By Philip Maina
2 days agoSun Aug 11 2024 08:57:33
Reading Time: 2 minutes
- Researchers have disclosed a new method that hackers can use to compromise Bitcoin wallets
- The method can work on all Bitcoin hardware wallets
- Researchers have nicknamed the method “Dark Skippy”
Hackers are committed to stealing crypto by devising new methods to access funds stored even in Bitcoin hardware wallets . Researchers have discovered a new method , “Dark Skippy,” that hackers can use to infiltrate even the most secure cold wallets. According to researchers, the method requires a wallet to sign only two transactions and users to download extra software, making crypto users’ vigilance the last line of defense against malicious actors in the crypto world.
A Wallet Firmware with Weak Security
According to researchers, hackers can only use this method if they manage to trick victims into installing corrupted firmware onto their devices by either downloading it or purchasing an already corrupted hardware wallet.
The corrupted firmware uses a weak security feature that leaks a wallet’s secret seed phrase after authorizing at least two transactions. Researchers noted that an earlier iteration of this trick required a wallet to sign many transactions before hackers could decode a wallet’s secret phrase.
They added that this trick is effective even if the secret phrases were created from a separate device. The researchers advised hardware wallet manufacturers to put extra measures to prevent their devices from being corrupted.
$2 Billion Stolen
They also asked wallet users to be extra careful to prevent becoming victims. Bitcoin wallets have continuously been under attack probably due to the value of the assets they hold.
The discovery comes as crypto scammers invent new ways to siphon funds from unsuspecting victims’ wallets. Their latest attempts include the use of QR codes and fake Zoom links to steal crypto and NFTs .
With hackers devising new ways to infiltrate even the most secure crypto storage devices, crypto users and the entire space need to take extra steps to educate the masses and to put extra security measures.
