With the approaching Christmas season, crypto hackers have been more active than ever. According to latest reports, in a startling turn of events, the infamous LastPass hackers targeted 40 more people and stole an astounding $5.36 million worth of cryptocurrency.
The attack comes as one of the many that has been taking place on the crypto world.
LastPass experienced a data breach in August 2022 that had a growing impact and ultimately caused a large user migration to other password manager options. Although it is still unknown who the hackers were, the group has still be termed as the LastPass hacker group.
Latest Attack Marks Yet Another Incident In a Series of Events
The stolen money in the most recent attack was tracked by blockchain investigator ZachXBT after it was converted to Ether and transferred between different exchanges.
Following the December 2022 data breach, in which hackers gained access to encrypted vault data and compromised users’ private keys and seed phrases, this is the latest in a series of attacks.
With the October theft of $4.4 million included, the total stolen to date now exceeds $45 million.
Because hackers are still active, this is a harsh reminder to anyone who stored cryptocurrency on LastPass prior to 2023 to move their assets right away.
Crypto Hacks Rise Significantly in 2024
Crypto hacks, ranging from wallet breaches to exchange hacks, have become a major worry for platforms and investors alike. In 2024, cryptocurrency hacking has escalated to a never-before-seen level, with scams and breaches aimed at large exchanges and decentralized platforms across the globe.
High-profile incidents like the $20 million breach of a cryptocurrency wallet connected to the U.S. government and the $80 million hack of Orbit Chain have been the main drivers of this increase in attacks.
In addition to causing significant financial losses, these incidents have damaged trust in digital assets, which is why security is now a top concern for both users and organizations.
Along with the increase in DeFi, hackers are using increasingly complex techniques in 2024 to get around security measures.
ZachXBT and other on-chain investigators can frequently track stolen assets across wallets and exchanges, but following these assets has become more difficult as a result of hackers’ sophisticated obfuscation techniques.
The stakes for industry security are raised by these methods, which enable criminals to hide their tracks even on blockchains that are open to the public.