Binance CEO Urges Hardware 2FA Use for All Crypto Platforms After Vitalik Buterin’s X Account Hack

Binance CEO Changpeng Zhao (CZ) has urged everyone to use hardware 2FA for all crypto platforms after a social media account belonging to Ethereum co-founder Vitalik Buterin was hacked and used to post a crypto scam link. “In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly),” CZ shared.

Binance’s CEO on Vitalik Buterin’s X Account Hack, Crypto Community Reacts

Binance CEO Changpeng Zhao (CZ) has reminded everyone to use hardware 2FA on all crypto platforms after a social media account belonging to Ethereum co-founder Vitalik Buterin was hacked and used to post a scam crypto link that stole funds from people clicking on it.

“Reminder to use hardware 2FA (Yubikey) for all crypto platforms,” the Binance executive wrote on social media platform X on Sunday.

Reminder to use hardware 2FA (Yubikey) for all crypto platforms. https://t.co/bwzlQeGraL

— CZ Binance (@cz_binance) September 10, 2023

CZ detailed in another X post: “Vitalik’s Twitter account got hacked. Use common sense when reading content on social media, even from large KOLs. Twitter’s account security is not designed as financial platforms. It needs quite a bit more features: 2FA, login ID should be different from handle or email, etc.” The Binance boss further shared:

In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly). This was before the ‘Elon era.’

“Yubikey is an additional security feature that users can enable to protect their accounts. It is primarily in the form of a USB, that generates a one-time password (OTP) for secure account access and transaction approvals, it can significantly reduce the risk of account being hacked or compromised,” the X account for Binance Support explained.

Responding to inquiries on X regarding the adequacy of relying on Google Authenticator, Binance clarified: “It’s advisable to use multiple layers of security if possible. So yes, a combo of Authenticator and Yubikey would be great!”

Many people on X suspected that Buterin was a victim of a SIM swap hack. Zengo Wallet CEO Ouriel Ohayon wrote: “Vitalik was likely SIM swapped vs using SMS 2FA on Twitter (would be terribly surprised if not). Meaning other accounts of his were compromised too (possibly his Coinbase).” On-chain analyst Yazan cautioned: “No one is immune to SIM swap hacks. Not even Vitalik Buterin. Stop using SMS Verification and start using a 2FA app instead. You’ll be doing your audience a favor.”

Some people found it difficult to believe that the Ethereum co-founder was using SMS 2FA. Adam Cochran posted: “Should grill Twitter on this cause no way Vitalik is using SMS 2FA and getting sim swapped.” X user Crypto King opined: “How did Vitalik not have 2FA + 100 other security measures in place!? How are people with $250,000 assets on their main device still clicking links?! You have millionaires and billionaires that are borderline handicapped in this space!!”

What are your thoughts on the breach of Vitalik Buterin’s X account, and do you share the same viewpoint as Binance CEO CZ? Let us know in the comments section below.