Recently we have read so much about crypto exchange hacks and it is becoming a very bad impression to the crypto community.
1. In your own understanding, what steps would you suggest to the crypto exchanges to enhance security to avoid hack.
2. What advice will you give to your fellow crypto community to protect themselves from being a victim of crypto hack.
I will suggest the exchange sites to consider this step.
Use two-factor authentication:
As exchange companies get hacked, the likelihood that password leaked increases. Once hackers get passwords, they try to figure out which personal accounts they can access with the data they stole.
Two-factor authentication - which requires users to not only enter a password but to also confirm entry with another item like a code texted to a phone - is a good way to stop attackers who have stolen passwords. Exchange companies should make it a standard for logging into their sites.
For crypto enthusiasts, be vigilant, do not used a public computer, and be suspicious of emails, in addition, use very strong passwords in your computer systems etc.