Key takeaways

  • An account takeover occurs when a malicious actor steals login credentials in order to take over online accounts.

  • This is an increasingly common type of identity theft that affects both individuals and businesses.

  • Learn the warning signs of an account takeover and how to spot such attacks in this blog post from our Stay Safe series.

An account hack can lead to the theft of your cryptos or your personal information: learn to spot the warning signs to protect yourself.

What would you do if you found out one morning that all your crypto savings had disappeared? The theft of funds is only one aspect of the situation experienced by victims of account hacking.

In account takeover, cunning cybercriminals take control of unsuspecting victims' online accounts to steal their funds or personal information, and these stolen identities may even be used to carry out other malicious activities. Unfortunately, these criminals use many tactics to steal login credentials, including malware and social engineering attacks to trick their victims into disclosing information.

However, it is not uncommon for such attacks to leave traces, which can constitute red flags: knowing how to recognize them can help you take appropriate measures to protect your account from hacking.

Warning signs of an account takeover attempt

Requests for sensitive information or account access

Be careful if you receive calls, messages or emails asking you to hand over personal information or login credentials: genuine service providers will never ask you to disclose such sensitive information through such means.

Suspicious emails or messages

If you receive messages or emails that seem strange or unexpected, it may be someone using phishing tactics to obtain sensitive information such as your user name. username, password, or two-factor authentication (2FA) code. Be wary of messages containing suspicious links or asking you to take urgent action, such as updating your password. Remember that such messages are sent from unknown email addresses and are often riddled with spelling mistakes or grammatical errors.

To avoid phishing attacks, we advise you to set an anti-phishing code known only to you. This unique code will be included in all official Binance emails so you can be sure it is from our teams.

Fluctuations in account balances

Monitor your asset balances and transaction history regularly: keep an eye out for surges in trade or order volume, withdrawals that you did not initiate, or transactions that you do not do not recognize. If you are a Binance user, you can immediately report any unusual activity to our customer service team.

Unable to log in to your own account

If you can't sign in using your regular login credentials, someone may have changed your password, or your two-factor authentication method may have been changed without your knowledge to cut off access to your own account.

Unauthorized changes to account settings

If you notice unexpected changes to your account settings, such as contact information, email addresses, or security preferences, someone else may be trying to take over.

Other Tips for Identifying Account Takeover Attempts

Configure alerts issued by Binance

In your Binance account settings, enable notifications for unauthorized activities like changing passwords, login attempts, or withdrawals. If you receive alerts from Binance informing you of activities that you did not initiate, it means that someone else has access to your account.

Enable two-factor authentication (2FA)

Two-Factor Authentication (2FA) helps protect your Binance account by adding a verification step to the login process, making it more difficult for hackers to gain access to your account. Access keys, the Google Authenticator application and codes received by SMS are all examples of 2FA.

In addition, activating 2FA allows you to receive an alert each time you attempt to connect to your account, whether you initiated it or not.

Observe connection habits

If you notice logins at unusual times or browsing paths that are not normally yours, this may indicate someone else is using your account. For example, if you have a habit of logging into your Binance account on your way home from work, but you receive a notification that your account was active early in the morning while you were sleeping, this suggests that someone else was there. access and used it.

Check the list of associated devices

Any connection to an account using a device that has information (such as type, operating system, browser version, IP address, and unique identifiers) that differs from devices typically associated with the account may be a sign of an unauthorized connection attempt. An attack can also result in suspicious login attempts from locations far removed from the usual or normal ones.

These red flags don't necessarily indicate an account takeover attempt, but they should alert you: investigate, change your password immediately, and enable multi-factor authentication (MFA) to add a protective layer if possible. If you think your Binance account is in danger, contact customer service immediately.

The importance of regular account audits

When it comes to account security, prevention is better than cure, and regularly reviewing and evaluating your account security settings is an excellent defense against attacks. By regularly checking your accounts, you will strengthen their security, be able to spot compromised accounts, detect suspicious activities earlier and identify unauthorized access.

To audit your accounts, you can, for example, review access permissions, monitor activity logs, and update security settings.

Binance security teams continuously monitor suspicious activity to optimize security measures; As soon as Binance receives a report of an account hack submitted by a user, we open a thorough investigation into the causes in order to help victims. If you believe your Binance account may have been compromised, contact customer support as soon as possible.

Want to learn how to better protect your accounts? Look out for the next article in our Stay Safe series, which will provide additional tips for avoiding account takeover attempts.

For more information

  • Stay Safe: What is an Account Takeover?

  • Secure Your Binance Account in 7 Simple Steps

  • Stay Safe: How Do Hackers Get Their Hands on Login Credentials?

Disclaimer and Risk Warning: This content is presented to you “as is” for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor as a recommendation to purchase a specific product or service. Prices of digital assets can be volatile. The value of your investment may go down as well as up and you may not get back the amount you invested. You are solely responsible for your investment decisions and Binance is not responsible for any losses you may incur. This does not constitute financial advice. Please see our Terms of Use and Risk Disclaimer for more information.