Although Blockchain technology offers an attractive market environment with its technology and advantages, security issues that have occurred in recent years continue to pose a serious problem in this field. Recently, researcher Bitrace revealed three effective ways for hackers to gain access to crypto investors’ wallets: liquidity mining, token theft, and pasteboard hijacking.
The Three Popular Hacking Methods
It has been observed several times that crypto investors who claim that their assets have suddenly disappeared in the Web3 ecosystem have contacted crypto applications from unverified sources. Hackers use search engine optimization (SEO) techniques to rank higher in internet searches, causing Web3 users to lose their assets without realizing it.
Pasteboard hijacking is an effective hacking method that involves automatically retrieving and modifying previously copied text data from clipboards. This technique is often used to obtain seed phrases that can be used later to access wallets and seize assets.
Bitrace researcher explained how a fake Telegram application is used to change the target wallet address copied to the clipboard and cause users to send their tokens to the hacker. Finally, liquidity fraud with classic high returns and low risk advertising was revealed as one of the three most popular scams that cause assets to disappear.
How are Hackers Traced?
Bitrace suggested three methods that crypto users can use to trace stolen funds, starting with tracking transaction fees. Blockchain experts often track the source of transaction fees paid for the movement of stolen funds to trace the hackers.
Rather than targeting investors, hackers generally find stealing assets from crypto platforms more attractive. In a recent attack, Maestrobots, a group of crypto bots on the Telegram application, paid a total of 610 Ethereum to cover user losses exceeding $1 million from its own revenue.
Blockchain security firm CertiK confirmed that it detected transactions showing the compensation of 334 Ethereum paid to users by Maestro. A spokesperson for Maestrobots stated that these tokens are still being traded on the market and claimed that there is an expectation of a rise in the token due to the platform’s token acquisition strategy.
