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Hackers Are Now Trying To Steal Crypto via Malicious NFTs

CryptocurrencyOct 18, 2021 09:30AM ET
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Hackers Are Now Trying To Steal Crypto via Malicious NFTs

  • CPR reveals the hacking issue in the OpenSea NFT marketplace.
  • The hacker used a follow-up message that requires a signature for connecting to a wallet.
  • Valve plan to remove all games that use blockchain to exchange on crypto and NFTs on Steam.

The Check Point (NASDAQ:CHKP) Research (CPR) exposed the hacking of users’ accounts in the OpenSea NFT marketplace. Moreover, unusual failures in the protocol’s NFT led to the theft of all the users’ crypto wallets and the transfer of malicious NFTs.

Meanwhile, the popularity of non-fungible tokens (NFTs) has been skyrocketing recently, ranging from popular memes, pixel cartoons, arts, music, videos, etc. But, unfortunately, this move is not gone without attacks of exploitation.

Notably, though NFT works the same with cryptocurrencies, they are not currencies. Besides, NFTs are highly speculative and sell for millions. However, not all investors want them.

To clarify, the root of the problem was not only the NFT and the airdrop. However, by issuing an NFT to a victim, they will notice it. Then, there appears a follow-up message that requires a signature for connecting to a wallet.

Furthermore, the demand for a secondary signature will come up. If the user accepts it, the hackers will enter the unsuspecting users’ wallets and funds.

For OpenSea’s condition, the security lapse allowed the protocol team to upload an SVG file, including a malicious payload. This upload will work from the OpenSea storage subdomain.

Nevertheless, it might lure most users into approving the connection. The logic is that the transaction process domain comes from OpenSea, and it’s possible what is obtainable in other NFT operations.

On the other hand, Valve plans to remove all games from Steam that use blockchain to exchange cryptocurrencies and NFTs.

According to the report by the Verge, the new policy change features in the form of a new rule. Besides, the rule explains that programs “built on blockchain technology that issue or allow an exchange of cryptocurrencies and NFTs” are no longer permitted on the video game store.

Continue reading on CoinQuora

Hackers Are Now Trying To Steal Crypto via Malicious NFTs
 

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