Security Failure of Your Binance Account
•Neglecting Two-Factor Authentication (2FA)
Many users rely only on passwords, making them vulnerable to hacks. It is recommended to use an authenticator app rather than SMS for better security.
•Sharing Account Credentials
A critical rule for 2026 is never to share login details, even with friends or for "joint investing," as this violates Binance's User Agreement and leads to irreversible losses.
•Falling for Phishing Scams
In January 2026, phishing incidents caused over $300 million in losses across the crypto market. Common tactics include fake "mandatory security updates" asking for your seed phrase via email.
•Improper Seed Phrase Storage
Storing recovery phrases digitally (on phones or cloud drives) is a major risk. They should be written down and kept in a secure, offline location.