Sharing a $20K Crypto Loss Due to Storing Seed Phrases in 1Password
Description
Hello, I'm sharing this experience to raise awareness about cryptocurrency security. Recently, someone I know had two of their cryptocurrency wallets hacked, and within 5 minutes, they lost about $20,000 worth of assets. The main reason for this breach seems to be storing their seed phrases in 1Password, which, although a trusted password manager, turned out to be a significant security risk for their cryptocurrency. #How Did the Hack Happen? The seed phrases for their cryptocurrency wallets were stored in 1Password. Unfortunately, the exact way the hacker gained access is unclear. However, several possible scenarios are: 1. Phishing Attack: -> The hacker could have used a phishing attack to steal their 1Password login credentials and then accessed the seed phrases. 2. Malware Infection: -> They recently used uBlock Origin to filter certain websites, and itโs possible a malicious script or software infiltrated their device during this process, allowing the hacker to extract data from 1Password. 3. Cracked Software: -> They had used cracked software like m0nkrus in the past, which, although trusted by some in the community, may have introduced vulnerabilities, allowing the hacker to access their system and ultimately their 1Password data. #Summary of Stolen Assets 2.92 ETH, 1,456 AGRS, 124,583 SAITO, 55.44 XCAD, and 6 BNB were stolen and transferred to a FixedFloat wallet. # Lessons Learned and Security Advice 1. Do not store seed phrases in password managers like 1Password. 2. Use hardware wallets (cold storage) to keep your seed phrases offline and secure. 3. Create a dedicated environment for storing and accessing your wallets, separate from your daily-use devices. 4. Regularly review and enhance your security practices, and always be cautious of phishing attempts and malicious software. I hope this story helps prevent others from falling victim to similar attacks. Cryptocurrency security is not something to take lightly. I encourage the cryptocurrency security community to stay vigilant and share their knowledge to help protect others.
Scam Channel
OTHER
Other
1Password
Join the Support! ๐
200 CBP(โ$0)Donated So Far
5
0
