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

Published 18/04/2022, 12:52
© Reuters. You Could Lose Your Crypto If Apple Password 'Isn't Strong Enough,' Warns MetaMask
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Apple Inc (NASDAQ: NASDAQ:AAPL) 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 (NYSE:TWTR) update on Sunday, MetaMask warned users that they may be susceptible to phishing attacks if their Apple ID password “isn’t strong enough.”

See Also: What is MetaMask Wallet?

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.

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 (CRYPTO: ETH) worth $402,988 and $252,400 in Tether (CRYPTO: USDT).

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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