Reddit User Falls In Con Artist Trap, Looses $1 Billion Worth Cryptos From Trezor Wallet
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Reddit User Falls In Con Artist Trap, Looses $1 Billion Worth Cryptos From Trezor Wallet

August 19, 2020      Jyoti Singh

Reddit User ‘OkLet5529’ held around $1 billion worth of cryptocurrencies in his Trezor Wallet but recently he has been deceived of his holdings, says the report.

While the report was being filed, the Reddit user in his statement notified that the Federal Bureau Of Investigation is already searching for the stolen funds. Further, the victim requested the crypto experts to cooperate into the investigation so that they could catch the defrauder and book him in a defrauding case.

Reddit User Approaches Chainalysis

The Reddit user also mentioned that the main culprit behind this whole act has successfully stolen Bitcoin, Ethereum and Litecoin worth around $1 billion, which the victim has kept secured in his Trezor wallet.

Soon after his loss, the victim approached Chainalysis and claimed that he later realized that he logged into a counterfeited website of Trezor. 

To trick crypto users, the fraudulent create an illegitimate website with legitimate logos and designs.

This is not the first time Trezor wallet has been compromised, on July 01, 2018, the same kind of incident took place. Later, the support team of the digital wallet received a lot of inquiries about the invalid SSL certificate. 

During the investigation, they found out that the frauds might have used the BGP hijacking and DNS poisoning for hacking.

Measures For Crypto-Enthusiasts

Recently, while notifying the crypto enthusiasts in the space, the victim warns them to remain cautious of these dubious kinds of crypto websites.

He further explained that while searching for a crypto website the users should look for the secured sign on the browser. And later when they transfer their cryptos into the Trezor the wallets the crypto enthusiasts should cross-check all of the operations.

Reddit user also advised the enthusiasts to not share any kind of private information with the third party.

Notably, most of the users around the world do not take these measures seriously and hence become the victim of fraud.

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#‘OkLet5529’ #BGP hijacking #Chainalysis #DNS poisoning for hacking #Ethereum #Federal Bureau Of Investigation #Litecoin #Reddit User #SSL certificate #Trezor wallet
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.