Our authentication methods

Currently we use two authentication methods in terms of Multi-Factor-Authentication (MFA):

  1. Email-verification: You are required to enter One-time-PIN (OTP), that is sent to your Email (usually lives max 15 min) in order to confirm an operation.

  2. Two-factor authentication: You are required to confirm an operation with a time-based One-time-PIN (T-OTP), generated on Google Authenticator App (lives 1 min). T-OTP is sent in case you enable 2FA in settings.

Both OTP and T-OTP is further referred as MFA Code


Operations requiring confirmation with the MFA code

We are strongly concerned about the security of accounts of our Customers, hence we add additional security layers for processing of operations like: 

  • Withdraw

  • Password change

  • Email change

  • Setting of Anti-phishing Code

  • Prime Asset purchase

  • Setting of API keys

 

When does  blocking of authentication happen?

Note: if you have enabled Two-factor Authentication - this method will be used to confirm operations above. With the disabled 2FA operations will be confirmed with the OTP code that will be sent to your Email. 

You have 5 tries to confirm the operation with correct MFA code . On the 5-th invalid try the corresponding MFA method that was used for confirmation will be blocked for 72 hours. That means that you will not be able to perform all the operations requiring entering of MFA code within 72 hours after 5th invalid try to enter verification code. 

When the MFA method was unblocked and you enter wrong MFA code 5 times again (in total - 10 invalid tries in a row) - then your account will be blocked permanently. 

Smart Valor  established itself as a highly reliable digital asset exchange and custody, so we take this measures in order to secure accounts and funds of our Customers.

 

How to unblock authentication methods?

The unblocking of Email verification and Two-factor authentication methods, as well as unblocking of Customer’s accounts is performed by our Compliance team. 

If a MFA method on your account was blocked for 72 hours, or your account was blocked due to several invalid attempts to  authenticate an operation, you need to to prove the ownership of your account by reaching out our Compliance team via support@smartvalor.com.  

Specify “Blocked MFA” as a subject of the Email and describe how did this happen. The Compliance team will reach you and ask to provide the information that can prove your ownership of the account.