Everyone is concerned about online security, convenience, and other features of cloud-enabled platforms. Cloud syncing can help you maintain security across multiple devices and platforms, but inadequate security provisions are risky and can make you more vulnerable to online attacks. The recent update to Google Authenticator requires extra caution, especially regarding the safety of your crypto assets and other online valuables.
Google Authenticator enhances online security as a two-factor authentication (2FA) application, creating a virtual shield around your online accounts. When attempting to log in to such accounts, the app sends a time-based one-time password (OTP) to your mobile device. Successful login requires the verification of the generated OTP.
Thus, Google Authenticator excels in the following areas:
Google Authenticator significantly complicates attempts to breach online accounts. When you integrate any of your accounts with the app, every attempt to log in to these accounts would require your approval. As the app is installed on your mobile device, only you can authorize logins. Without entering the generated OTP, which Google sends exclusively to the device that has the app installed, login attempts will fail.
Google Authenticator functions both online and offline. After activating the app on an account using a QR code or secret key provided by Google, the app automatically generates OTPs. Therefore, you don’t need to be connected to the internet all the time to use the app. The randomly generated code digits, valid for 30 to 60 seconds, make it challenging for hackers to breach your accounts via the app since they can only use online means to attempt it.
You can use Google Authenticator for multiple accounts. For example, if you are a data analyst on a freelance platform and a crypto trader, you can activate Google Authenticator on both platforms. The code generation engine that is part of the app on your mobile phone is separate for each platform, ensuring that the app doesn’t generate the same OTP for multiple accounts. This makes it very convenient to use Google Authenticator to boost the original security layout of these accounts.
The recent update to Google Authenticator introduces the ability to sync 2FA codes with your Google account. This feature facilitates access to your 2FA codes in case you ever lose the device with Google Authenticator. So, Google has devised a means for you to store a one-time code securely, enabling authentication without relying solely on the device with the running authenticator app.
The update aims to enhance the security of your account and provide more convenient authentication options. With the update, you gain greater control over your online accounts, eliminating the difficulties inherent in moving about with the device with Google Authenticator just so you can approve account logins whenever you need to.
So, the update strengthens the extra layer of security provided by Google Authenticator’s linkage to your online accounts. It improves the authorization process while simultaneously protecting accounts from unauthorized access.
Google initially excluded this feature due to concerns about possible breaches of user accounts. Hackers who gain access to your Google account could potentially obtain authentication rights over all accounts linked to the app. As such, it is a matter of increasing convenience and the quality of security, but also reducing the efforts that hackers would need to breach your online accounts.
The main drawback of the new update is the increased potential risk of unauthorized access to accounts linked to Authenticator. Without enabling the update, you can only approve access to these accounts from a single device. However, with the update with syncs 2FA security across as many devices as have your Google account running, you are more vulnerable to hackers.
If a hacker gains access to your Google account, they automatically gain access to every account linked to Google Authenticator. With the one-time code stored in your Google account, they can gain access to everything else.
This poses a threat to users with crypto assets, especially those who secure their crypto accounts with Google Authenticator and turn on cloud sync. For them, hackers no longer need to target accounts individually; they can focus on hacking the Google account and use the one-time 2FA code to authorize attempts to steal assets.
Regarding the update, some users have provided positive feedback. They no longer need to carry a mobile device solely for Google Authenticator or write down secret codes. Instead, they can easily authorize account access from any of their devices, provided they can access their Google account.
However, other users are concerned about the implications, especially the perceived increased ease with which hackers can breach their crypto accounts. While the increased risk is currently hypothetical, the average user is apprehensive. Previously, hackers would need to breach multiple crypto accounts individually, but now they potentially gain access to all of them by compromising a user’s Google account.
It is important to note that the Google Authenticator update is optional. You are not required to install it. This is a relief in and of itself. However, your decision will impact how you use the app going forward.
Enabling the update offers greater convenience for authorizing access to linked accounts but also exposes you to the potential risk of losing your cryptos if your Google account is successfully breached.
The most practical choice is to keep your authenticator app as it is and not enable the new update. This way, although you will miss out on the improved convenience of account login authorization, you will also avoid the increased risk of losing all your assets. Enabling the feature makes the risk of losing your crypto assets from hacker activity more likely.
