Cybersecurity Expert Stole $576,000 Crypto From Client’s Hardware Wallet

Vignesh Karunanidhi
Cybersecurity Expert Stole $576,000 Crypto From Client’s Hardware Wallet
Source: Pixabay

A cybersecurity expert stole $576,000 in crypto from a client in Florida, promising to set up a security system.

27 years old Aaron Daniel Motta is the suspect who transferred assets worth $576,000 in crypto from the client to his wallet.

In a promise to improve security

The accused attempted the crypto loot while promising to improve a man’s security. He stole the Trezor wallet from the victim’s home. The police also managed to find out the wallet password while capturing the suspect.

Motta transferred the assets from the man’s wallet to Motta’s private wallet. Motta, an ethical hacker and cybersec analyst by profession, completed his education at St. Petersburg college.

His LinkedIn profile mentions that Motta is the Motta management and mitigation services, owner. The police arrested him on charges of grand theft and offenses against computer users.

How safe are Trezor wallets for your crypto?

The recent theft includes a Trezor wallet, considered one of the safest ways to store your crypto. Attacks like this make users doubt the safety of such cold wallets.

Despite security assurance, hackers exploit flaws in such wallets to steal cryptocurrency from unwary holders.

Users of Trezor hardware bitcoin wallets, for example, have just become the focus of a new phishing effort. The assault consisted of a social engineering hack of the large email marketing platform Mailchimp and the theft of client data.

According to reports, the hackers sent out bulk emails to Trezor users alleging that hackers had hijacked their accounts in a data breach. The malicious actors instructed the owners to upgrade their Trezor Suite as well as set up a new PIN.

Trezor had come out earlier this year that they had come out with updates to fix such issues. Out of the blue, an engineer dropped a video on how he hacked a Trezor to recover $2 million in crypto, reassuring us how easy it is for the hackers to carry out such attacks.