4 Common Cybersecurity Risks To Your Crypto Wallet
Crypto wallets are vulnerable to hacking.
In 2022, cybercriminals stole 3.8 billion worth of crypto. For this year, it’s still not clear how much crypto has been stolen altogether, but it’s estimated that 1.89 billion has been taken from heists alone.
What are some of the common cybersecurity threats and vulnerabilities that get your crypto straight into the hacker’s wallets?
And what security measures can you take to protect your crypto assets?
Scammers are phishing for crypto wallet information via emails, phishing sites, or messages. They impersonate someone a victim trusts to get the keys to their wallet or login information.
To steal crypto assets, those are usually wallet providers or cryptocurrency exchanges.
Scammers will not always urge you to send them your personal information or passwords. Bad actors who are more technically skilled might use phishing as the first step to get access to your wallet. And follow it up with more sophisticated hacking.
In the series of cyber attacks that security researchers uncovered in May 2023, hackers urged their victims to approve malicious transactions. Once the victim does, the criminals exploit this access to steal the funds from the wallet.
Victims would make the transfer after landing on a phishing site that resembles a trusted crypto service.
In cybersecurity, this type of phishing is called ice phishing. It’s a reminder that not all phishing attempts will be obvious scams — which makes phishing challenging to eradicate altogether.
How can you protect your crypto from phishing?
Tips to protect yourself from crypto phishing schemes:
Malicious software (or malware) can get into your device after you install an infected app, use an untrusted browser extension, or install it after
