New Security Features on CoinLoan

SecurityJun 18, 2020

When using crypto-related services, security is one of the most critical concerns. That’s why we’re continually working to keep your account and your funds as safe as possible. At the height of June, we have a couple of security-first updates we want to tell you about.

Freeze Your Account in Seconds to Protect It

If you believe your account has been compromised, you can now freeze it to prevent offenders from accessing your funds. To freeze your account, find a link in one of the emails we automatically sent when a specific system action occurs in your account.

Freezing prevents the account from being used, which means that no one will be able to log on, transfer assets, use CoinLoan services, etc. For unfreeze, you can always reach our support team.

Withdrawal Hold After You Change Security Settings

Withdrawal hold is now triggered after making specific security setting changes to your account. The 24 hours hold period will protect your funds in the event your account was compromised, and an attacker is attempting to steal your funds.

The triggers of a withdrawal hold are:

  • Password change
  • Password reset
  • 2FA deactivation

During a hold, withdrawals can’t be requested. After 24 hours, withdrawals will be enabled automatically.

Quick Reminder on Session Security

CoinLoan supports multiple sessions on the same account; therefore, we provide some tools to manage your sessions and security.

To see your active sessions, open Account Settings on a Sessions tab. On this page, you can see the list of actual sessions along with details of IP addresses, location, and duration of sessions. You can terminate your extra sessions in one click.

We recommend inspecting the page regularly to sign out all other active sessions. Your session terminates automatically after the change of IP address.

Keep an eye out for other bits of information in the coming weeks. Until next time, stay safe out there!

Disclaimer:

The information provided by CoinLoan (“we,” “us,” or “our”) in this text is for general informational purposes only. All investment and financial opinions expressed by CoinLoan in this text are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information in this text.

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