Hodlers Beware! 3 Horrific Ways Your MetaMask Wallet May Be Hacked
While cryptocurrency is a novel notion, theft and hacking are not. Numerous techniques can be used to hack your MetaMask. Hackers are always devising new and imaginative ways to capture unwary users.
MetaMask can be compromised. You’ve probably already seen several cases where hackers obtain access to users’ sensitive information and use it to break into their MetaMask wallets. In this article, we’ll discuss the 3 major techniques below, which are frequently used by crypto hackers.
- Malware
- Phishing schemes
- Fraudulent extensions
How Does a MetaMask Wallet Become Accessible To Hackers?
MetaMask wallets are usually held locally and protected with a complicated password, crypto owners are frequently astonished to hear that their wallet has been hacked.
Malware or phishing schemes compromise a MetaMask wallet. Hackers frequently do not go for the wallet directly, but rather discover a means to access password or private key information. They then exploit your details to gain access to the cryptocurrency funds.
MetaMask’s controlling corporation does not have access to your wallet information, Therefore it can only be accessible to hackers when your seed phrase is compromised.
3 Easy Ways For Hackers to Break into Your MetaMask Wallet
How can your MetaMask wallet be comprised? Find out below.
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Malware or Spyware-Based Hacking
Malware is an umbrella word for a wide range of malicious software. You may not always be aware when malware is installed on your computer, but it might arrive from any of the following sources:
- Software or websites that are compromised
- Attachments to emails
- Infected USB flash drives
If your MetaMask wallet password or private key is somewhere on your device, hackers can locate it and use it to steal whatever cryptocurrency you have saved, using Malware or spyware hacking.
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Using a Phishing Scam to Hack MetaMask
Phishing schemes are another frequent technique for hackers to steal personal information. Rather than compromising your computer to obtain information, phishing attacks are intended to fool you into providing the information yourself.
This frequently occurs when you click on a dangerous link. The URL brings you to a landing page that seems like a reputable website, and you’re generally redirected there and requested to provide information such as your MetaMask private key or username and password.
Phishing schemes may be incredibly complex, and it can be difficult to distinguish a phony website from a legitimate one, so it’s always a good idea to double-check a link before clicking it.
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Exploiting Fraudulent MetaMask Extensions/Apps/Ads
Similarly, hackers construct bogus MetaMask extensions, applications, and adverts that solicit personal information. They may even create bogus MetaMask advertising that shows at the top of a Google search. Clicking on the ad and installing a hacked app or Chrome extension would result in a MetaMask wallet breach.
How To Determine Whether Your MetaMask Wallet Has Been Hacked
You will not be notified if your MetaMask wallet is compromised. You’ll only know if you lose access to your wallet or discover that someone has drained all of your crypto funds.
Hackers often do not waste time moving or selling the cryptocurrency in a stolen wallet. Once they have access, they have complete freedom to steal anything they want. While some hackers are looking for specific coins, others may empty the entire account.
Alternatively, if you suddenly lose access to your wallet, a hacker may have altered the login information. You may still be able to retrieve your wallet using your secret password(which cannot be altered), however, your wallet is already compromised at that moment.
Read also: Bored Ape Yacht Club Instagram Hacked, $13M Worth of NFTs Stolen
How To Protect Your Cryptocurrency From Hackers
When dealing with cryptocurrencies and crypto wallets, it’s critical to utilize the correct channels and safeguard your personal information at all costs. A simple way to protect yourself from hackers is to purchase a hardware wallet (cold wallet).
MetaMask is a software wallet, sometimes known as a “hot” wallet since it is always connected to the internet. Cold wallets are kept on hardware that isn’t linked to the internet. Cold wallets have limitations, but their main advantage is security because third parties cannot access them.
In Closing
MetaMask is relatively safe as long as you’re protecting your private information. Your MetaMask wallets aren’t located on servers, and MetaMask itself doesn’t have access to your wallet.
This simply means that hackers can only access your wallets through your device or with your secret password. It is on you to take measures to protect your wallet.
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