Be sure to disable iCloud back-up if using MetaMask: Apple user loses $650,000 in seconds

April 25, 2022 Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Metaverse, NFTs, Cyber Security, Hacks, Fraud Alerts, Risks, FinTech and Alternative Finance, Fintech International, Fundraising, Investing, Trading, Innovation and Resources No comments

Finbold | Ana Nicenko | Apr 19, 2022

apple icloud back up and metamask issue - Be sure to disable iCloud back-up if using MetaMask: Apple user loses $650,000 in seconds

Important: Be sure to follow details on disabling iCloud backup if using MetaMask!

In one of the most recent hacking incidents, an attacker managed to steal a person’s entire collection of cryptocurrencies and NFTs worth more than $650,000, from their MetaMask crypto wallet, as reported by CNET on April 18. A few days before, the victim, Domenic Iavocone, took to Twitter to convey what exactly happened:

This is how it happened, Got a phone call from apple, literally from apple (on my caller Id) Called it back because I suspected fraud and it was an apple number. So I believed them They asked for a code that was sent to my phone and 2 seconds later my entire MetaMask was wiped

See: Crypto.com $34 million stolen in user account hack | Data Breach Lessons

According to Iavocone, the stolen assets included $160,000 worth of Ethereum (ETH), a Mutant Ape Yacht Club NFT worth an estimated $80,000, as well as $100,000 in ApeCoin (APE) and $250,000 in Tether (USDT).

According to a security expert called Serpent, “it’s going to happen to a lot more people” and the key to avoiding such unfortunate events is to:

“Always use a cold wallet to store your valuables. Never give out verification codes to anyone. Protect your information, don’t give out your phone number or your personal email. Caller information is easy to spoof. Companies like Apple will never call you.”

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