As a researcher with years of experience in the ever-evolving world of cryptocurrencies, I can’t help but feel a sense of dismay and frustration when reading about incidents like the one involving “Anchor Drops.” It seems that no matter how vigilant we may be, or how secure our storage solutions, there always remains a lurking threat.
As a cryptocurrency analyst, I’m consistently vigilant against cunning schemes concocted by scammers, aiming to capitalize on the unintentional blind spots of innocent users and pilfer their assets.
A recent unfortunate event serves as a reminder of the persisting danger, as a user of hardware wallets identified as “Anchor Drops” has reportedly lost about 10 Bitcoins valued at around $101,187 and approximately $1.5 million worth of non-fungible tokens (NFTs) that were stored on their Ledger Nano S wallet.
On December 13, 2024, “Anchor Drops” expressed concern on X (previously known as Twitter), explaining that even though they had bought a Ledger device directly from its manufacturer and kept the seed phrase securely offline, their digital assets were still breached.
It was stressed that the wallet hadn’t been linked to the internet for two months, and they asserted they couldn’t remember authorizing any harmful transactions. In search of clarification, “Anchor Drops” confronted Ledger regarding the security incident and requested a clear response.
Hey @ledger tonight I lost 10 BTC and ~1.5m of NFTs stored on my ledger Nano S
As a researcher, I’ve acquired the ledger straight from you. The critical seed phrase has been safeguarded in an offline, secure environment, ensuring it’s never been inputted anywhere digitally. I’ve made certain not to authorize any suspicious transactions. All my assets are securely stored in their physical form.
— Anchor Drops (@anchor_drops) December 13, 2024
Ledger Points to a Phishing Attack
Regarding the accusations, Ledger explained that it stemmed from a suspected phishing incident that took place on February 22, 2022. This supposed phishing event was first brought up by an X user who asserted that “Anchor Drops” had signed a fraudulent transaction under the guise of phishing activities several months ago and is now placing blame on Ledger for their own errors.
Experts in blockchain technology, such as those from Cyvers, have traced the incident back to a potentially harmful transaction that “Anchor Drops” unwittingly endorsed during that period.
According to Hakan Unal, a seasoned researcher at Cyvers, a fraudulent transaction in the form of phishing provided a malevolent user extended access to the digital wallet. This allowed them to bide their time and eventually empty the wallet when a suitable chance presented itself.
According to blockchain records, it appears they executed a fraudulent transaction linked to a phishing scam approximately three years back, without realizing they were giving permission to a harmful entity,” asserts Unal.
Rising Crypto Scams Undermine Industry Trust
According to Ledger, the assault had nothing to do with their hardware or software, and they advised users to be vigilant when confirming on-chain transactions. The firm emphasized the necessity of routinely checking token approvals to reduce potential dangers.
Despite Ledger’s response, questions remain about how the attack extended to Bitcoin holdings, which operate on a separate blockchain from Ethereum-based NFTs.
Currently, the situation surrounding “Anchor Drops” serves as a sobering example of how cyber criminals are becoming more prevalent in the cryptocurrency sector. These days, phishing attempts and exploits are getting progressively complex, with wrongdoers using cunning social engineering techniques to mislead unsuspecting users.
Approximately $2.1 billion was reportedly stolen through hacking, fraudulent activities, and exploits in the year 2024, as per blockchain security reports. One notable instance was a phishing scheme that swindled $243 million by deceiving users into sharing their sensitive wallet details under false pretenses.
On another occasion, a Decentralized Finance (DeFi) platform suffered a loss of approximately $50 million as hackers took advantage of a weakness in a smart contract. Such occurrences underscore the continuous dangers that cryptocurrency users encounter and emphasize the importance of maintaining high levels of security vigilance.
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2024-12-13 19:57