Cryptocurrency Wallets Attacked Through Subreddit Posts

The use of e-currency schemes such as Bitcoin has seen an elevated number of scams and hacks targeted towards users. Right now, some few scams have been going around which have the potential, when downloaded, to install malware onto users computers. Most of the users have seen their wallets being emptied as an outcome. Of course one way to avoid such disasters and pitfalls is to use common sense.

cryptocurrency-wallets-attacked-through-subreddit-postAttack details have been hard to come these days, but hackers have also been thinking of ways to get people’s money. A new scamming link has appeared which is doing the round in the cryptocurrency circles lately. The issue is that any hacker can easily steal a Reddit’s account user details without any problems. The issue on its own is not surprising because any system that makes use of usernames and passwords has been facing some heavy hacking incidents of late.

Apparently, for the Reddit user who had their profile hacked they discovered that their account has been used to post several messages on various cryptocurrency subreddits. All the posts that were made on the various subreddits had a link that was malicious. The malicious website would be infecting the devices of the users who visited it. The links are being disguised in the posts as nothing more than a price update. The chance that people clicked on the link without any knowledge of what was happening in the future is clearly high.

The issue of the hacked Reddit account was a trivial one when compared to the damage that was made to people who visited the link that led to a malicious website. The hacked Reddit user also noted that Bittrex wallet has been drained and other several balances had also been transferred. The amount of money stolen and drained was not revealed and the currencies involved in the hack were not revealed either.

The possibility that the people who clicked on the links were affected by the malware is certainly high. The link in the subreddit posts had an article which said that the Bitcoin price would be $650. The original price. They would then be redirected to the website CryptoChartiq. With the number of people who want the prices to change, the article would have surely turned heads.

The hacking incident is a clear indication that cryptocurrency users should desist from clicking on unknown links because of the high risks. On social media sites such as Facebook, Twitter and Reddit, the posts there might be aggregated by third party users, meaning the links might not be entirely safe as you would think.

Ali Raza

Ali is a freelance journalist, having 5 years of experience in web journalism and marketing. He contributes to various online publications. With a master degree, now he combines his passions for writing about internet security and technology. When he is not working, he loves traveling and playing games.

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