• Sat. Apr 13th, 2024

Near Protocol to Disclose Breach of SMS Data and Emails Tied to User Wallets

Hassan Mehmood

ByHassan Mehmood

Aug 10, 2022

Crypto wallets have become the main thing when it comes to storing cryptocurrencies and then using them at a later date. It adds tons of security to your crypto tokens and safeguards the assets from any kind of criminal activity or hacks taking place in the crypto world.

NEAR Protocol which is a layer-1 Blockchain entity, has recently disclosed that the emails and the SMS data from the platform got leaked to third-party members; whether it was done intentionally or just out of the blue that happened on its own remains unknown. For all its worth, it could be the doing of a malicious actor, to say the least.

Whenever signing up for a crypto wallet, the users are allowed to enter their personal details as it is a regulatory setting that is required to sign up for the wallet. But once all the signing up is done, the users can later add their personal phone numbers or even emails as a recovery option so that in the event of their crypto wallet landing in the wrong hands, they can recover the controls by verifying their identity.

It is not a new thing, as many companies and wallets have also enabled two-factor authentication, which means that you won’t be able to gain access to your wallet unless you complete the second sign-in process via your email or smartphone.

NEAR Protocol’s Warning to Users

NEAR protocol has further claimed that all the systems are functional and there was not any hacking of the systems involved, and neither the integrity of any user wallets was compromised. All the users of the NEAR protocol have been made aware of this setting via email communication.

But this definitely has crossed off the trust that users or third party members had on the functioning of NEAR protocol working as an impenetrable crypto secure fort because, as it happens, it is not, and information can slip right up and away to the third parties which in no way is an excuse or something that can be just swept under the carpet.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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