Quote from: TheKeyLongThumbI on May 09, 2019, 08:20:52 AM

Quote from: jdarren on May 08, 2019, 10:45:40 PM

With the recent Binance hack of 7,000 BTC cyber security firm Ciphertrace pointed out that the reason hackers were able to obtain API keys, 2FA codes and other info was due to hacking hot wallets using a two factor approach, social engineering and SIM card porting of phone numbers.

What Dave Jevans recommends moving forward is a 3FA approach. Has anyone used this or what are your thoughts?

https://cryptobriefing.com/binance-promises-to-cover-7000-btc-lost-in-hack/

What? All this time I thought that activating 2fa on all my accounts made me feel that my funds are very secured but now it is vulnerable? Then that 3FA approach is useless then. I think we need more softwares to successfully track this hackers instead of buffing up the security measures each time it gets breached because these hackers will just study it until they crack the code again and again.

One solution is just to use DEX, We need people to start using DEX and protect themselves from hackers, We should be responsible for our own protection. Hardware wallet + dedicated OS for crypto transactions should be used I think.