3 Unique Ways Hackers Can Steal Your Crypto: Bitrace Report
In order to monitor and prevent accidental loss of tokens from crypto wallets, investors should be aware of the various methods that bad actors use to successfully steal cryptocurrencies.
Blockchain researcher Bittress has identified three effective ways for hackers to access crypto investors' wallets: through search engines, such as Google and Bing, pasteboard hacking, and liquid mining and coin theft.
Crypto investors who claim “my coins disappeared suddenly” have recently been found downloading crypto apps from unverified sources. Attackers use search engine optimization (SEO) techniques to boost Internet searches, forcing unwitting users to download fake apps through the backdoor and sign up.
Clipboard hacking involves the process of automatically extracting or altering previously copied text data from clipboards. The technique often simplifies users' genealogies, which can later be used to access wallets and withdraw funds. Bittress described how a fake Telegram app was used to replace the destination wallet address recorded on the clipboard, allowing users to send their signals to the hacker.
Finally, the classic “high yield and low risk” liquidity scams are also among the top three most popular scams that have led to the disappearance of tokens. Bitrace recommends three methods crypto users can use from tracking transaction fees to tracking stolen funds. Investigators often find the hacker's address by tracing the source of the transaction fees paid to move the stolen funds.
Other ways investors can improve their chances of finding stolen funds include using blockchain browsers and professional tools. To learn more about how to track stolen crypto, read Cointelegraph's research article on how blockchain analysis can help recover funds.
RELATED: Crypto thief steals $4.4 million in day as payouts rise in LastPass breach
In addition to targeting investors, attackers often steal money from crypto firms. As part of the latest exploit update, Maestrobots – a group of cryptocurrency bots on the Telegram messenger app – paid out 610 Ether (ETH) of its own earnings to cover the total user losses, which is more than $1 million. .
Wrapping up the exploit saga
➡️ First things
Maestro: Router 2 was used by ETH Mainnet 10 hours ago, and some tokens (not ETH) were deleted. Within 30 minutes of the attack, our team detected the attack and completely neutralized it. If you are…
— Maestro (@MaestroBots) October 25, 2023
Blockchain security firm CertiK has confirmed to Cointelegraph that it has obtained transactions showing a 334 ETH compensation paid to users from Maestro. “Most of the tokens went up on the assumption that we will buy the tokens on the market. Most of these tokens are still alive and kicking,” a Maestrobots spokesperson told Cointelegraph.
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