Nobody wants to repeat the fate of IOTA users, so let’s figure out what is needed to save digital assets. Here are a number of rules that you need to follow steadily:
- Do not store money on exchanges. Hacking a well-known wallet is also a high-profile event because many inattentive users will start transferring big money to exchanges. Hackers drive traffic to weakly protected resources so that they can easily crack passwords and withdraw funds. Remember, even giants like Binance and Bitfinex are not designed to hold large amounts. It is much easier to withdraw money from the exchange than from a wallet;
- Duplicate passwords. Secret combinations should be stored not only in your memory, but also, say, on a piece of paper in a safe. It is advisable to use long passwords with different registers, alphabets and characters. Such combinations are simply impossible to guess and difficult to pick up;
- Get different mails. Do not link all accounts to a single email address. You need to store passwords and logins at different points. Then the hacker, having opened your mail, will not receive too much information and you will minimize risks;
Make sure all recommendations apply to your accounts. Only in this case can you safely say that your money is safe. Follow the news of the crypto industry with us, we publish only high-quality, interesting material. Thanks for attention. Good luck!