Alternative Investments

You Could Lose Your Crypto If Apple Password ‘Isn’t Strong Enough,’ Warns MetaMask

BY Benzinga TIMEApril 18, 2022 PRINT

Apple Inc users who have enabled an iCloud backup for app data could be at the risk of losing cryptocurrency stored in their MetaMask wallet.

What Happened: In a Twitter update on Sunday, MetaMask warned users that they may be susceptible to phishing attacks if their Apple ID password “isn’t strong enough.”

MetaMask’s announcement comes after a user by the name of Domenic Iacovone reported as much as $650,000 stolen from his MetaMask wallet as a result of a phishing scam.

Epoch Times Photo
(Benzinga)

According to a run-down of the events by DAPE NFT Founder “Serpent,” the scammers were able to access Iacovone’s MetaMask wallet because his seed phrase had been automatically saved on his iCloud storage without his knowledge.

The scammers used a spoofed caller ID marked as Apple to convince the user a share a code sent to his device, claiming suspicious activity linked to his account.

After he shared the code, the scammers used it to reset his Apple password and enter his iCloud account, where they were able to access all data stored, including the one stored by MetaMask.

The scammers stole 132.86 Ethereum worth $402,988 and $252,400 in Tether.

By Samyuktha Sriram

The Epoch Times Copyright © 2022 The views and opinions expressed are only those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Benzinga
You May Also Like