Fraud incidents and stories we transmit on the Arab Bitcoin website, not for the purpose of intimidation or just stuffing the content, but for users to bite and learn lessons from them and not become victims of such.

Recently, a Reddit user lost $1,200 worth of Ethereum after… mistake He put his recovery phrase in his GitHub repository (a platform that allows storing files and software code over the Internet).

While this case and incident is an uncommon case, it reveals that hackers are on the lookout and have prepared malicious programs and bots that detect private keys and recovery phrases and transfer them to the concerned parties.

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As this user lost his money in less than two minutes, he indicated this on the Reddit platform by saying:

The hacker got my wallet and stole $1200 of Ethereum from my Metamask wallet in less than 100 seconds.

And as we mentioned at the beginning of the article, the first mistake this user made was leaving the wallet recovery phrase on GitHub, which eventually led the hacker to capture it and withdraw what was inside it.

For information, the 12-word recovery phrase is very important and more important than the private key, as it allows the recovery of cryptocurrencies from the wallet in the event that the private keys are forgotten and is considered a last resort.

Therefore, the private keys or recovery phrase should not be published publicly or in an open source location such as GitHub.

A user who lost $1,200 of Ethereum still has $700 of ERC-20 tokens locked into the DeFi protocol, which are used to lend crypto to other people. under the control of the hacker.

In the event that the user wants to transfer it to the owner, he has to pay more gas so that his treatment is superior to that of the hacker.

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As it is known, transactions on the Ethereum network are given priority to those who pay the largest gas fees, in this case the user and the hacker transfer $ 700 at the same time to different external addresses. Here priority is given to those who pay the largest gas fees.

clearer The user says so:

Although there are some crypto and tokens left, the bot will drink any Ethereum that gets into the wallet, I have to stop it moving my crypto, trying to make my transaction go through by saving more gas.

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A somewhat similar case was reported last September when a hacker group hacked into a wallet containing a number of rare “CryptoKitties” that are non-fungible Ethereum tokens, each representing a unique digital “cat.”

A malicious bot was attached to the wallet and started redirecting all incoming ETH to the wallet, making the wallet hostage to these hackers, as there was no traditional way to release tokens due to lack of funds to pay for gas.

Accordingly, we reiterate the necessity of being careful and careful about private keys and recovery phrases, and they should never be underestimated.

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