As the UST mc is growing rapidly and Terra is becoming more populair. I would like to see some kind of 2fa build in terra station for extra safety. This could even be a ‘one time 2fa’ for a first time transfer to a ‘unknown’ wallet adress, this way it wont be necessary every time you transfer to a ‘known’ adress.
Since more fake url’s are popping up, copying all kinds of protocols and the risk of losing funds when connecting your wallet to one of those url’s is becoming larger. I would like to see some extra safety for the terra community built in terra station.
Since im not a dev, i can only explain what i would like to see in terra station, i have no knowledge at all about how to do it or if it is possible. If you do, feel free to add your comments!
I believe there are a few options;
1; Have a validation code sent to your e-mail which you need to add to your transaction before you can send funds to a ‘unknown’ wallet adres.
2; Have a validation code sent to your phone which you need to add to your transaction before you can send funds to a ‘unknown’ wallet adres.
3; Create a Terra authenticator app extension like Google but something like this;
I would like to hear your thoughts on this.
I had this same question about a year ago
Concise explanation: Terra Station is non-custodial and there’s no way to encrypt private keys with a one time password
Seems like a bug, but is actually a feature
Terra Station doesn’t store your private keys at all, so it cannot prevent you from transacting depending on if you have the 2fa code or not
In order for Terra station to do this, they would have to have custody over user’s private keys. This would also mean that they could prevent users from transacting
Enabling 2fa would also enable censorship of what users do with their funds
I had the same idea, i think it would feel much safer to have this.
I second (third? fourth?..) this. It’s unbelievable that Terra doesn’t already have this kind of security system in place. Every day we hear of people losing their life savings to increasingly sophisticated web-attacks on web wallets. Yes, Terra integrates with Ledger Nano, but many have pointed out that Nano’s form factor isn’t good for those with eye sight issues (tiny screen) or digital limitations (must navigate entire menu repeatedly pressing two tiny buttons). Trezor wallet has no plans to integrate Terra’s ecosystem. In the mean time, additional authentication beyond just a password would set many users’ minds at ease. I feel anxious every time I interact with Terra Station. And as my savings in Terra increase, I’ve been thinking of NOT adding additional funds due to just this security concern.