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How to protect your wallet from unauthorised access

Feb 4, 2020

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Cryptocurrency projects are in the crosshairs of many hackers and fraudsters today. A lot of exchanges, wallets and other platforms suffer from DDoS attacks. The most recent one was the attack on the GateHub cryptocurrency wallet in November 2019, which led to a massive data breach.

Freewallet, due to its size, is also seen as a target by attackers but our team successfully counters them. We look out for any unwanted parties trying to gain access to our system and effectively counteract any efforts made by hackers.

However, some users have received notifications alerting them that someone tried to log into their accounts from unfamiliar devices and IP addresses. In this article we will tell you why you’re receiving this notification and what you should do to protect your wallet.

Why did I receive a login attempt message?

Users tend to use the same passwords on every web-site and service they are using. It is a huge mistake for your web security. The rule “Don’t put all your eggs in one basket” applies to cybersecurity too.

The thing is that different services suffer from data breaches when hackers steal user emails, passwords and other personal data. These email addresses and passwords are exposed on the dark web or sold on the black market. Then criminals can get access to this information and try to impersonate you, send messages to other people and even access to your accounts.

There are plenty of services where you can check whether your email address has been leaked or not. It will also show on which website your address has been shared and what information has been leaked. Here are the most popular:

How to protect my account?

If we notice a hacker trying to log in or unusual behavior from a user, we react immediately and send notifications to the user regarding the login attempts. This is a part of the Freewallet security system and a clear sign that you should take measures to protect your wallet.

Freewallet has a full set of options to make your account as secure as possible. If you received this message please do the following:

Update your password to a new and strong one
Enable 2 factor authentication and multi-signature transaction confirmations
Set up daily and weekly transaction limits to increase your security

Please do not share your Freewallet credentials with anyone and do not use the same password for every account and service. Also, don’t forget to install updates regularly and use public WiFi with caution.

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