07 December 2020

Crypto Wallets | Two-factor authentication

Written By Viktor Gergely and Bryan Hunt

Crypto Wallets | Two-factor authentication

Cryptocurrency systems and applications are not under central regulation, and the openness of this world implies a large number of attacks against the various digital currencies. When your user authentication is enhanced by means of two or multi-factor authentication (2FA or MFA) in addition to your username and password, you may feel that access to your wallet is secure. Is this necessarily true? Find out on the Erlang Solutions blog.

The aim of the scenarios in this blog post is not to encourage malicious activity, rather to show the vulnerabilities of crypto wallet sites where authentication and credential modification are based upon a particular set of approaches. Based on our growing presence and experience in fintech services, we are happy to help you with analyzing and improving the level of security of your existing system, or building a system that complies with the up-to-date security standards.

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