What the owner of a compromised cryptocurrency wallet should do

With the advent of the Internet and the transition to the international banking system, criminals became impersonal, and the demand for “safecrackers” decreased markedly.

Now that cash is noticeably inferior to electronic money, it is time for a different kind of specialist, called a “hacker.

Every second there are several thousand attempts to hack into an account holding personal information, sensitive data or money.

And, of course, along with the rise in the value of cryptocurrencies, attackers from the digital world could not avoid such an attractive and expensive object.

How a cryptocurrency wallet was hacked

WHAT TO DO IF YOUR PERSONAL WALLET IS HACKED
If you are faced with a situation where once again, going into a cryptocurrency wallet, you could not find your cryptocurrency on it, it is likely that it was stolen by hackers who gained access to your account with the help of a virus program.

Cryptocurrency wallet hacking actions

In this case, the sequence of actions should be as follows:

• Conduct a PC scan with one of the anti-virus programs.
• Destroy the virus and restart the computer.
• Then log in to the account from the cryptocurrency wallet and change the password in the security settings.
• Be sure to set double authentication for the wallet.

Important! If the account was hacked by the client, it means that the security level of your wallet was too low and double authentication was not set on it. In this case, the developer of the wallet is not responsible for the funds lost through your fault, and it is practically useless to hope for a refund.

WHAT TO DO IF CRYPTOCURRENCY WAS STOLEN ON DEVELOPER SIDE
Unfortunately, such cases have already happened and the second most capitalized cryptocurrency Ethereum node was hit by attackers in 2017.

At that time, the DAO robotic algorithm, based on a smart contract, found a weak spot in the Ethereum chain and managed to steal about $34,000,000 or 150,000 ETH.

The blame for this fell entirely on the development team at the Ethereum Foundation, who had to take measures to compensate investors for the stolen funds.

Since nothing can be lost without a trace in the blockchain technology chain, the stolen Ethereums were identified and frozen, and their owners were compensated by the developers.

Whereas the frozen 150,000 ETH were converted into a fork called Ethereum Classic.

All this was made possible thanks to the mass appeal of Ethereum users within 24 hours after their investment disappeared.

Therefore, in any case, as soon as funds are missing from your cryptocurrency wallet, be sure to contact the developer through its official website, because the chances of recovering your investment can be quite high.