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Binance CEO Warns of Phishing Attempts After Uniswap Founder Was Hacked

Binance CEO, Changpeng “CZ” Zhaowarned of the growing number of phishing attacks.

July 21 in CZ Twitter warned its followers about the end Increase in socially engineered phishing attacks and other scams on the web. It has also been recommended that users of the cryptocurrency exchange use two-factor authentication (2FA) hardware devices instead of relying on SMS-based systems.

I recommend enabling 2FA with a hardware device (Yubikey) for all cryptocurrency exchanges,” wrote the Binance CEO.

On July 20, the account of Hayden Adams, founder of Uniswap, was hacked.. After hacking Adams’ account, the hacker attempted to defraud his followers through a malicious link posted on his page. Fortunately, the community soon became aware of the scam attempt and warned other users.

Adams regained access to his account within a few hours. He also promised to reveal more about the incident in the future.

The amount of social engineering attacks in the cryptocurrency industry is increasing. at the beginning of July, Bryan Pellegrino, CEO of LayerZero, attacked by SIM Swapping This allowed hackers to take over his Twitter account for a short time. Pellegrino hypotheses That the attackers were using the Slam conference speaker badge that he had thrown in the trash.

Blockchain security experts believe that these attacks may increase further in the future.

According to “23pds”, SlowMist’s IT security manager, SIM Replacement techniques do not require high technical skills. After it was reported that Uniswap’s Adams had returned to Twitter, 23pds commented:

“Last week, I was interviewed about the current state of SIM Swapping-based hacking attacks. I didn’t realize there were so many attacks in such a short time.”

To prevent SIM Swap attacks, experts recommend limiting the number of services that use SMS for 2FA checks and instead rely on apps like Google Authenticator or Authy.

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