{"id":125626,"date":"2025-03-23T03:16:48","date_gmt":"2025-03-23T03:16:48","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125626"},"modified":"2025-03-23T03:16:48","modified_gmt":"2025-03-23T03:16:48","slug":"crypto-security-will-always-be-a-game-of-cat-and-mouse-wallet-exec","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125626","title":{"rendered":"Crypto security will always be a game of \u2018cat and mouse\u2019  \u2014 Wallet exec"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCryptocurrency wallet providers are getting more sophisticated, but so are bad actors \u2014 which means the battle between security and threats is at a deadlock, says a hardware wallet firm executive.<br \/>\n\u201cIt will always be a cat and mouse game,\u201d Ledger chief experience officer Ian Rogers told Cointelegraph when describing the constant race between crypto wallet firms adding new security features and hackers finding more advanced ways to access victims\u2019 wallets.<br \/>\nRogers said, unfortunately, the most straightforward scams work best because scammers rely on people making simple mistakes.<br \/>\n\u201cPeople give their 24-word phrases to people every day, so as long as that happens, then they are going to go for the low-cost tax,\u201d he said, adding:<br \/>\n\u201cAnyone who asks for your 24 words is a criminal.\u201d<br \/>\nRogers highlighted a common crypto scam where victims get tricked by replies under \u201cany post on Twitter about crypto,\u201d with messages like \u201cDM me, and I\u2019ll help you.\u201d<br \/>\n\u201cYou know that scammers are always asking you for your 24 words,\u201d Rogers said. CertiK chief business officer Jason Jiang recently told Cointelegraph that being aware of phishing attacks on social media can drastically increase a user\u2019s crypto security.<br \/>\nSometimes, scammers hijack the accounts of well-known industry figures to post malicious links, making it even harder for users to spot the scam.<br \/>\nIn September 2023, Ethereum co-founder Vitalik Buterin\u2019s account was compromised, leading to a fake NFT giveaway that tricked followers into clicking \u2014 only to drain over $691,000 from their wallets.<br \/>\nSource: CertiKRogers emphasized that this will always be the case, just as bad actors aren\u2019t limited to crypto \u2014 scams like fake emails from the \u201cNigerian president\u201d have been around for years.<br \/>\n\u201cThe cost of the attack is always commensurate with the size of the prize, right?\u201d Rogers said. In 2024, crypto hacks jumped 15% from 2023, with over $3 billion stolen.<br \/>\nRelated: Hacker steals $8.4M from RWA restaking protocol Zoth<br \/>\nMeanwhile, pig butchering scams have emerged as one of the most pervasive threats to crypto investors, with losses on the Ethereum network costing the industry $5.5 billion across 200,000 identified cases in 2024.<br \/>\nPig butchering is a type of phishing scheme that involves prolonged and complex manipulation tactics to trick investors into willingly sending their assets to fraudulent crypto addresses.<br \/>\nMagazine: Dummies guide to native rollups: L2s as secure as Ethereum itself<a href=\"https:\/\/cointelegraph.com\/news\/crypto-security-hackers-cat-and-mouse-game-ledger-wallet-executive?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCryptocurrency wallet providers are getting more sophisticated, but so are bad actors \u2014 which means the battle between security and threats is at a deadlock, says a hardware&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125626"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125626"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125626\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125626"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}