Crypto enthusiasts have reported their digital assets suddenly disappearing, often linked to downloading crypto apps from unofficial sources. To protect your crypto holdings, it’s important to be aware of the various tactics hackers use to compromise your funds.
Bitrace, a blockchain investigator, has identified three prevalent methods used by bad actors to access investors’ crypto wallets. These include search engine manipulation, pasteboard hijacking and scams related to liquidity mining and coin theft.
Search Engine Manipulation
Hackers use search engine optimization (SEO) techniques to manipulate search engine rankings, trick users into downloading and registering fake apps. These fake apps often contain backdoors, which provide attackers with unauthorized access to users’ wallets.
Pasteboard Hijacking
This method involves automatically intercepting or replacing data copied to the clipboard. It is commonly used to obtain users’ seed phrases, which can later be used to gain access to their wallets and remove their assets. For example, a fake Telegram app can replace the wallet address in a user’s clipboard, allowing them to send their tokens to the hacker.
High-Yield, Low-Risk Liquidity Scams
Deceptive schemes promising attractive returns with low risk have become one of the top reasons for crypto asset disappearances. Bitrace recommends three techniques for tracking stolen funds. The first involves transaction fees. By following the source of the transaction fees used to transfer the stolen assets, investigators can often determine the hacker’s address.
Understanding these strategies will help you protect your crypto assets and ensure your investment stays safe. Be vigilant and take necessary precautions to protect your digital assets.
