It is also central to the 2FA SMS process. SS7 is a telecommunication protocol that’s used to handle communication between different telephone networks. More advanced 2FA interception tricks involve exploiting Signaling System 7 (SS7) features. Transfer of ownership allows hackers to intercept 2FA messages connected to a user’s crypto accounts. SIM-swap ploys involve the impersonation of a target and tricking telecom employees into transferring control of a SIM card number from the owner.
#BLOCKCHAIN WALLET SECURITY VERIFICATION#
In some cases, malicious actors can intercept SMS verification messages via SIM swapping. It is, however, susceptible to endpoint exploits and social engineering attacks. Two-factor authentication (2FA) via SMS is one of the most commonly-used verification technologies today. Moreover, they never ship replacements unless you explicitly ask for one. It's important to note that hardware wallet providers never ask customers for their recovery keys. Accessing the wallet allows them to siphon funds. Once the keys are entered, they are recorded and transmitted to the hackers, who are then able to unlock the wallet on the blockchain. The shipped replacement usually bears instructions asking the user to plug in the device to a computer and input their crypto wallet recovery key. The bundle usually includes a note warning the target that their current device is vulnerable and needs to be replaced with the delivered wallet. In the first part of the ruse, the target receives a package with the modified hardware wallet.
Typically, hackers target individuals who already have a hardware wallet and then trick them into using a modified replacement designed to steal crypto keys. Fake Hardware Walletsįake hardware wallets are another form of hacking that you need to be aware of. Once they get this information, they then use it to access the victim’s real account on the legitimate crypto website. Upon inputting this information, the data is transferred to the hackers. For example: instead of .īecause the websites are in many cases indistinguishable, targets are easily hoodwinked into logging onto the cloned websites and using their crypto account credentials to log in. Misleading domain names are also deliberately chosen for the schemes. Attackers utilize cloned websites that look strikingly similar to legitimate cryptocurrency platforms to defraud targets. Phishing attacks are a common information-stealing technique used by hackers. Below, you'll find a selection of tactics they use.
#BLOCKCHAIN WALLET SECURITY HOW TO#
Before we look at how to protect yourself from cryptocurrency wallet hacking, it's a good idea to look at how hackers get into these.