MetaMask Hit by Phishing Hackers. USD 10 million worth of Ethereum-type crypto coins stored in the MetaMask digital wallet were reported missing just two days after the MetaMack blockchain chain was breached by hackers.
This announcement was released directly by the CEO of MyCrypto which has been acquired by MetaMask, Taylor Monahan via a tweet on his Twitter account on Tuesday (18/4/2023).In his tweet, Monahan explained that the MetaMask blockchain chain had experienced a massive breach, up to 5,000 ETH coins were lost within 48 hours.
“Over the past 48 hours I have unleashed a massive wallet drain operation,” Monahan tweeted.
This hack is most likely done by experienced crypto hackers. Because the method used is quite complicated. Based on investigations it appears that this attack is targeting secret recovery phrases to access Ethereum assets that are not stored securely by real users.
This vulnerability was then used by hackers to carry out the method of stealing private keys in stages on reserve funds that were stored more than one year ago. In this way, this hacker managed to check the funds that have been stored in the MetaMask wallet from 2014 to 2022.
This hack adds to a long list of phishing actions against cryptocurrency assets throughout 2023. During the last three months, cases of crypto hacking have been recorded as reaching 452 million US dollars.
MetaMask Hit by Phishing Hackers. It is not yet known exactly who was behind the hack, but after this incident the MetaMask security team started restoring the system to protect user funds.
To prevent such incidents from happening, a spokesperson for MetaMask urges users to store private keys in any place or device connected to the internet. Not only that, Monahan also advises users not to store all assets in the same key or phrase for years.