Cryptocurrency wallet providers are getting more sophisticated, but so are the evil actors – which means the battle between security and threats are in a deadlock, says a hardware wallet firm executive.
“It’s always been a cat and mouse game,” Ledger’s chief experience Ian Rogers told cointelegraph when describing a ongoing race between crypto wallet companies adding new security features and hackers that find more advanced ways to access victims.
Rogers said, unfortunately, the most uplifting scams work best because scammers rely on people who make simple mistakes.
“People give their 24-word phrases to people every day, as long as that happens, then they will go for low taxes,” he said, and added:
“Anyone asking for your 24 words is a criminal.”
The Rogers have been highlighting a common Crypto scam Where the victims have been —tick through the responses under “Any Twitter post about Crypto,” with messages like “DM ME, and I’ll help you.”
“You know that scammers are always asking you for your 24 words,” Rogers said. Certik Chief Business Officer Jason Jiang recently said Crypto security security.
Sometimes, scammers hijacking accounts of known industry numbers to post malicious links, making it more difficult for users to see the scam.
In September 2023, the Ethereum co-founder Vitalik Blerin’s account is compromised.
Source: Certik
Rogers emphasized that it will always happen, justly As a bad actor Not limited to crypto – scams such as fake emails from “Nigerian President” have been for years.
“The cost of attacking is always consistent with the size of the prize, right?” Said Rogers. In 2024, crypto hacks jumped 15% from 2023, With more than $ 3 billion stolen.
Related: Hacker steals $ 8.4m from RWA Restaking Protocol Zoth
Meanwhile, meanwhile Pigs have appeared pigchering scam As one of the most widespread threats to crypto investors, with losses in the Ethereum network worth the industry of $ 5.5 billion in full 200,000 determined cases in 2024.
Big butchering is a type of phishing scheme that involves prolonged and complex manipulation tactics to deceive investors in voluntary sending their possessions into fraudulent crypto addresses.
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