nfts

How to secure your NFTs?

Daksh Murkute | | |

Imagine that you are a crypto trader, and you have been trading for a few months. After making a lot of money, you decided to invest some of it in NFTs, and hopefully, you bought some of the best NFTs in town.

 

One day, a guy came and stole all of your NFTs just with one click. Now tell me, what would you do?

 

If you think this is just a scenario, then, it's not. It has happened to 32 people who had more than 1.7 million dollars of NFTs stolen from their account by someone who hacked into their account. And the majority of these attacks took place in just three hours, between 5 pm to 8 pm ET.

 

After all of this, do you really think that NFTs are safe now? Or, we should have more strong rules in place.

 

Let’s find out in this blog.

Contents

1. Apply multi-factor authentication,

2. Use Cold wallets,

3. Please don’t click on suspicious links or ads,

4. Use password manager software,

5. Use VPN services

 

Imagine that you are a world-class painter who has made a lot of paintings. One day, an unknown user put hundreds of your pieces for sale on opensea.io as NFT tokens without your permission and made lots of money from NFTs

 

Aja Trier has had the same thing happen to her. Her work has been stolen and sold on the OpenSea without her permission.
 

They didn't stop there, they also impersonate people from popular platforms like a decentralized exchange, and use millions of methods to get someone's personal information that can help them to get NFTs or other important assets. 

 

this is not the only problem here, there are legal issues, smart contract issues, giveaway scams, and much more. I could tell you a hundred different ways that your NFTs could be stolen.

 

And why not they do it? Your dependency on centralized platforms has given them this right.

 

Just take a look at your assets. You have too many centralized platforms to store your data, private keys, and other private information, all of these things could lead to the theft of your NFTs.

 

Now, how can you secure your NFTs, let's focus on the features that will protect your NFTs.

 

1. Apply multi-factor authentication,

 

 

Because of multifactor authentication, you can add another layer of protection, making it more difficult for someone else to get their hands on your money or other personal things. 

 

So let's say that even if someone has broken all the barriers, it still has one more barrier to get into your money and things.

 

2. Use Cold wallets,

 

 

YES, it is still the best way to keep your money safe. Tell me how a crypto wallet can't be hacked when it isn't connected to the internet. There is no way and this is exactly what a "cold wallet" is.

 

It stores your address and private keys on something that isn't connected to the internet, and it comes with a piece of software that works in such a way so that you can see your profile without putting your private key at risk.

 

So if you want to keep your money safe for a long time, you need to buy cold wallets.

 

 

 

In the last few years, Facebook and Google have lost 100 million dollars. Crelan Bank lost 75 million dollars, FACC a manufacturer of planes lost 55 million dollars, and so on.

 

Criminals are becoming more and more tricky and successful at getting all of your personal data in just one click, so I just want to say to you,

 

DO NOT CLICK LINKS unless you are hundred percent certain that they are legit.

 

4. Use password manager software,

 

 

I understand you have to create a lot of accounts and manage a lot of passwords, so sometimes you can use a single password in multiple accounts, which can cause problems, so there is some password manager software to help you out.

 

 In simple terms, a password manager is a program that lets you make and store all of your passwords in a safe place. If you don't like making new passwords and don't like registering new accounts, this app can help you.

 

Also Read: How to choose the best CNFTs?

 

5. Use VPN services

 

 

Yes, I think you know what VPN services are, and if you're familiar with virtual private network services, all you have to do now is install the software and secure your network before proceeding with any transactions.

 

So these are some steps you can take to secure your NFTs and any digital assets in general from theft.

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