The account was hacked by some individuals who go by the alias “Chuckle Squad”. Changpeng Zhao was concerned about the events and he took to Twitter to caution users who have accounts with Binance, the largest crypto exchange.
The CEO tweeted that users should use Yubikey to keep their accounts secure. This is a two-factor authentication made by a company called Yubico. Binance announced a few months ago that it would now support the two-factor authentication from Yubikey, the Yubico hardware-based security key.
The exchange picked this system after the security breach it suffered in May. Since then, there has been a lot of significant changes to the 2FA, API as well as withdrawal validation areas.
The information Zhao shared may be beneficial to all crypto holders and not just Binance coin holders. Social media platforms have set strict security policies and yet, the hack of prominent people is still on the rise. Dorsey’s hack was shocking to everyone in the space. During the hack, so many racial slurs were tweeted. The tweets were all taken down and Twitter Comms reassured other users that Twitter’s system was not compromised. However, it took about 90 minutes to secure the account.