Beware: The TrickBot Is Now Attacking Coinbase Users

Beware: The TrickBot Is Now Attacking Coinbase Users

What is TrickBot?

A Banking Trojan is a malware which was used by hackers to gain access to bank details. That’s why the Bitcoin community is rushing to protect bitcoins so that they are in a safer place. When you purchase Bitcoin on Coinbase, they’re on the online wallet which you need to make secure with 2FA. If you haven’t, you could be easily targeted by this malware. Apparently, it cannot bypass 2FA on its own, but account without 2FA are easily hacked. The latest version of the malware is able to steal money from Coinbase accounts independently. This malware is representative of Bitcoin’s issues; so many hacks which can cripple the whole community in minutes. Without wholesome security solutions, you could lose all of your investment!

Why Should You Protect Bitcoins?

Well, that’s because a Bitcoin has a private key. That private key is only known by the owner of the bitcoin at a specific time. Now, if someone gets access to your private key, the person can pretty much say that it’s theirs and you can lose your investment. That’s why you absolutely need your first bitcoin wallet to protect your investment from hackers. A Bitcoin wallet is essentially a program which helps you store your bitcoin securely. These hardware wallets are generally more secure than online wallets and provide more services. When you purchase Bitcoin on a website, there’s good chances that you already have a free wallet created for you on the website. There’s a number of reasons why you should choose to buy bitcoin wallet rather than using an online wallet to store your Bitcoin.

How Can You Protect Bitcoins?

We recommend people to purchase the Ledger Blue in order to protect their Bitcoin from Trickbot. The whole idea behind bitcoin hardware wallet is that your bitcoin information is not stored in a system with an internet connection. If there’s an internet connection, people might be able to hack into the system, but a bitcoin hardware wallet can’t be broken into unless someone steals it from you. Inside the Ledger Blue, there’s a secure element which makes sure that the bitcoin hardware wallet is unhackable. The secure element acts as a storage for the software which keeps your Bitcoin’s private key. This eliminates any risk and you can protect bitcoins from Trickbot.

On the Ledger Blue, you can also activate physical two-factor authentication. A physical two-factor authentication is a simple solution to prevent your bitcoin from being stolen. Essentially, when you want to send altcoins to someone, you write that transaction on your computer. Then, you connect the Ledger Blue and the transaction will show up on the screen. To complete it, you need to press a physical button. That means it can’t be faked and thus can’t be hacked by someone on the internet. So, even if someone has access to your computer, nobody will be able to transfer your altcoins from your altcoin wallet. The Ledger Blue has this feature and therefore provides high security for your altcoin.

Check out our article on how to buy and protect bitcoins safely and securely.

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About Article Author

Martina Kelowsky
Martina Kelowsky

Currently working on her Master Degree in Economics & Computer Science she lives in Russia. She is a Bitcoin Enthusiast since 2013 and Investor in various ICO since 2014. She aims to democratize a future where money is decentralized and transaction anonymous.

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