Emergency Procedures vs Two-Factor Authentication (2FA)

Emergency procedures are pre-planned response protocols for cryptocurrency security incidents—compromised accounts, lost devices, suspected theft, or exchange failures—designed to minimize losses through rapid, systematic action when immediate decisions are required.

Security method requiring two different forms of verification to access an account—typically something you know (password) and something you have (phone, authenticator app, or hardware key)—providing critical protection against unauthorized access even if passwords are compromised. Also known as: 2FA.