As phishing attacks rise, crypto exchanges tell users to keep their funds safe by using YubiKey devices and Passkeys, along with hardware wallets.As phishing scams rise, some cryptocurrency exchanges have started to encourage users to incorporate specific devices to protect their funds.Jacob Klein, director and head of trust and safety at Coinbase, told Cointelegraph that Coinbase was one of the first crypto exchanges to provide YubiKey compatibility.
This can be helpful, as Klein noted that account passwords can get lost or even breached in phishing attacks. For example, Klein shared that Coinbase supports a new form of MFA called “passkeys,” which are “a form of user authentication that uses a cryptographic technique linked to a user’s device, like their smartphone.”released
Tom D’Eletto, head of product at crypto security platform Arculus, told Cointelegraph that while software passkeys are a step in the right direction, a hardware-bound passkey — whether it is a USB dongle or an NFC-enabled card — is the gold standard for security.by both passkeys and YubiKeys. He shared that Arculus recently implemented its own FIDO2-certified keys, which come in the form of a metal credit card.
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