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Matrixport Recommends Users to Turn on Google Authenticator and Turn off Cloud Backup Function

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Matrixport Recommends Users to Turn on Google Authenticator and Turn off Cloud Backup Function

June 20
14:56 2024

Given the frequent network attacks and other security incidents in recent days, on June 19th, Matrixport reminded the users to focus on network security and take proper asset protection measures. Also, Matrixport recommends that users turn on Google Authenticator and turn off the cloud backup function to improve account security.

The recent surge in security incidents in the crypto market has brought asset security to the spotlight and highlighted the need for a sustained effort to tackle the issue by the whole crypto industry.

On June 19th, Matrixport published a security reminder, listing the common security attack methods, including phishing, Man-in-the-Middle Attack, and software and hardware vulnerabilities, with detailed protection measures. Matrixport recommends that users turn on the Google Authenticator: bind their account to the Google Authenticator APP, and disable the cloud backup function of the APP. This makes it more difficult to leak users’ personal information and enhances account security. Matrixport also recommends that users reinforce their security from three aspects: password security, secure access, and regular monitoring.

In addition to advocating user awareness of security protection, Matrixport also reinforces its security level from within, providing all-round protection for user assets in terms of asset security, account security, and risk control, including dynamic assets re-allocation between hot and cold wallets; storing wallet private keys in HSM encryptor for stronger assets security; dual measures for increased account security and reduced asset loss due to stolen accounts and other security incidents; 24/7 user activity tracking and measures immediately taken once there is a high-risk activity warning. In addition, Matrixport has also adopted an end-to-end design and the Four-Eyes Principle to minimize internal malicious activities.

So far, the security licenses that Matrixport has acquired include ISO 27001, ISO 27701, SOC 2 Type 1, and SOC 2 Type 2. The industry-leading digital assets custody solution Cactus Custody™ developed by Matrixport has achieved zero-incident performance since the establishment of Matrixport with its bank treasury-level security protection, cold and hot storage separation, and multi-layer security mechanism. In the meanwhile, Matrixport has secured $50 million insurance coverage for digital assets held with Cactus Custody™, providing yet another layer of protection to user assets.

About Matrixport

Established in 2019, Matrixport stands as the world’s leading one-stop hub for crypto financial services. We are committed to building an entry-grade ecosystem for the crypto space, by providing every cryptocurrency user with an personalized super account that integrates products and services of assets trading, investment, OTC, research, and more, helping users sustainably earn from their crypto investment.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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Company Name: Matrixport
Contact Person: Ivy
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Country: Singapore