Post
Topic
Board Exchanges
Re: Make Sure You have 2FA enabled on your exchange accounts
by
magneto
on 05/05/2019, 08:38:23 UTC
Microsoft Support was hacked and hackers got access to @outlook, @msn, @hotmail mailboxes. They use this access to do password resets on users exchange accounts and steal their money. You can read more about it here.
https://cryptostar.money/blog/users-robbed-due-to-microsoft-errors-enable-2-factor-authentication-now/

Enabling 2FA shouldn't be something that is done AFTER news of hacks come out. Oftentimes when the news comes out, it's already too late if the exchanges don't do a good enough job of securing customer funds or react fast enough.

You should be doing this as the first thing when you open any new accounts on exchanges, before any sum of money is deposited or traded. That said, if you haven't done it, it's never too late, especially if you know that your email provider is one of these.

I've seen so many cases in which users lose funds inexplicably but they can't prove anything because they haven't enabled 2FA. They then proceed to blame the exchange for their losses, but they have absolutely no proof to back it up which means that it leads to absolutely nothing. Just take the necessary precautions and you should be good.