The institutions prone to be targeted by hackers wanted to protect their clients, so they started fighting back by adopting SMS as a part of two-step verification.Īdding another layer of security was undoubtedly a step forward but was not enough as hackers quickly adapted to the new trends. Password protection alone has never been a good enough guard for accounts that hold sensitive information or any easily transferable value, i.e., online banking, cryptocurrency exchanges, and other online payment processors.
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