Thus, we recommend that you choose security over convenience. The risk of losing all your crypto assets to one successful breach is too great.
More more useful articles keep tuned via Kyrrex Blog.
On February 6th, 2023, Turkiye and Syria were struck by a series of powerful earthquakes, leaving widespread devastation in their wake.
Kyrrex team extends its sincerest condolences to all the victims of this tragedy. Our thoughts and condolences go out to those who have lost their loved ones, to the injured, the homeless and the governments of the two grieving countries.
The world stands united in the face of this tragedy, and Kyrrex remains hopeful that, through the tireless efforts of rescuers and aid workers, the affected communities will soon begin their journey to recovery.
In times like these, it's important to come together as a community and support one another. Join in supporting the victims of this earthquake, and encourage everyone to stay informed and engaged as the situation develops.
We are thrilled to announce that Kyrrex is furthering its partnership with Pramac Racing into 2023 and beyond! As our users know, the Kyrrex & Pramac combo has been very successful, helping to provide visibility for our suite of Kyrrex products.
Several Pramac racers already attained a podium finish while proudly sporting the Kyrrex logo on their uniforms. We hope to continue this trend and achieve even more Pramac wins, and Kyrrex is committed to helping make that happen.
This year, we have planned even more exciting collaborations as we continue pushing the boundaries of innovation and striving for industry leadership.
In addition to our main partnership with Pramac Racing, we are thrilled to announce that Jorge Martin, Pedro Acosta, and Aleix Espargaró will continue serving as Kyrrex ambassadors in 2023. These talented riders embody Kyrrex's spirit of innovation and excellence, and we are honored to have them represent our brand.
We are very excited about the future of Kyrrex and Pramac Racing. Together, we will continue to push limits and achieve great things.
Thanks to all our users for your support and we look forward to sharing more exciting updates with you in the near future!
Your Kyrrex 💚
The Kyrrex crypto trading team continues to support Ukraine in its struggle for freedom and independence. The Kyrrex Charity was created for this purpose and welcomes more support and donations from all quarters.
Over 1.5 million UAH ($53.000)have been collected both from our interested users and the Kyrrex team. All proceeds were donated to the Kyiv City State Administration.
Vitaliy Klitschko, the Mayor of the capital, thanked Kyrrex for its valuable assistance:
"By helping in this difficult time for the country, you are not just providing material value, but also giving us the confidence that together we will overcome any difficulties. Stand up and win!", - says the official letter of thanks from the Kyiv Mayor's Office.
The funds will be used to buy food, fuel, medicine, and personal protective equipment for the civilians and defenders of the country. We regard it as an honor and a privilege to unite with these men and women of great courage in the cause of justice and patriotism.
The Kyrrex Charity continues to explore all avenues to raise support for Ukraine. We have set up three cryptocurrency wallets to make donations easy for digital friends of the Ukrainian nation:
Let's support the defenders of Ukraine and those who work for the good of the Ukrainian free nation!
Glory to Ukraine!
Great news today!
We are proud to announce to all our users and community a new partnership between Kyrrex and the Pramac motorcycle racing team competing in the MotoGP World Championships.
According to this partnership, Kyrrex will become an official sponsor for Pramac Racing and their MotoGP team. The Pramac Racing team is represented by two phenomenal riders - Johann Zarco, the 31-year-old Frenchman, and Jorge Martin, the 24-year-old Spaniard.
Partnership with Pramac Racing definitely reflects our values and qualities: dynamics, velocity, and freedom. We believe that our new partnership will help both Kyrrex and Pramac Racing reward fans and users with new challenges and victories and open up new horizons.
Win with Kyrrex! 🚀
The Presale period of Kyrrex native ecosystem token KRRX is going to start today. It’s an outstanding opportunity for investors to purchase for a price of $0.70 for a token. The minimal purchasing limit equals 500 tokens for one investor. You can carry operations with KRRX coins after listing on top exchanges at the end of November 2021.
Tokens provide extremely useful features within the Kyrrex ecosystem like decreasing trading commissions, opening new options in the Kyrrex deposit program and increasing profitability, providing extra rewards in the referral program, and so on.
It’s the right time to invest in KRRX crypto and get great opportunities!