OODA Loop – Crypto Security: Protect Your Coins and NFTs From Being Stolen
With crypto prices in free fall, crypto firms laying off thousands of workers and coins that are considered “stable” losing all their value, it’s more important than ever to secure your remaining portfolio. The current crypto crash isn’t the only way people are losing their money. There have been an increasing number of scams that give thieves access to your accounts and crypto assets. Just recently in May, Seth Green had several NFTs worth over $300,000 stolen, after the actor connected his crypto wallet to a scam website pretending to be a credible NFT project. Protecting your crypto means taking some of the same steps you’d use to safeguard your other digital accounts, such as creating and using strong passwords. However, crypto accounts have unique characteristics like seed phrases that require additional security. Also, the crypto industry still lacks the regulatory framework necessary for the retrieval of your crypto assets if they’re stolen.