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Hi Twitter! It's me ( @Adam_T_H) again talking about two-factor authentication (2FA). I know, I know; some people hate hearing me talk about this. However, given the recent release of PII associated with the Ledger data breach, I thought it was important.
First, let me be clear: I know the Ledger folks and find them to be very smart and capable. We will all get through this together as a community.
To provide some peace of mind over the holidays (and beyond), I want to reiterate the value of enabling 2FA on your BlockFi account. Here are some step-by-step directions on how to set it up:
https://help.blockfi.com/hc/en-us/articles/360049343611-How-do-I-enable-2FA-on-my-BlockFi-account-#:~:text=To%20enable%202FA%20on%20your,2FA%E2%80%9D%20button%20to%20get%20started.
https://help.blockfi.com/hc/en-us/articles/360049343611-How-do-I-enable-2FA-on-my-BlockFi-account-#:~:text=To%20enable%202FA%20on%20your,2FA%E2%80%9D%20button%20to%20get%20started.
2FA is important as it helps stop common attacks that are often prevalent after data breaches. If a password is hacked, phished, or guessed, there is still one more barrier to entry: 2FA.
Without 2FA, bad actors can use the available data to gain access to other accounts that are not associated with the service that suffered the breach. We have seen at least one case of this on the BlockFi platform since the Ledger data was posted online.
While 2FA is not a “silver bullet” it does provide a rather effective countermeasure in these cases. A second approval step is critical to keeping your information, and crypto, secure.
We also very much encourage our clients to enable withdrawal address Allowlisting. This puts in place additional safeguards should someone still be able to gain access to your BlockFi account and attempt a withdrawal. More information here: https://help.blockfi.com/hc/en-us/articles/360048862612-What-is-Allowlisting-
TL;DR: PLEASE turn on 2FA and Allowlisting. While we have made significant enhancements to our platform this year, we need your support in keeping your funds secure. Security is a team effort between us and our clients—we like being on the same team.
And as always, if you have any questions, please don’t hesitate to reach out to [email protected] (or shoot me a DM).
