Bitcoin wallets are said to be extremely prone to cyber attacks and this was revealed by a Colombian Jered Kenna’s story published in Forbes. The exclusive story has uncovered the truth that all those who are using Mobile Wallets may put their entire digital currency savings on the ‘edge’ if they aren’t cautious.
The story describes the pathetic tale of a bitcoins enthusiast who lost all his cryptocurrency due to a cyber fraud. And as per the Forbes article, the trouble started when Kenna started to get emails about password resets in which it was informed by two email service providers that his request to password reset was obliged.
Jered suspected it to be a cyber fraud and so he immediately asked the email service providers to verify his account via his mobile phone.
But Alas! He could not get the verification code on his mobile.
He thought that the delay might be due to a recent bill payment miss of his phone and so called his mobile service provider. The mobile service provider’s support team informed him that he is no more their customer.
It was then that Kenna realized that he was a victim of a major cyberattack and the repercussions of it were inconceivable.
Jered discovered that a hacker has faked his identity through ransomware and moved his phone number from T-Mobile to a carrier called ‘Bandwidth’. The latest carrier was linked to a Google Voice account which was smartly controlled by the hacker. Then the cyber crook assured that all calls and messages to Kenna’s phone number were routed to the new service provider in order to reset the email addresses by having the SMS codes to them.
Within seven to nine minutes, the hacker gained access to Kenna’s Paypal account, two bitcoins service accounts, his bitcoins wallet and crucially his windows account.
As his businesses accepted only Bitcoins, Jared had some bitcoins in his web wallet and some on his mobile account.
So, the hacker managed to siphon with almost 120 bitcoins from Kenna’s web and mobile wallet by gaining access to the 30-word password.
After going through Kenna’s troubled status it shows that heightened education on cyber attacks isn’t enough sometimes. The situation also acts as a perfect example of how bitcoins hunger is surging ransomware.
Remember, that once your bitcoins are gone their tracking is almost impossible. Moreover, once the digital currency reaches the ‘Blockchain Network’ it is technically impossible to claim the ownership of the digital currency.
Hence, all you Bitcoins enthusiasts over there, beware of such cyber frauds and keep your crypto in a safe and secure location.