How To Keep NFTs Safe From Hackers, According To Manifold Co-Founder

In a recent Twitter conversation, @richerd, the co-founder of Manifold.xyz, a platform for non-fungible tokens (NFTs), described the ways hackers use to steal money and NFTs from cryptocurrency wallets. His experience as the go-to expert for wallet security involves dealing with hackers as well as ensuring that wallet security is maintained at all times.

Having been a victim of a wallet hack myself, I know firsthand how upsetting it can be to lose your whole investment account.

How Hackers Steal NFTs From Crypto Wallets & Precautions

Websites that are designed to seem to be real financial organizations to collect information about customers. A typical approach used by hackers is to lure users to a legitimate-looking website with the promise of receiving free NFTs in exchange for their personal information.

When a user attempts to connect their Metamask to the website and receives a fake error, the user is prompted to submit their seed phrase. When you share your seed phrase with someone, they have access to your wallet as well as all of your Bitcoin and NFT holdings.

Aside from that, hackers take advantage of Telegram and Discord channels by pretending to be of aid. In addition to sending private messages to individuals seeking assistance, the gang has discovered a new method of deceiving people: they link them to private phishing websites.

Screen Sharing

If someone is sharing their screen with you, the Metamask seed phrase may be disclosed. Hackers frequently take control of customer service accounts on messaging services such as Telegram and Discord, among others.

Their screen sharing will inform customers that they would “repair” their system by guiding them through a series of procedures that will disclose their seed phrase to the hacker, according to their screen sharing.

Remote Control

Hackers can infect a user’s computer with malware that grants them access to the user’s file system, computer memory, and screen. Install software only after doing a thorough investigation into the software’s legitimacy. When working on their computers, users should avoid opening any files or using any applications that aren’t strictly necessary for the job at hand.

Social Engineering

In the context of Wikipedia and light of the Wikipedia definition, psychological manipulation is a phrase that may be used in cyber security to refer to the manipulation of individuals using psychological methods.

This is a type of confidence trick that is used to gather information, conduct fraud, or obtain access to a computer system or network. There are several steps to the social engineering process, which are more complicated than the traditional “con” approach.

Attackers can acquire the trust of users before requesting Ether or other tokens on the pretext that the user’s trusted contact’s account has been closed or is completely depleted.

Physical Hardware Intrusion

The seed word may be obtained by a hacker attempting to get physical access to your computer system. It is also feasible to collect information from the target computer through the use of an external device like a USB port. Occasionally, the intruder has been known to snag the laptop and get away with it.

Hacking the Supply Chain

While there are numerous secure methods to utilize hardware wallets, there are also several ways for an attacker to compromise your money and non-fungible tokens (NFTs) by installing malicious code onto a hardware wallet.