As a researcher with years of experience in the cryptocurrency field, I have seen my fair share of scams and hacking incidents. The latest case involving “Anchor Drops” is yet another grim reminder of the importance of vigilance in this dynamic and often unpredictable world of digital assets.
In simpler terms, users of hardware wallets for cryptocurrencies have been warned once more to remain cautious during the rising market, as one user has recently experienced significant financial losses that are believed to be due to a phishing scam.
On December 13th, a person known as “Anchor Drops” in the crypto world reported on a social media platform that they had lost 10 Bitcoins (BTC) from their Ledger Nano S digital wallet.
Apart from the reported loss of approximately $1 million in Bitcoin, Anchor Drops mentioned another loss – about $1.5 million value of non-interchangeable digital assets, or NFTs, which were also kept in the same digital wallet.
It appears that the recent security issue with the cryptocurrency community is connected to an old phishing attack, which initially happened several years ago but has only just become apparent more recently.
Ledger points to malicious transactions from years ago
According to Ledger, it appears that Anchor Drops suffered from phishing scams and harmful transactions quite some time back.
The wallet producer mentioned a post from community user KDean, where they connected the missing funds to a fraudulent Ethereum transaction that originated from an account hacked by Anchor Drops.
Tagged “Fake_Phishing5443,” the alleged phishing transaction occurred on Feb. 22, 2022.
Multiple blockchain security systems have pointed towards a suspicious fish sale, conducted by KDean, as the possible cause of the financial losses.
According to Hakan Unal, a senior scientist at Cyvers, data from the blockchain suggests that they executed a phishing transaction about three years back, without realizing it, which inadvertently gave permission to a harmful entity.
After lying dormant for several years, the hacker ultimately emptied the digital wallet,” Unal emphasized, noting that this event is unrelated to Ledger as a company. Furthermore, he mentioned:
“We strongly encourage users to follow best practices and regularly review token approvals to ensure their assets remain secure.”
Questions surround Bitcoin loss
As a researcher delving into the matter of NFT losses connected with Ethereum transactions, I’m left pondering over the mysterious expansion of this malicious activity that seemingly impacted the Bitcoin investments as well. The intricacies of this situation are yet to be fully understood.
Tony Ke, the head of security at Fuzzland, clarified the details about the NFT on CryptoMoon. However, he remains puzzled about how Bitcoin was allegedly stolen.
Cyvers and Ledger proposed the possibility that a harmful transaction initiated on Ethereum might potentially propagate to other blockchains linked within a digital wallet.
As a researcher, I’d express it this way: “Should a phishing attack manage to obtain my recovery phrase, an attacker would potentially seize control of my digital wallet spanning all compatible blockchains, such as Bitcoin.
In light of the user falling victim to phishing involving their ETH wallet, it’s reasonable to suspect that similar user error might have occurred with regards to their BTC wallet as well,” a representative from Ledger explained to CryptoMoon.
After the recent event, Ledger encourages users to stay cautious when confirming any transactions on the blockchain.
When it comes to securing your assets, utilizing hardware wallets is key, but it’s also essential to fully grasp each action you take with the wallet and make well-informed choices,” emphasized Fuzzland’s Ke.
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2024-12-13 16:02