After a social media account belonging to Ethereum co-founder Vitalik Buterin was hacked and used to post a crypto scam link, Binance CEO Changpeng Zhao (CZ) urged everyone to adopt hardware 2FA for all cryptocurrency platforms. My Twitter account has been frozen a few times in the past as a result of hackers trying to brute-force it (trying several passwords repeatedly), CZ revealed.
Vitalik Buterin's X Account was hacked, according to the CEO of Binance.
As a result of a social media account belonging to Ethereum co-founder Vitalik Buterin being hacked and used to post a fake cryptocurrency link that stole money from individuals who clicked on it, Binance CEO Changpeng Zhao (CZ) has urged everyone to adopt hardware 2FA on all crypto platforms.
The Binance executive posted a reminder to implement hardware 2FA (Yubikey) for all cryptocurrency platforms on social media site X on Sunday.
Another X post by CZ explained: "Vitalik's Twitter account was compromised. Even from prominent KOLs, use common sense when reading anything on social media. The security of Twitter accounts is not intended for use as trading platforms. It requires a lot more functionality, such as 2FA and login IDs that are distinct from handles or emails, among others. The head of Binance added:
***My Twitter account has been frozen a few times in the past as a result of hackers trying to brute-force it (trying several passwords repeatedly). Before the "Elon era," this happened.**
Users can enable Yubikey as an additional security option to safeguard their Binance accounts. It produces one-time passwords (OTPs) for safe account access and transaction approvals, mostly in the form of a USB, and can greatly lower the likelihood of account hacking or breach, according to the X account for Binance Support.
In response to questions on X about the suitability of relying solely on Google Authenticator, Binance clarified: "If at all possible, use multiple levels of protection. Therefore, combining the Authenticator with Yubikey would be fantastic.
On X, there was widespread speculation that Buterin was a SIM switch hack victim. "Vitalik was likely SIM swapped vs. using SMS 2FA on Twitter (would be terribly surprised if not)," wrote Ouriel Ohayon, CEO of Zengo Wallet. indicating that his other accounts, presumably including his Coinbase, were also compromised. Yazan, an on-chain analyst, issued a warning: "SIM swap attacks can affect everyone. even Vitalik Buterin couldn't. Instead of using SMS verification, go to a 2FA app. You'll be benefiting your viewers.
Some people had trouble accepting the idea that the co-founder of Ethereum was utilizing SMS 2FA. "Should grill Twitter on this cause no way Vitalik is using SMS 2FA and getting sim switched," wrote Adam Cochran in a post. How did Vitalik not have 2FA and a hundred additional security procedures in place, wondered X user Crypto King? How are people still clicking links with $250,000 in assets on their primary device? You have millionaires and billionaires here who are hardly able-bodied.
Do you agree with Binance CEO CZ's assessment of Vitalik Buterin's X account hack? What are your thoughts? Comment below with your thoughts and let us know.