Not really a wallet hack. More a "user was dumb enough to install goofy software that steals private keys" case.
IT security is always a trade off between accessibility (easy pw, same pw everywhere, all eggs in one basket etc) and complex layers of protection
Topic: [2017-09-05]Wallet Hacks: How a Person Lost Over $300,000 Due to Simple Mistakes (Read 5037 times)
September 06, 2017, 08:50:28 AM
September 06, 2017, 06:56:13 AM
wooow if this is my money i will remove my clothes and lost my mind
September 06, 2017, 06:15:00 AM
OMG i think blockchin add more than 5 way to save you so waste more time and activate it
September 06, 2017, 01:35:10 AM
This has been the long time problem of the computer era: the end user is, and will always be, the weakest link in the chain.
September 05, 2017, 06:44:01 PM
What happened was a simple mistake from the owner, just take it as an advice to do not repeat the same mistake from others.
The article mentioned some preventive measures like; Turn on 2FA for all your accounts. Not text message based, but with google authenticator where possible. And the most important thing is to secure your wallet, do not put all eggs in one basket, when it's gone, there is no another wallet as back up funds.
The article mentioned some preventive measures like; Turn on 2FA for all your accounts. Not text message based, but with google authenticator where possible. And the most important thing is to secure your wallet, do not put all eggs in one basket, when it's gone, there is no another wallet as back up funds.
September 05, 2017, 05:13:54 PM
That is why security should be the number one concern of anyone that wants to get into crypto. It is so easy to get hacked if you do not secure your accounts properly. Just curious though why he was hacked. What was it that caused the hack? Was it because of repetitive passwords or that generally his password was stolen thru a keylogger?
On the internet founds can be stolen by hacking very easy. Big sum of money are just going to a guy a group of people who could jump through the sites security. I think this fact was one more add about reasons of why the price of bitcoin and some other alts are going down this days. 
September 05, 2017, 03:10:38 PM
Starting two weeks ago, an ether wallet received hundreds of thousands of dollars. The only problem was that these funds were hacked from different wallets. Unfortunately, the vast majority of the funds were hacked due to carelessness on the part of the user.
Well the hacker just found out a exploit of the Jaxx wallet and a rooted phone. So it the user fault why he losses thousands of dollars. With the current situation, its more likely that more hacks, exploits on the vulnerability will come on the users of cryptos. Its really up to us to really secure our coins, although the exploits has been known for many months, Jaxx did not do anything because fixing the issue would make Jaxx wallet more difficult to use. I have a Jaxx wallet but I haven't put any funds once I read about this exploit. Just really sad to see someone losses that big amount, and the person have learn enough to spread his funds across, he would lost that much. IMHO.
September 05, 2017, 12:23:06 PM
Ethereum third party wallets are largely untested and most probably have many bugs. Bitcoin has been around much longer
and most bugs and exploits has been identified and rectified. I can still remember when Blockchain.info had problems with
their platform. If the hacker was not honest, Bitcoin loses on their wallets would have been huge. Luckily the hacker was a
white hat and he returned the funds after he pushed them to a safe address.
and most bugs and exploits has been identified and rectified. I can still remember when Blockchain.info had problems with
their platform. If the hacker was not honest, Bitcoin loses on their wallets would have been huge. Luckily the hacker was a
white hat and he returned the funds after he pushed them to a safe address.
September 05, 2017, 12:04:12 PM
Any suggestions on length or complexity or rememborability (?) of password?
You're better off leaning towards a passphrase than a password. It's easier to remember and harder for a computer to work its way to.
Something like "I hate your ridiculous cheese Ferrari because it smells" but ideally something more random, will be far harder to crack than the usual passwords people go for.
This is a good article on the subject - https://theintercept.com/2015/03/26/passphrases-can-memorize-attackers-cant-guess/
September 05, 2017, 11:47:51 AM
Any suggestions on length or complexity or rememborability (?) of password?
September 05, 2017, 10:29:18 AM
That is why security should be the number one concern of anyone that wants to get into crypto. It is so easy to get hacked if you do not secure your accounts properly. Just curious though why he was hacked. What was it that caused the hack? Was it because of repetitive passwords or that generally his password was stolen thru a keylogger?
September 05, 2017, 10:22:17 AM
Starting two weeks ago, an ether wallet received hundreds of thousands of dollars. The only problem was that these funds were hacked from different wallets. Unfortunately, the vast majority of the funds were hacked due to carelessness on the part of the user.
Over the past couple of weeks, over $400,000 worth of Ethereum has been transferred into a hacker’s wallet, the transactions are shown here. Over $350,000 of the ether was stolen using a process that was released publicly over two months ago. With some security measures, at least some of the funds could have been saved from the hacker.
The full article: https://coinidol.com/wallet-hacks-how-person-lost-funds/
Over the past couple of weeks, over $400,000 worth of Ethereum has been transferred into a hacker’s wallet, the transactions are shown here. Over $350,000 of the ether was stolen using a process that was released publicly over two months ago. With some security measures, at least some of the funds could have been saved from the hacker.
The full article: https://coinidol.com/wallet-hacks-how-person-lost-funds/
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