Password attacks in crypto are prevalent, but with the right knowledge you can avoid them altogether. Below, we outline six types of password attacks and effective preventive strategies.
1. Phishing Attacks
Definition: Phishing involves fraudulent attempts to obtain sensitive information, often through deceptive emails or messages.
Examples:
- Regular phishing: Fake emails prompting password resets.
- Spear phishing: Targeted emails from seemingly known contacts.
- Smishing and vishing: Text or voice messages inducing information disclosure.
- Whaling: Deceptive emails impersonating senior figures.
Preventive Measures:
- Enable your OVEX anti-phishing code. This is an 8 character code/phrase/word that you choose. It will appear on all legitimate OVEX systems emails.
- Verify sender details. Ensure the communication comes from a legitimate channel before responding.
- Cross-check with the supposed sender.
- See the official OVEX communication channels and ignore all other solicitations/requests coming from illegitimate sources.
- If in doubt post the supposed solicitation to the OVEX Telegram Channel.
2. Man-in-the-Middle Attacks
Definition: A hacker intercepts and deciphers information passed between two parties.
Preventive Measures:
- Enable encryption on your router.
- Use strong credentials and two-factor authentication.
- Employ a secure virtual private network (VPN).
3. Brute Force Attacks
Definition: An attacker systematically attempts numerous password combinations.
Preventive Measures:
- Utilize complex passwords.
- Use special characters in your password.
- Implement two-factor authentication (2FA).
4. Dictionary Attacks
Definition: Attackers use known words or personal information to crack passwords.
Preventive Measures:
- Avoid using dictionary words.
- Do not use common words/phrases.
- Consider a password manager.
5. Credential Stuffing
Definition: Exploiting unchanged passwords leaked from previous breaches.
Preventive Measures:
- Monitor your accounts for potential breaches.
- Regularly change passwords.
- Use a password manager.
6. Keyloggers
Definition: Malicious software that records keystrokes without user knowledge.
Preventive Measures:
- Inspect physical hardware regularly.
- Run periodic virus scans using reputable antivirus software.
Conclusion: Proactive Security Measures
To proactively safeguard your crypto exchange account, consider implementing the following security measures:
-
Two-Factor Authentication (2FA): Ensure you enable your 2FA on OVEX.
- Use a Password Manager: Store your passwords in a secure environment.
- Set up Anti-Phishing: Ensure you can verify whether someone is indeed who they say they are. All OVEX systems emails can include your personal anti-phishing code when set up on your dashboard.
- Verify. Verify. Verify: Always pay attention to the source. Malicious actors love to pose as legitimate sources. Always verify the channel and its legitimacy.
By following these preventive measures, you can significantly reduce the risk of falling victim to password attacks and enhance the overall security of your OVEX account. Stay vigilant, stay secure.