Crypto wallet provider TokenPocket has launched an investigation into a security breach that led to user asset theft on February 14.
The company has teamed up with blockchain security firms SlowMist and GoPlus Security to trace the attack and assist affected users.
Crypto Wallet TokenPocket Investigates Hack
In a post on X(Twitter), TokenPocket emphasized its commitment to user security and outlined the steps taken to address the issue.
The team has systematically reviewed user complaints, conducted on-chain analysis, and engaged in one-on-one communication with victims to collect relevant data.
Through technical analysis, they identified a potential source of the breach: a third-party mining software called “Bom,” which reportedly accessed users’ photo albums and uploaded sensitive information without authorization.
This exposure may have led to the leakage of users’ mnemonic phrases or private keys, ultimately resulting in asset theft.
TokenPocket has alerted security experts at SlowMist and GoPlus Security to further track the hackers and prevent future attacks. The company has also issued an urgent advisory to users, warning them against using unverified third-party applications such as mining and airdrop tools, which could contain malicious code.
Caution for the Users
Additionally, TokenPocket reminded users to avoid storing mnemonic phrases or private keys in screenshots, social platforms, or cloud storage, as hackers could exploit vulnerabilities to gain unauthorized access.
Strengthening Security and Preventing Future Threats
To enhance security measures, TokenPocket encourages users to adopt stronger wallet protection features, such as its multi-signature wallet and Passphrase function.
The company has also recommended using Keypal, a hardware wallet solution designed to provide an additional layer of security against cyber threats. These tools can help users mitigate risks and safeguard their assets from unauthorized access.
The incident highlights the ongoing vulnerabilities in the crypto ecosystem, where phishing attacks, malware, and social engineering tactics continue to pose significant threats to users.
TokenPocket has assured the community that it remains dedicated to improving security protocols and will continue working with top blockchain security firms to address emerging threats.
TokenPocket and Fiat24 Partner to Enable Seamless Crypto Payments
Despite the recent security setback, TokenPocket is pushing forward with innovations in crypto usability. The company has announced a new partnership with Web3 banking platform Fiat24 to simplify crypto payments for everyday transactions.
With over 600 million people worldwide owning cryptocurrency, mainstream adoption for daily spending remains a challenge due to conversion fees and complex processes.
The collaboration between TokenPocket and Fiat24 aims to eliminate these barriers, allowing users to seamlessly spend their digital assets without friction.
A Commitment to Security and Usability
TokenPocket’s recent actions demonstrate its dual focus on strengthening security while improving crypto accessibility.
The response to the February 14 security breach underscores the company’s proactive approach to addressing vulnerabilities, while the partnership with Fiat24 reflects its commitment to making cryptocurrency more practical for everyday use.