Hack attack damages that could lead to devastating harm and their countermeasures

If you suffer a hacking loss in cryptocurrency trading, you will experience irreparable, devastating damage. Cryptocurrency exchanges are hacked every year. For past hacking losses, they are summarized in another article (Past cryptocurrency theft incidents). In domestic cryptocurrency exchanges, smartphone apps have been developed and are used by general users. Currently, attacks on exchanges are the main threat, but in the future, harm may expand to ordinary users as well. There is always a risk of having your exchange account hijacked by phishing emails pretending to be an exchange. However, these risks can be avoided or minimized by implementing countermeasures.Bitcoin WalletTherefore, we would like to raise awareness of the risk of theft of cryptocurrency and show how to mitigate that risk.■ Measures learned from past cases (Past cryptocurrency theft cases)When storing cryptocurrency (crypto) on an exchange, there are two potential threats. 1. Assets may be lost due to hacking attacks on the exchange. 2. The PC or smartphone itself may be hacked, leading to leakage of personal information, two-factor authentication codes, and account access, resulting in asset loss. To address the above, we recommend the following: 1. Do not leave cryptocurrency on the exchange; move it to a wallet. 2. Use hardware wallets such as Ledger Nano S or Trezor, which require on-device authentication for operations.■ Hardware WalletsI have previously written comparison articles for Ledger Nano S and Trezor hardware wallets. Ledger Nano S and Trezor comparison articleWhen purchasing Ledger Nano S or Trezor, note the following. Hardware wallets for cryptocurrency can be purchased on Amazon, Yahoo! Shopping, or Rakuten. However, these shopping sites allow almost anyone to open a store. Even with Amazon Prime shipping, most products are not sold by actual Amazon. Hardware wallets are items used for security. Please purchase from an authorized reseller of the manufacturer.※ All URLs listed on this site are official distributors.Ledger Nano S (Ledger Nano S) official distributorThe only official distributor of Ledger Nano S in Japan is "Earth Ship." At the peak of the cryptocurrency bubble, Ledger Nano S was out of stock and hard to obtain. Now it is in stock, so it can be obtained relatively quickly. Purchasing from an official distributor is the cheapest option.   TREZOR official distributor ■ SummaryManage cryptocurrency more strictly than fiat currency. If you leave it on an exchange, you are always at risk of hacking. Hacking does not only mean direct theft of cryptocurrency. Hacking can also result in suspension of buying, selling, or withdrawing cryptocurrency deposited on an exchange. I myself experienced the Coincheck incident, and while the market was falling, I could do nothing but watch as my assets declined. To avoid ending up in a situation like mine in the past, use a hardware wallet.

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