How hackers can gain access to your mobile wallets

One of the major liability’s issues with cryptocurrency is the mobile wallet applications.

Hackers have - as always - figure out a new way to access to the easiest and less secure elements of online security : Your phone number.

Lately an important number of hacking attempts have been spotted in US where hackers will call any network or phone provider such as T-Mobile,Verizon,AT&T and ask to transfer the victim’s phone number to a device under the control of the attacker. Once the control is established, they can easily reset your passwords for every account and then use your phone number as a security backup (like services provided by Google, Facebook or Twitter).

A wide number of people have complained of such attacks like the Black Lives Matter activist and the chief technologist of the Federal Trade Commission or the cryptocurrency trader and investor Chris Burniskewho told the New York time :

“My iPad restarted, my phone restarted and my computer restarted, and that’s when I got the cold sweat and was like, ‘O.K., this is really serious,’” and in which he saw hackers drain $150,000 worth of coins.

While no immediate threat is known, Bitcoin holders are suggested to pay close attention to balances accessed on mobile wallets and wait to see if any potentially fraudulent activity is taking place. Further, users are always encouraged to store the majority of the cryptocurrency holdings in offline wallets