TL;DR

• When 10's of millions of dollars from high profile, tech-savvy members of the crypto community goes missing, it turns a few heads.

• Turns out, there was a security breach of the password manager, LastPass, back in March this year which has resulted in sufficient info stolen for hackers to recover or change the password for many targeted crypto wallets.

• What should you do? Learn about cold wallets, buy yourself a hardware wallet (we use the Ledger Nano X - not sponsored, just facts), and move your coins over to your cold wallet.

Full Story

Hacks in the crypto space are nothing new.

But when 10's of millions of dollars from high profile, tech-savvy members of the crypto community goes missing, it turns a few heads.

We've discussed plenty of scams before, from fake apps to the 'Pig Butchering' scam, but victims of this latest scam don't appear to be have been doing anything all that risky.

So what the hell has been going on?

On-chain super sleuths have discovered that the hacker (or hackers) in question have literally been using victims’ wallet passwords and seed phrases to send crypto to their own wallets.

Turns out, there was a security breach of the password manager, LastPass, back in March this year which has resulted in sufficient info stolen for hackers to recover or change the password for many targeted crypto wallets.

What should you do?

As a first step, if you have a crypto wallet which has a password saved on LastPass, change your wallet password right away!

As a second step, learn about cold wallets, buy yourself a hardware wallet (we use the Ledger Nano X - not sponsored, just facts), and move your coins over to your cold wallet.

Hardware wallets are more secure than software wallets, because they are not permanently connected to the internet, which makes them very hard to hack remotely.

Sure, you have to make sure you keep the hardware wallet in a safe place, but at least you won't lose your crypto simply due to a third party being hacked!

Crypto hygiene folks - it ain't sexy, but boy is it important.