It seems like Wallstreetbets just got hit pretty hard with a super sophisticated phishing attack. They lost over 2.2 million dollars worth of meme coins on Solana. Yeah, that’s right, 2.2 freaking million. This incident is a glaring reminder that we really need to be cautious and have some solid security measures in place. Let’s dive into what happened, the major breaches happening lately, and some tips to keep our crypto accounts safe.
The Phishing Attack on Wallstreetbets
Recently, Wallstreetbets had a real nasty phishing attack come their way. All of this happened on X, which is not exactly known for its stellar security. Blockchain investigator ZachXBT spilled the beans that over $2.2 million worth of meme coins on Solana were taken. The attack was sophisticated, and it targeted the Wallstreetbets community.
The attackers managed to nab multiple tokens, with the biggest hits being $1.43 million in PNUT, $400,000 in ZEREBRO, and $130,000 in ALCH tokens. According to ZachXBT who broke the story, the attackers exploited a bug in X’s mobile platform. They were able to add passkeys to compromised accounts. This bug made it so the original account holders had no idea they were compromised, and the X support team didn’t seem to give two cents about it. So, even if you think you’ve recovered your account, the attackers might still have access.
Wallstreetbets Regains Control
As it happened, Wallstreetbets managed to get their account back. The original account holder said they were fighting off unauthorized access for about a month. They’re now teaming up with X’s security team to try and fix the ongoing issues.
In a message sent to the attackers, the account told them they know who they are, even with their fancy VPNs hiding their tracks. They even warned of possible legal consequences for their actions.
Wallstreetbets wasn’t the only one to be hacked over the weekend, though. Cardano’s X account also had a nasty breach, with details of a fake SEC lawsuit posted before it was taken down.
Wormhole Hack: A Lesson in DeFi Security
In another major hack, over $320 million worth of cryptocurrency was taken from Wormhole, a protocol that connects Solana and Ethereum. The attackers nabbed about 120,000 Wrapped Ether tokens. The project even begged the hacker to return the stolen funds, promising a $10 million bug bounty.
Wormhole claimed they fixed the vulnerability that allowed the hack and added ETH to ensure that wETH remains backed. Even after that, the price of SOL dropped by 14.36% in just 24 hours. This incident shows how security is super important in DeFi services. The transparency of the blockchain lets attackers see and exploit major bugs. So, yeah, security is vital in decentralized finance.
Liquid Exchange Breach: Protect Your Crypto Wallet
The Liquid exchange had over $90 million stolen from them after hackers targeted their warm wallets connected to the internet. Liquid's response included moving assets into cold wallets and suspending deposits and withdrawals.
Warm wallets are like hot wallets in that they’re online and can be taken by hackers. Exchanges usually use warm wallets as a bridge between hot wallets funded for user withdrawals and cold wallets, which are completely offline and safe from internet thieves.
Liquid previously had a hack in November 2020, where the hackers took customers’ personal info, leading to the recommendation of changing passwords and keeping an eye out for phishing attacks.
Protecting Your Crypto Trading Accounts
To keep your crypto trading accounts and wallets safe from phishing attacks and other threats, consider these practices:
Strong Security and Authentication
Make sure to enable Two-Factor Authentication (2FA) on your accounts. Also, consider using authenticator apps like Google Authenticator since they offer better protection.
Securing Your Internet and Devices
Avoid using public Wi-Fi for crypto unless you use a VPN. Secure your home network by updating your router software and using strong passwords.
Verify and Research Wallets and Exchanges
Always verify wallets and exchanges using official sources. Look closely at website URLs to avoid fake or phishing sites. Secure connections (https://) are a must, and be wary of misspellings in the domain name.
Protect Your Accounts and Personal Info
Use unique and strong passwords. Safeguard your email account with strong passwords and multi-factor authentication.
Be Cautious of Phishing Attempts
Stay vigilant. Avoid clicking on suspicious links or responding to unsolicited messages. Type the URL directly into your browser.
Store Your Crypto Securely
Withdraw from exchanges and store your crypto in a personal wallet, like a hardware wallet. Keep private keys and recovery phrases offline.
Keep Software Updated
Regularly update your software to keep your operating system, web browser, and security software secure. Don't forget to update your crypto wallet apps too.
Summary: Vigilance is Key
The breaches involving Wallstreetbets, Wormhole, and Liquid Exchange serve as a sharp reminder about the importance of security in the crypto space. By following best practices and staying informed, you can significantly enhance the security of your crypto trading accounts.
