Ethical hackers share tips on how to protect your crypto.
As malicious hackers continue to threaten the security of digital assets, crypto users with similar skill sets who use their skills for good share what they can do to protect their base from cybersecurity threats.
On July 26, malicious actors used social engineering to trick crypto users into downloading fake conference software. Fraudsters have been approached by hiring employees of legitimate crypto companies who advertise fake positions to access crypto wallets and steal users' funds.
In an interview with Cointelegraph, ethical hackers Kirill Fursov and Marwan Hakem detailed their investigation into the fake conference software Meetly.gg and what users can do to prevent themselves from losing crypto.
Exposing software used by hackers
Hakem, chief operating officer of cyber security firm FearsOff, said on July 26 his team received a distress call from a C-level executive at a crypto firm. The cyber security expert said that while trying to investigate the issue, they found out how the hackers work.
Fearsov, founder and CEO of cyber security firm FearsOff, explained that they downloaded the fake software and installed it in an isolated environment to learn how it works. The security expert claims that after launching the app, it takes the user's information and sends it to malicious actors. He explained.
“After you open the app, it immediately sends all sensitive information about your computer, including all sensitive data and crypto wallets, to an external server.”
Firsov explained that hackers are looking for information related to crypto wallets and details such as passwords, access codes and keys. “People usually store passwords not only in secure environments, but also in plain text and nodes,” Fersov added.
The cyber security expert explained that hackers will use any data they get to achieve their goal of stealing a user's crypto.
During their investigation, the security officials also pointed out that they found another software used by the same fraudsters. Hackers have warned users of a website called Clussy.com that they are using to steal users' money.
In the year On August 5, security experts tracked down the fraudsters and revealed that they had rebranded their “Meetly.gg” site and planned to relaunch it under the new name “Meeten.gg.”
Related: FBI Warns About Scammers Impersonating Crypto Exchanges
How to protect your crypto
When asked how users can avoid falling prey to such scammers, Hakem offered some tips, including dividing up their devices and taking the time to get to know their partners.
According to the security expert, distributing different devices or interacting with unknown sources can help prevent compromise.
“I know 99% of people don't associate a device or two with potential employees, employers, investors or projects.”
This could help users uninstall the software if they fall into the social engineering aspect of the attack, Hakeem explained.
The FearsOff executive also highlighted that users should spend more time doing their due diligence and getting to know their peers, as many of these attackers use trusted platforms like LinkedIn to carry out their attacks.
“Nowadays, we have to take a deep breath and take two steps back when someone tries to share something to press,” Hakim added.
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