Crypto exchanges such as Binance and OKX, which are known for their leading positions in the market, have sent their users warning emails about important changes related to Google Authenticator. Here are the details…
Binance warns users about Google Authenticator
In the warning message sent by Binance, it was announced that one-time verification codes created by Google Authenticator, which offers two-factor protection, can now be obtained and stored on multiple devices, which brings potential risks. The warning emphasized certain points that users should pay attention to. As part of the new feature, Google Authenticator allows one-time verification codes to be received and stored on multiple devices using a single Google account. While this may seem like a useful feature, it also poses a real security risk for Binance accounts.
In the email, users were warned that all one-time codes associated with their Binance account could be compromised if their Google account is hacked or compromised, including those crucial to cryptocurrency funds. Additionally, Binance reminded users to “disable the Google Cloud sync feature for two-factor authentication (2FA) to keep their crypto funds safe.”
As a result, one-time Authenticator codes will now be received using a single Google account. It can also be stored on multiple devices. While this feature may seem useful, it poses a security risk to the Binance account. All your one-time codes could be vulnerable if your Google account is compromised or hacked. “To protect the security of your crypto funds, we highly recommend disabling the Google Cloud sync feature for two-factor authentication (2FA) on Binance,” the exchange says. Instead, it recommends users use the 2FA alternative, Binance Authenticator.
What is Google Authenticator?
Apps like Google Authenticator provide an additional layer of security when accessing and transacting with crypto exchange accounts like Binance. The application generates a verification code required to access exchange accounts. This code is only generated by the Google Authenticator app installed on the user’s physical device. As a result, simply having a username and password is not enough for an attacker. They must also have the verification code.
2FA verification is a crucial layer of security to add to your online accounts. However, if you receive the codes via text message, you are vulnerable to attacks. A better way to manage these quick codes has so far been to use an authenticator app like Google Authenticator or Twilio Authy. When you use an authenticator app, multi-factor codes can be used within the app instead of a text.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.