This magician hacker makes 4 million USDC disappear in one click – Trust Wallet investigates

A carefully crafted hack – Historically, cryptocurrencies have fueled covetousness. So, hacker and other scammers have been quick to attack the crypto ecosystem. Result: every day, protocols and users are robbed of their precious cryptocurrencies.


4 million stolen: the incomprehensible hack

Although in some cases the origin of the hacks is obvious, in others the pot of roses is not so obvious.

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Attacks are common in the cryptosphere, but their origin is not always clear.

On February 6, the Internet user 0xngmi To unveiled one crook he had stole the equivalent of 4 million dollars in cryptocurrencies.

His misadventure began on November 26, when he tries to raise funds for his project of NFT Webaverse, whose launch had just been crowned with success. During these steps, he was contacted by the lawyer of an interested investor.

This would thus represent the grandson of the wealthy Joseph Safra. After KYC exchangethe Webaverse teams have decided to continue negotiations.

Before concluding the deal, the investor asked to organize a meeting in order to ” to feel comfortable “. Thus, 0xngmi and his partner met the investor and his banker in a hotel lobby in Rome.

This interview would allow 0xngmi to present a proof of fundsto its investor. This proof was one of the necessary conditions for the investor to take part in the fundraising.

“When we met, we sat across from these three men and transferred 4m USDC into the Trust Wallet. Mr Safra asked to see the balances on the Trust Wallet app and pulled out his phone to take pictures. »

Although they may have found this bizarre, 0xngmi and his partner did not dwell on this detail, knowing that the device did not contain the private keys of the wallet. Unfortunately, this is where events took a dramatic turn.

“The investor said he was satisfied, said he had to go out to discuss next steps with his colleagues, and we never saw him again. A few minutes later, the funds left the wallet. »

And There you go, 4 million dollars gone without 0xngmi having any idea how it happened.

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Trust Wallet investigates

After this affair, the teams of Trust Wallet were asked to ensure that this was not a fault in the wallet.

Although they found no flaws, they decided of lead the investigation to understand what had happened.

“We have investigated the reported activity and spoken to security professionals about it. We believe this was caused by a social engineering scam that involved a series of events leading up to this moment. »

Indeed, Trust Wallet teams suspect that attackers transmitted malwareto their victim at the time of the exchange of KYC papers and various investment agreements.

Everything else was just a stage to blur the origin of the attack.

In addition, the Trust Wallet teams discovered that itcould well be organized criminalse. Indeed, there are several other reports, for similar cases, involving Trust Wallet or other wallets.

The operational mode is often the same. The scammers pose as potential investors before infecting the victim and stealing the funds.

Other attack vectors can be considered. Indeed, it would not be impossible that the scammers used a technique called “address poisoning”, a new type of attack discovered by MetaMask.

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Last Verdict

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