When it comes to storing cryptocurrency on mobile devices, too many people rely on their phone's security to act as the only safeguard to accessing the wallet within.  Not to mention, if someone is in your phone, your 2-factor authentication is likely compromised as well.

Not just wallet apps, but even exchanges like Binance and Coinbase will verify your transactions by sending a text message... to your unlocked stolen phone.

Those of us who follow the 'never leave funds on an exchange' rule probably have a billing method saved with our exchange of choice, so the person in control of your phone could simply purchase coins, then transfer them. There would be nothing to stop them from reaching your daily buying limit.

That is, if you rely on facial recognition.

While already considered to be the least secure of all methods, it's still alarming to think that somehow it's gotten even less secure with time.

Unlocking the new Samsung Galaxy S10 with facial recognition is this easy:  with another phone play a video of the phone owner and hold it up to the front camera of the S10 (Pictured above).  That's it, you're in.

Sure, you need a video of the phone's actual owner - but I feel like I could one for the majority of people I know.

Watch how easy it is in this video from Unbox Therapy:


So what's the solution? Only use the fingerprint scanner to unlock, and disable facial recognition completely.  While Samsung deserves some criticism for this, they also deserve some credit for an extremely secure, and hard to fool fingerprint scanner.

-------
Author: Mark Pippen
London News Desk