3 unique ways hackers are stealing your crypto: Bitrace Report

Posted under: Fintech
Date: 2023-11-01
3 unique ways hackers are stealing your crypto: Bitrace Report

Bitrace, a blockchain investigator, has identified three common ways in which hackers access and steal cryptocurrencies from investors' wallets. First, hackers employ search engine optimization (SEO) techniques to promote fake crypto applications through search engines, enticing users to download and sign up for apps with hidden vulnerabilities. Second, pasteboard hijacking involves automatically capturing copied text data, often seed phrases, from clipboards to gain access to wallets and drain funds. This method was exemplified by a fake Telegram app replacing copied wallet addresses. Lastly, ""high yield and low risk"" liquidity scams lure investors, resulting in lost tokens. Bitrace recommends tracking stolen funds by examining transaction fees, tracing the hacker's address through fee origins. Investors can also enhance recovery efforts by using blockchain explorers and professional tools.

Read more at: cointelegraph.com