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Crypto Hacks Continue to Rise in 2023 | $15k Worth Funds Stolen from a

  • The event took place on November 1, 2022, but the victim reported it to authorities last week.

  • On November 1, someone allegedly hacked the victim's crypto wallet and transferred the funds to a malicious account.

  • The Srinagar police noted that the victim did not provide a justification for filing the complaint after two months.

Crypto Hacks Continu

The new year represents a fresh start for malicious 

actors in the crypto industry. As a result, recent reports reveal that a Maharashtrian man’s crypto wallet has been hacked by a malicious actor.

According to a PTI report, an anonymous person allegedly hacked a 37-year-old man's crypto wallet. Reports disclose that the funds stolen were worth around ₹12 lakhs ($15,097).

The reports further added that the hack initially took place on November 01, 2022. However, the victim registered a complaint regarding the stolen funds last week. As per the complaint, the Srinagar police registered the case against the malicious actor under IPC Section 420 & provisions of the IT Act. 

PTI report revealed that the funds were stolen when the victim came to Thane for some work on November 01. At that time, a malicious actor hacked the victim’s crypto wallet and transferred the stolen funds into a company’s bank account. 

This was not the first cyberattack that took place in the Thane region. Last week, a Maharashtrian guy was also defrauded for ₹ 6.9 lakhs by a cyber scammer over a job scam.

Meanwhile, the Srinagar police is currently looking into the incident, and the police agency had not released any additional facts about the hack as of this writing.

3 Tips to Prevent Crypto Hacks

In the past few months, concerns over investing in cryptocurrencies have increased significantly due to cyberattacks. As a result, the adoption rate of digital assets is plummeting sharply.

However, there are certain ways that can assist an individual in securing their crypto assets and wallets. Those tips are;

  • The first step to protect your digital assets is to hold them in a cold, or hardware, wallet. This wallet contains a private key that can be used to gain access to your funds. You can create your own private key, but if you lose it, you may lose access to your investment.

  • The second step is to change the passwords of crypto wallets and platforms on a regular basis. Experts suggest that one should update their credentials every six months.

  • The third and most important point to remember is to avoid using public WiFi to access your online cryptocurrency exchange or wallets. Additionally, utilize a VPN to hide your IP address and location whenever possible.

The tips mentioned above are some of the most trusted measures in the crypto community in safeguarding crypto holdings. Meanwhile, to stay up to date regarding the latest crypto updates register yourself at CoinGabbar. 

What are your thoughts on the increasing malicious activity in the cryptocurrency industry? Please share your valuable thoughts in the comment section below.

Also read: NFT Influencer Suffers an OBS Malware Attack

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