Following the hacking of Ethereum co-founder Vitalik Buterin's social media account, Binance CEO Changpeng Zhao (#czbinance ) made an impassioned call for the adoption of hardware two-factor authentication (2FA) for all crypto platforms. The hacked account was manipulated to distribute a crypto connection for fraudulent purposes, which reportedly resulted in the fraud of users' funds.

Addressing the social media platform X, CZ emphasized the importance of using a hardware 2FA system, specifically mentioning "Yubikey". This USB-like device generates a unique one-time password (OTP) for secure account access and transaction verification. Cz's emphasis on such tools stems from his past experience with his own Twitter account, which was a target of hackers before the period he describes as the "Elon era".

Exploring the advantages of Yubikey in more depth, Binance's X account noted that the hardware provides an extra layer of security that can critically reduce the likelihood of accounts being compromised. Answering questions about the reliability of Google Authenticator, Binance stressed the value of combining multiple security features and defended the combination of Authenticator and Yubikey as an exemplary defense mechanism.

The incident with Buterin led to a discussion about the nature of hacking about X. Many have speculated that he may have been caught up in the SIM swap attack, meaning that other accounts linked to him, perhaps even his Coinbase, may have been compromised. In-chain analyst Yazan reminded users about the vulnerability of SMS Verification and asked for the adoption of 2FA applications to improve security.

The incident has sparked skepticism among some who find it hard to digest that Ethereum co-founder Buterin may be using a Deceptively primitive SMS 2FA system. Adam Cochran suggested that Twitter should be examined for its role in piracy, while another user named Crypto King expressed surprise at the perceived laxity in security measures of some high-net-worth people in the crypto space. #Binance #crypto2023 #bitcoin