Beware NFTs Now Come with Wallet Emptying Malwares
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Beware NFTs now come with wallet-emptying malwares, as hackers are quick to pounce, to weaponize the technology.

According to Checkpoint, after investigating OpenSea, the world’s largest NFT marketplace, they discovered some critical vulnerabilities. These can be exploited leading to hackers being able to take control of user accounts and empty the user’s crypto wallets by sending malicious NFTs.

Findings suggest people were receiving free NFTs from an unknown benefactor, on accepting the gift lead to hackers taking control of their wallets’ information registered with OpenSea. A popup is generated by the code, this allows them to empty the wallets. 

OpeanSea has addressed the vulnerabilities after its disclosure within an hour. Thanks to the prompt actions on part of OpenSea, we hope others follow its footsteps. Now the platform appears to be secured, though users need to beware when receiving free gifts.

According to the US Treasury report, ransomware operators in the last three years have used over 60 different variants to siphon off $5.3bn in Bitcoin payments.

According to The Record, who first spotted the Financial Crimes Enforcement Network report [PDF], suggests the ransom taken in the first 6 months this year amounted to $590m. It has surged from $416m for 2020. While the ten years of 2,184 Suspicious Activity Reports (SARs) analyzed by the agency reveals the problem is getting worse.

The Treasury team warned, “If current trends continue, SARs filed in 2021 are projected to have a higher ransomware-related transaction value than SARs filed in the previous 10 years combined, which would represent a continuing trend of substantial increases in reported year-over-year ransomware activity.” 

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