|Mine Information Let me share a great article published this week about the Karatgold ecosystem with official documents about ownership of the Karatbars Mine - https://globalcoinreport.com/karatgold-proves-its-business-model-by-providing-official-documents/
Karatbit security update over the weekend.
1. What happened?
The company decided to create a separate 2FA for Karatbit. Now we will have 1 x 2FA for Karatbars/Karatgold and a separate one for Karatbit.
Head Office have made a step by step video tutorial on how to do it HERE
2. What is 2FA?
Its a free Google Authenticator app that you can download on your phone which means only you can log into your account because you have to enter a code which appears on your phone. It takes literally two minutes to set up and stops 99.9% of any hacking attempts.
Android link - HERE
Apple Link - HERE
3. Why has this been made compulsory?
Simply because EVERY DAY affiliates are having their KBC stolen.
This was the final straw that finally make them act to make it compulsory.... In the past seven days 3 "leaders" in the company have had over 3 Million KBC stolen simply because they have not set up 2FA? Making it compulsory solves the problem.
4. So what?... If some people can't look after their accounts?
It matters a lot because the hackers simply sell the coins at any price driving down the price of KBC. If the price gets driven down the market/ordinary people think there is a sell off happening, get scared and sell too. It creates FUD. Fear Uncertainty and Doubt.
The only people selling are the hackers at the moment so it has to be stopped.
5. What if I have trouble setting up 2fa or lose my phone?
You should keep a written paper copy of your secret key..But we know people don't! That's ok.. Karatbit support will help you. If you provide a picture taken today with your ID beside your face they know it is you then they can deactivate 2fa so you can reset it.
Karatbars have had to take this action because people are not putting on their seatbelts, not taking enough care with their assets and it is affecting the coin value for everyone.
Going forward, this compulsory 2FA will solve the problem until Karatnet goes live.
Overall a very positive step which will stop the hacking and stealing.
6. "What if I don't have a smart phone?"
Buy one for €10 on Ebay or your local shop . 🙂 You don't even need to buy a sim card. You can use the wifi in your home. Even better and even smarter buy a K1 or earn a free one in the current incentive.
Not having a phone is no excuse if you want to protect your coins and accounts. The entire community cannot suffer because of the inaction of a few so i can only see this as great news for everyone.
Just be aware that the hackers are sending spam emails with viruses in them which simply sit quietly on your PC and wait for you to log in recording your information. They can record the keys you tap on your keyboard.
You won't know anything has happened until you log in and see an empty Karatbit account.
2FA prevents this because only the person holding the phone at that moment can log in.
I am guessing these spammers are using robot scraping software to harvest emails from the internet. The theory about someone having access to the Karatbars database doesn't stack up because I am getting them to emails that have never been associated with any Karatbars account. (I own 52 domains with different emails)
Its positive that they want to steal them if you think about it.
They wouldn't be so desperate to steal KBC if they were not valuable! They simply realise that most Karatbars affiliates are not very tech savvy and are easy prey.
This is exactly why the K1 with all its security, end to end encryption and voice over blockchain calling is such a revolution. It will not only help our community stay safe but all crypto users!
We are not the only Crypto company being targeted... Many many are! We can see that when we follow the hackers trail on Etherscan, loads of different coins are going through these accounts and being dumped.
Please lets just all get 2fa set up and put an end to it.
Right now Karatbars has the same task as Henry Ford selling cars to Cowboys!
I don't mean that in a negative way about our affiliates. Just that this is a big jump in technology very fast.
I knew nothing about this stuff two years ago too but I am on Youtube every day watching videos about cryptocurrency, blockchain etc so I can teach my team.
Don't forget that it will only be us who will have to put up with all these changes and learning as pioneers.
When the K1 Impulse phone arrives it will have everything pre loaded and the security will be set up.The same will apply to Karatnet. Once the whole ecosystem is up and running new affiliates and customers will have an easy process and won't know anything about what we went through to get to this stage!
I am looking forward to that day ! What I won't do is wait for easy mass adoption because I will miss out on bringing in the big players who always come in first.
Accept That Reality Is Not Plain Sailing And Keep Moving!