|

This is how easy you can get hacked and get your Bitcoin stolen

  • An attacker targeted Paradigm’s head of security and tried to steal his Bitcoin in three clicks. 
  • Sam Sun shared details of the compelling hook and how easy it is for individuals to fall prey to Bitcoin hacks. 
  • Attackers can steal wallet data directly from browser extensions or Discord session tokens when users click on malicious links. 

Former white hat hacker and the head of security at Paradigm, a VC firm, was targeted by a hacker recently. Sam Sun told his 86,300 Twitter followers how three clicks and two malicious file downloads could give the hacker access to his Bitcoin

Hackers target wallet data of users, send malicious links

Sam Sun, a former white hat hacker and the head of security at Paradigm, was recently hit by an attacker in an attempt to steal his wallet data and eventually his Bitcoins. Sun performed malware analysis and broke down the series of events that could have led to a successful attack on his wallet data. 

Sun shared the analysis on his Twitter account, revealing how simple it is to be hacked and how attackers are stealing info like wallet data and Discord session tokens to gain access to users’ cryptocurrencies. In the case of Sun, a malicious actor sent a message with a link to arouse his curiosity. 

The message read, 

Hello

I am sorry to disappoint you. 

You are being sued. 

You can read a copy of the lawsuit here (Malicious link)

No copyright has been claimed. 

You can also write a statement in response, good evening John.

Sun revealed that messages accompanied by malicious links are compelling hooks and when placed under pressure, even trained security professionals might act irrationally and click on the link. 

Clicking the link downloads a file to the target’s computer. This is the first step, opening the downloaded file takes the target another step closer to getting hacked. Once the file is opened, the attacker has access to wallet data, browser extensions or Discord session tokens of the target. This gives the malicious actor direct access to your cryptocurrency. 

“Hybrid Analysis”, an automated malware analysis service provider, helped Sun identify that the two downloaded files on his device were malicious. Running the files through a malware analysis detector helped him determine that the attacker attempted to steal his cryptocurrency. Therefore, Sun warns his followers against running downloaded programs, files without running them through malware analysis detector. 

Results after running both downloads through Hybrid Analysis

Results after running both downloads through Hybrid Analysis

Attacks are therefore not limited to the DeFi ecosystem, and cryptocurrency holders are simply three clicks away from losing access to their holdings. 

Why KuCoin’s insolvency could have serious implications on Bitcoin price

Analysts at FXStreet evaluated the impact that Mt.Gox’s insolvency had on Bitcoin and revealed that they expect a similar situation in case of KuCoin. For more information and the impact on Bitcoin price, check out this video:

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Dogecoin Price Forecast: DOGE breaks key support amid declining investor confidence

Dogecoin (DOGE) trades in the red on Thursday, following a 4% decline on the previous day. The DOGE supply in profit declines as large wallet investors trim their portfolios. Derivatives data shows a surge in bearish positions amid declining retail interest.

Cardano Price Forecast: ADA dips below $0.37, hitting two-month low as bearish momentum builds

Cardano (ADA) price trades in the red, slipping below $0.37 on Thursday after correcting more than 7% so far this week. The ongoing pullback could deepen further as ADA’s social dominance declines and dormant wallet activity rises, suggesting bearish sentiment among traders.

Top Crypto Losers: Pump.fun, SPX6900, Bittensor slide further with double-digit losses

Pump.fun (PUMP), SPX6900 (SPX), and Bittensor (TAO) are leading the losses in the cryptocurrency market over the last 24 hours amid total liquidations of over $500 million. The retail segment alleges institutional manipulation amid an early-morning Bitcoin sell-off routine in the US market.

Bitcoin, Ethereum whipsaw sparks heavy liquidations amid accusations of market manipulation

The crypto market whipsawed on Wednesday as top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), quickly reversed gains from the early American session.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.