Cyber security expert could steal more than half a million dollars in crypto

Police have arrested a cyber security expert who is believed to have stolen his client's hardware wallet.

In addition, he seized passwords, so he could steal almost $ 576,000 in cryptocurrencies.

Self-proclaimed cyber security expert

The suspect is a 27-year-old male, whom the victim asked for help in setting up a security system. However, it was not an anonymous internet user, but the owner of a legally operating company Motta management & Mitigation services. On his LinkedIn account, the detainee described himself as a certified ethical hacker and cyber security analyst. This confirms that when it comes to digital assets, no one can be trusted.

After the police in Florida arrested a man, he was charged with theft and committing a crime against a computer user. Currently, the suspect has been released on bail.

How could a criminal steal funds from your wallet?
On the pages of bithub, we repeatedly remind you that storing funds on exchanges is not a good idea (in February, the CEO of the Kraken exchange also confirmed this, as we reported in the article: Jesse Powell warns against centralized exchanges).

How, then, could the aforementioned cybersecurity expert gain access to cryptocurrencies worth over half a million dollars? In this case, unfortunately, the victim was at fault, who stored the password ... in the same place where his hardware wallet was located.

Safe storage of phrases is the basis

So it's worth making sure that both your wallet and recovery phrases are stored securely. In addition, phrases should never be shared with strangers, even if they pass themselves off as exchange employees or cybersecurity professionals.

Attack on users of hardware wallets

You should also be wary of any emails that are allegedly sent by wallet manufacturers. Recently, criminals have carried out a massive phishing attack on users portfolios Trezor. In this case, even experienced users may have trouble recognizing that the message was not sent by the company's employees. For more information, see the article: fake news from Trezor.

If you know interesting ways to effectively secure digital assets, be sure to share them in the comments.

Kuantyay Sabaaymi

Kuantyay Sabaaymi was born in Phuket, Thailand. Graduated International Business the executives at the University of the Thai Chamber of Commerce. Over the past three years he served as a Financial Analyst, where he was answerable for study, ordering and research of monetary data and accounting reports. The other job was to make, keep up and give and monetary detailing and examination.

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