TL; DR
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When tens of millions of dollars belonging to well-known, tech-savvy members of the crypto community go missing, it catches the attention of a few people.
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It turned out there was one security breach from the password manager, LastPass, in March this year, which has resulted in enough information stolen for hackers to recover or change the password for many targeted crypto wallets.
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What should you do? Learn about cold walletsbuy a hardware wallet (we use the Ledger Nano – not sponsored, just facts), and move your coins to your cold wallet.
Full story
Hacks in the crypto space are nothing new.
But when tens of millions of dollars belonging to prominent, tech-savvy members of the crypto community go missing, it catches the attention of a few people.
We’ve covered a lot of scams, from fake apps to the ‘Pig Butchering’ scam, but it doesn’t seem like the victims of this latest scam have done anything so risky.
So what the heck is going on?
On-chain super sleuths have discovered that the hacker (or hackers) in question literally used the victims’ wallet passwords and seed phrases to send crypto to their own wallets.
It turned out there was one security breach from the password manager, LastPass, in March this year, which has resulted in enough information stolen for hackers to recover or change the password for many targeted crypto wallets.
What should you do?
If you have a crypto wallet that has its password stored on LastPass, the first step is to change your wallet password right away!
As a second step, learn more about cold walletsbuy a hardware wallet (we use the Ledger Nano – not sponsored, just facts), and move your coins to your cold wallet.
Hardware wallets are more secure than software wallets because they are not permanently connected to the internet, making them very difficult to hack remotely.
Of course, you should make sure you keep the hardware wallet in a safe place, but at least you won’t lose your crypto if a third party is hacked!
Crypto hygiene people – it’s not sexy, but it’s important.