Stay Proactive In Cybersecurity With ‘NGY Lock!’

Safeguarding your digital assets has become an utmost priority in an increasingly digital world. In Nagaya, we understand that, and so we always work towards providing greater assurance and peace of mind to our HODLers in storing their NGY tokens in Nagaya Staking Wallet.

Introducing NGY LOCK: A robust solution designed to enhance security.

Introducing ‘NGY Lock!’, a security feature in Nagaya Staking Wallet that will be rolled out to all NGY HODLers from 1 May 2025.

‘NGY Lock!’ acts as a shield to protect your NGY (BEP20) tokens from unauthorised outgoing transfers. Once activated, the NGY (BEP20) balance in your Nagaya Staking Wallet will be locked for the next 30 days.

During this period, any outgoing transfer of NGY (BEP20) tokens cannot be processed and only deposit of NGY (BEP20) tokens is possible.

As a fundamental objective in enhancing security, ‘NGY Lock!’ cannot be deactivated anytime before the 30-day period is up. Hence, let’s begin with ‘NGY Lock!’ to enhance your defences and protect your NGY (BEP20) tokens from cyber threats. Have some questions about ‘NGY Lock!’? Look for the answer in the following list of Frequently Asked Questions.

What is this new feature intended for?

‘NGY Lock!’ acts as a protective shield for our HODLers to safeguard their NGY tokens against cybercriminals.

After I activate this feature, what will happen?

The system will implement a virtual lock on any outgoing transfer of NGY tokens from your Nagaya Staking Wallet for a period of 30 days. During this time, only incoming deposits of NGY tokens to your Nagaya Staking Wallet can be processed.

If I click/tap on ‘NGY Lock!’ within the 30-day period, what will happen?

During the lock-up period, any subsequent activation of ‘NGY Lock!’ will trigger the system to recalculate the 30-day period from the date of the latest activation.

For example, ‘NGY Lock!’ was first activated on 1 May 2025, the lockup period will end on 31 May 2025. If there is another activation made on 6 May 2025, the lockup period will be calculated from 6 May 2025, and so marking the end of the 30-day period on 5 June 2025.

I have accidentally activated this security feature. What should I do?

Once ‘NGY Lock!’ is activated, we are unable to reverse the action. ‘NGY Lock!’ is designed with the intention to enhance security, and no one can alter/intervene in the locking action.

Besides ‘NGY Lock!’, how else can I ensure that my NGY tokens are safe?

With the rapidly advancing techniques undertaken by the cybercriminals, there is no 100% fool-proof way. However, you can do your part to ensure the integrity and security of your digital assets are set to the maximum.

Below are some practices that you can adopt to keep your NGY tokens and other digital assets safe.

• Use a password that is strong and unique.

• Enable the ‘Two-Factor Security Authentication (2FA)’ option within your Nagaya Staking Wallet to strengthen the security. This method will require you to download the third-party mobile application to proceed.

• Always use a secure network, try your best to avoid using public wifi, and keep your anti-virus software updated.

• Be aware of phishing scams and always verify the legitimacy of the source before taking any action. 

How can I activate ‘NGY Lock!’ for my NGY (Mainnet) coins?

Currently, the outgoing transfer of NGY (Mainnet) coins is inaccessible. Therefore, ‘NGY Lock!’ will only be available for NGY (BEP20) tokens