Crypto is all about easy money, according to some investors and traders, which translates to the fact that you can either make money easily with crypto or lose it. I've been in both positions so far. I know this translation is a bit off its core, but I bet you got the gist of the joke.
Not your keys, not your funds. This is a famous one already. I believe @onealfa is the most ardent proponent of such a simple and efficient way to store your digital assets on Leofinance. However, I believe that some 70% of the crypto holders are storing their coins on exchanges or other related options.
I almost got hacked once as well while I was trying to get my Stepn account verified. It is so easy to get hacked in crypto. @belemo has a really sad story in this regard which has hopefully turned into a strong lesson.
The bug in an upgrade to the Nomad protocol allowed anyone with the know-how to nab funds, draining the bridge of roughly $190 million. Easy money, they said, right? Can't argue about that. This event occurred just about 24 hours ago.
Now we have another hack, this time affecting a Solana wallet called Phantom. I wonder why they named it that way... Anyway, the idea is that over 5,000 wallets that weren't active for the past six months or so got hacked lately. The hacker seems to have been able to steal both SOL and USDC tokens from such wallets.
According to Solana, it seems that the hacker hasn't "actually" stolen anything, a matter of fact there was an exploit which has probably occurred many months ago which allows the hacker/s now to simply send the funds out of the wallets as if the owners would do that.
“Over 5,000 Solana wallets have been drained in the past few hours,” blockchain audit firm OtterSec reported earlier in the evening. These transactions are being signed by the actual owners, suggesting some sort of private key compromise.”
"We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team of Phantom does not believe this is a Phantom-specific issue. As soon as we gather more information, we will issue an update."
These SOL and SPL transfers are signed by the users themselves, not transferred away by a third party using approvals. So while you can revoke, it's likely something has caused widespread private key compromise.
source
How fast does it take one to click I agree to whatever terms some apps are putting in front of a fresh new user? I'd say it's less than 2 seconds and I believe that the current exploit of the Phantom wallet might have been caused by such a mistake. Who knows what approvals the hacked wallets have "signed for" making it possible now for the hacker/s to get away with all these funds.
It can happen to almost everyone. That's why it is so advisable that one should store his crypto on a hardware wallet and if that doesn't sound like a good option, at least keep things simple, be careful when clicking I agree on all sorts of crap, watch out for scammers and don't give your credentials for free.
Crypto is still a wild jungle with lots of predators, but you can't get eaten if you're cautious enough. I feel for the poor losers, but I guess they've paid for their foolishness with this one. More details to come regarding the exploit.
Thanks for your attention,
Adrian
Posted Using LeoFinance Beta