Men’s crypto wallet worth Rs 5 Crore ‘totally wiped out’ in seconds – Reuters News in France and abroad

A crypto trader has been scammed, causing him to lose $650,000 (about Rs 5 crore) in cryptocurrency and non-fungible tokens (NFTs). The incident was shared by the trader on Twitter. Domenic Iacovone had his entire crypto wallet stolen by scammers. Domenic had stored his digital assets on a cryptocurrency wallet called MetaMask. Explaining the incident, he shared a tweet on April 15. Apparently Domenic received a phone call that led to this incident.

The crypto trader was getting several messages asking him to reset his Apple ID and password. Calling them attempted scams, Domenic ignored them. Following this, he received a call from Apple Inc. The call was received on iPhone and the number was associated with Apple, which led him to believe that the call was genuine.

In the tweet, Domenic wrote, β€œI got a phone call from Apple, literally from Apple (on my caller ID). I called it back because I suspected fraud and it was an Apple number, so I believed them. The person, on the phone, told Domenic that his account had been compromised and that they needed the OTP (one-time password) to ensure the authenticity of his credentials. As soon as he gave them the OTP, his account was wiped of all the digital assets he had stored on MetaMask.

A crypto security adviser, with an account named Serpent on Twitter, became aware of the case and shared additional details about the incident, including screenshots from Domenic’s phone.

Looked:

According to Serpent, there is a seed phrase, a 12-digit number, which should not be shared with anyone. This seed phrase is the only way to access a crypto wallet. MetaMask apparently stores this seed phrase file on iCloud, which could have been how the scammers gained access to Domenic’s wallet. After that, all they needed was an OTP sent to his phone.

MetaMask, while not commenting on the incident, shared a tweet warning users of a possible phishing scam.

Prior to the incident, the crypto wallet service did not disclose that it was storing the seed phrase file on iCloud, according to reports.

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Men’s crypto wallet worth Rs 5 Crore ‘totally wiped out’ in seconds – Reuters News in France and abroad


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