The post Use LastPass? Own Crypto? You Could Lose Everything If You Don’t Act Fast appeared on BitcoinEthereumNews.com.

Over the last 10 months, more than 100 seemingly secure crypto wallets—many held by high profile, tech-savvy members of the crypto community—have been drained of tens of millions of dollars’ worth of cryptocurrency, without any clear indication how. Now, the answer is becoming clearer: The thefts appear to be due to a hack of LastPass, the password management company.  For months, the seamless and consistently repeated attacks baffled security experts, who couldn’t figure out how to stop the theft. Victims did not appear to be falling for scams, or doing anything online for that matter, that risked exposing their private information.  Besides, it turned out, prioritizing wallet security. On-chain researchers have since concluded—as the attacks continue to persist monthly—that the hacker in question is likely accessing victims’ funds by using wallet passwords and seed phrases exposed during a hack, last winter, into password manager LastPass. Since that hack, passwords obtained from the computer security service have reportedly led to the theft of at least $39 million worth of crypto, and counting. Just last week, the hacker made off with another $4.4 million in crypto, in what experts have identified as another attack that traces back to LastPass.  Just on October 25, 2023 alone another ~$4.4M was drained from 25+ victims as a result of the LastPass hack. Cannot stress this enough, if you believe you may have ever stored your seed phrase or keys in LastPass migrate your crypto assets immediately. pic.twitter.com/26HsxrlnCb — ZachXBT (@zachxbt) October 27, 2023 Taylor Monahan, a lead product manager at MetaMask, first promulgated theories about the mystery hacks’ potential origins in April, back when the attacks had only netted about $10 million in stolen crypto. Since then, Monahan and other blockchain analysts have identified LastPass as the apparent common thread connecting victims of the hacks.…

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Filed under: News - @ October 31, 2023 5:20 am