Cybersecurity expert ends up stealing $600,000 worth of crypto

Crypto scams are continuing across the world. Like every sector, many individuals are working to find ways to launder money. Recently, Floridian police have arrested a cybersecurity expert for allegedly stealing $575,910 worth of digital assets of its clients. The suspect, known as twenty-seven years old, Aaron Daniel Motta, reportedly transferred the digital assets, fitting the victim’s security system, WFLA reports.

Certified ethical hacker launders crypto

Particulars of the case indicate that Motta scarfed the client’s Trezor hardware case and accessed the countersign before transferring the funds to his wallet.

Interestingly, on Linkedin, Motta describes himself as a “certified moral hacker” and “CyberSec analyst” operating the Motta Management & Mitigation Services. The suspect is out on bond once charged with two counts of stealing and offenses against pc users.

Are cryptocurrency hardware wallets secure?

Although the hacker accessed Trezor’s parole that was at an identical place, the hardware notecase is considered the safest within the world for storing digital currencies. Despite the guarantee of safety, hackers exploit vulnerabilities in such wallets to steal crypto from unsuspecting holders.

For instance, according to FinBold, Trezor hardware cryptocurrency wallets users recently became the targets of a brand new phishing campaign. The attack concerned a social engineering breach of the key email selling platform Mailchimp and stealing its shopper data.

The hackers reportedly sent mass emails to Trezor users claiming that their accounts were compromised during an information breach. The unhealthy actors directed the holders to update their Trezor Suite by fixing a new PIN.

Trezor fixed some vulnerabilities this year

The latest crypto hack story follows an important announcement by Trezor earlier this year. The cryptocurrency hardware wallet services provider has highlighted that it has fixed some vulnerabilities. This vulnerability includes copying the key and PIN into the RAM.

The response followed an in-depth video wherever a YouTuber explained. However, he hacked the pocketbook and recovered $2 million.

As per a Finbold’s report, a cryptocurrency capitalist known as Phillipe Christodoulou claimed that he lost about $600,000 in Bitcoin through a faux Trezor’s wallet app downloaded from the App Store. The app is alleged to own reflected attributes of the authentic Trezor app with express disapproval and sensible ratings.