Friend.Tech has introduced a two-factor authentication security feature, following recent sim-swap attacks on its users.
In an Oct. 9 post on X, Friend.Tech said that its users can further enhance their security of their accounts by using 2FA that adds a layer of protection, especially in cases where a user's mobile carrier or email service has been hacked.
With the new development, FriendTech users must enter their passwords every time they log in from a new device. This update comes after a prior security upgrade that allowed users to change their login methods on the platform.
The company urged its users to exercise caution when using the feature as its team, nor that of privy can help their users recover or reset their passwords. The team had earlier delayed the introduction of the 2FA because it wanted to address this password reset challenge.
The move comes as part of the protocol's effort to curb an increase in the recent sim-swap attacks suffered by its users. CryptoSlate previously said that around $20 million of the platform users' funds were at risk of these attacks.
The crypto community has welcomed the introduction of the 2FA, with some forecasting that this could propel the platform to new heights.
One of the most popular accounts on Friend.Tech, '0xCaptainLevi,' emphasised the importance of the 2FA. The security update could propel the value of assets locked on the social media platform to $100 million, the creator said.
Data from DeFillama shows that the TVL currently sits at $44.63 million as of press time.
Cos, the founder of SlowMist, said that Friend.Tech users should remain vigilant of their operating environment. Cos said: 'I don't believe we can do anything to improve the situation,' he said.
Defiant head of news Yyctrader revealed yesterday that they lost 22 ETH to an elaborate phishing scam. Despite the implementation of the 2FA, it was not clear if the theft had happened.