Ethical Hackers Reveal Methods to Safeguard Your Cryptocurrency

Ethical Hackers Reveal Methods to Safeguard Your Cryptocurrency

While cybercriminals pose a constant danger to digital assets’ security, individuals with similar computer skills but whose motives are benevolent explained to the holders of cryptocurrencies what they can do to protect oneself against cyber threats’ attacks.

On July 26, criminals employed a social engineering attack to make the users of cryptocurrencies install fake ‘conferencing software’ to steal their cryptocurrencies. Employers equally had fake recruitment services impersonating the human resource departments of genuine cryptocurrencies firms to offer phantom positions in their companies, so as to dupe applicants into providing their wallet details where they were then stripped of their money.

Ethical hackers Kirill Firsov and Marwan Hachem explained more about an operation they had into the Meetly fake conferencing application. gg and detailed what users can do to prevent themselves from losing their crypto.

Uncovering software used by hackers

Hachem, the COO of FearsOff — the cybersecurity company — said that on July 26, they came to the scene upon a panic button being pushed, by a C-suite executive of a crypto firm. None of the cybersecurity professionals stated that while they attempted to investigate the problem, they discovered how hackers worked.

Firsov, the founder and CEO of the cybersecurity firm known as FearsOff said that they had downloaded the fake software, and they had run it into an environment to see how it operated. According to the security professional, it pointed out that once the user installs the app, the data belonging to the user is transferred to the villains. He explained:

“Once the application starts, it simply transfers all the important information about the computer, all the sensitive data, all the crypto wallets, to an outside server.”

According to Firsov, these hackers are interested in whatever information that relates to crypto wallets and at the moment, they are searching for passwords, and any other code or key associated with wallets. “Passwords are stored in not only safe CDEs but also in plain text and nodes, Firsov added.

TO READ FULL ARTICLE: CLICK HERE

The post Ethical Hackers Reveal Methods to Safeguard Your Cryptocurrency appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.


Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.


Disclaimer Press Release Banner

Related News

DogeSlerf Token Pre-Launch Promises to Bring Meme Culture and Community Spirit to the Blockchain World
Grand News Network
March 31, 2024

DogeSlerf Token Pre-Launch Promises to Bring Meme Culture an...

Inspired by the Viral Success of Slerf, DogeSlerf Token is Set to Launch with a Unique Blend of Humor and Utility Singapore, 31st Mar 2024, King NewsWir...

Visa New Zealand Simplifies Travel with Efficient eVisa Solutions for Canadian, Norwegian, Omani, Qatari, and Korean Citizens
Grand News Network
November 9, 2024

Visa New Zealand Simplifies Travel with Efficient eVisa Solu...

New Zealand, 9th Nov 2024 - Visa New Zealand has launched a cutting-edge eVisa solution designed to ease travel for citizens from Canada, Norway, Oman, Qatar, and South Korea. With a streamlined, digi...

Scripted Brilliance: The 15th New Media Film Festival Spotlights Top Contenders for Script Category
Grand News Network
May 23, 2024

Scripted Brilliance: The 15th New Media Film Festival Spotli...

The New Media Film Festival® stands out as a beacon for storytellers who are eager to push the boundaries of conventional narratives. It's a festival that celebrates the fusion of technology and story...

Why Professional Commercial Cleaning Services Are Essential for Your Business
Grand News Network
April 3, 2024

Why Professional Commercial Cleaning Services Are Essential...

United States, 3rd Apr 2024, King NewsWire - In today's competitive business landscape, maintaining a clean and sanitized environment is more crucial than ever. Whether you operate a small office, a r...

Chain Joes: Where Entertainment Meets Revolution
Grand News Network
January 30, 2024

Chain Joes: Where Entertainment Meets Revolution

Zug, Zug, Switzerland, 30th Jan 2024 – Welcome to Chain Joes: We want to welcome you for an exciting journey into the world of Chain Joes! As avid enthusiasts of crypto and web3 culture, we’re thrille...

Vietnam Evisa Common Mistakes And How To Avoid Them
Grand News Network
June 28, 2024

Vietnam Evisa Common Mistakes And How To Avoid Them

Evisa OnlineThe goal of the E-Visa system is to streamline bureaucratic processes for travelers and offer a different option to visas obtained at border crossings. An eVisa functions as an electronic...

A Beacon of Environmental Stewardship: The Senigallia Clean-Up Initiative and How Europeans Can Contribute to a better Environment
Grand News Network
February 15, 2024

A Beacon of Environmental Stewardship: The Senigallia Clean-...

In the picturesque city of Senigallia, a heartening scene unfolded as a group of dedicated volunteers gathered to address an environmental concern that the high tide had brought to light. The voluntee...

Beloved Author Carolynn Tucciarone Teams Up for New Series and Screenplay Adaptations
Grand News Network
August 3, 2024

Beloved Author Carolynn Tucciarone Teams Up for New Series a...

United States, 3rd Aug 2024, King NewsWire - In her upcoming collaboration, acclaimed author Carolynn Tucciarone is joining forces with online streaming giants to bring her much-loved books to the scr...

Michael Pyle’s White Sugar, Brown Sugar Honored as Finalist in the 2024 American Legacy Book Awards
Grand News Network
May 12, 2024

Michael Pyle’s White Sugar, Brown Sugar Honored as Finalist...

Daytona Beach, Florida, United States, 12th May 2024 - Author Michael Pyle proudly announces that his novel, White Sugar, Brown Sugar, has been selected as a finalist in the inspirational fiction cate...