Gemini’s Mobile App Now Supports Hardware Security Key For Android, iOS
- With the introduction of the new feature, Gemini wishes to make sure that its users are protected against hacks and SIM swaps.
- Users of the exchange will now be able to use their mobile devices to sign in.
Cameron and Tyler Winklevoss arrive at the White House Correspondents Association Dinner on May 3, 2014 in Washington, DC. Rena Schild/Shutterstock
The Winklevoss twins’ Gemini exchange has bolstered its security capabilities with the addition of hardware key compatibility on iOS and Android mobile devices, the firm said in a blog post on 14 July.
According to the announcement, Gemini has become the first cryptocurrency exchange to introduce support for hardware security keys for its mobile application, which will allow its users to authenticate their accounts through a cryptographic proof of a user’s identity. The new feature will ensure that only the holder of the physical key has access to an associated account, even if the password to that account has been compromised by an attacker, or if a SIM-swap attack has been executed successfully.
Gemini’s Chief Security Officer, Dave Damato, said in the blog post:
“Gemini customers can now use USB and near-field communication (NFC) security keys to securely sign into the Gemini Mobile App. Hardware security keys provide the strongest level of protection when authenticating to your Gemini account by delivering hardware-backed, cryptographic proof of your identity.”
Gemini’s new security capabilities come as part of a new partnership with Yubico, which provides a secure, cross-platform solution in the face of Yubikey. The extra feature will be an addition to Gemini’s current security layers, which include TouchID and Windows Hello. In order for users to take full advantage of the new feature, they will have to register at least two hardware keys, one of which should be supported by their mobile devices.
Ordinary two-factor authenticators, when enabled, require a single-use code, usually provided via a text message or a third-party app, in addition to the simple website login password. The new Gemini feature is also a form of two-factor authentication, but one where a physical device is required to be pluged-in, such as Yubico’s Yubikey, in order to access an account.
Although the Web Authentication (WebAuthn) internet standard was introduced to Gemini’s mobile app on Tuesday, its main browser-based platform had been supporting it since May 2019.
- An investigation from the New York Attorney General’s office has allegedly found that Gemini was aware of Genesis’ weak financial position, but still lied to investors.
- The lawsuit is looking to ban DCG, Genesis, and Gemini from the New York financial industry, seek restitutions for investments, and the return of “ill-gotten gains”.
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- Cameron Winklevoss, co-founder of crypto exchange Gemini, proposed a plan that would see Digital Currency Group pay close to $1.5 billion over the next five years.
- The Winklevoss twin said that if the “final offer” is not accepted by the end of the week, Gemini would file a lawsuit against DCG and CEO Barry Silbert.
- Called Coinbase International Exchange (CIE), the new platform will allow institutional users outside of the U.S. to bet on the price of crypto via perpetual futures.
- The platform will not be available to retail customers “at this time”, and will initially provide trading of only BTC and ETH perpetual futures, settled in the USDC stablecoin.