Another Crypto Wallet Hack Sees Theft of $400,000 in Stellar Lumens

NOTICE: Place Your Ads Here @ $100/Month (crypto payment only)!

WELCOME! DO YOU WANT TO EARN CRYPTO DAILY? - This App Reward Users Daily In Crypto - Click To See How Now!

ImportantIf you had an account on BlackWallet do not attempt to login. Instead, please check you’re account balance through the official Stellar Account Viewer, found here,

In a statement sent out today by its founder open source online Stellar wallet Black Wallet has claimed to have been hacked. Posting on Reddit, user orbit84 posted that a hacker gained access to his hosting provider account and changed the DNS settings to his own hosted version of BlackWallet. The attackers’ wallet, which the author posted a link to, appears to have amassed around $400,000 USD worth of cryptocurrency Stellar which has seen its market capitalization apply almost 3 fold over the past month.

Security research Kevin Beaumont was able to identify a piece of code which checked if a user had over 20 lumens and if they did moved them to a hardcoded wallet address. The attack comes after a series of social engineering attacks targeting the ever-growing crypto market.

Exchange EtherDelta suffered from a similar attack late last year caused by a DNS Hijacking. That attack was reported to be smaller with the attacker gaining just $250,000 worth of ether.

Much like the EtherDelta attack, the attacker appears to have been laundering money to a bittrex address which likely exchanged it for other tokens and further obscured the identity of the attacker.

How the Attack Unfolded

The attack appears to have been a phishing attack aimed at the blackwallet.co’s……..

Source: Another Crypto Wallet Hack Sees Theft of $400,000 in Stellar Lumens

Leave a Comment