'We observed more instances of malware designed to target stored crypto credentials and drain digital wallets. Digital wallets are easy targets for hackers, as they tend to be less secure.'
Establishment of a command and controlKwong said that the best way to stop such an attack is to target it at the early phase of the process—the reconnaissance.
“If you can stop the kill chain in any phase, you actually stop the attack. But the best thing is you stop the kill chain in the early phase—the reconnaissance phase. If you can stop that, you stop the attack,” he said. The Fortinet executive said that it can still be stopped during the latter phases of the chain. However, it might be too late by then.
“But even if you stop it at ‘action on the object’, you still stop it but it’s a bit too late. It’s a bit dangerous,” he said.“Using a non-custodial wallet is preferred, as it gives the crypto user full ownership of their cryptocurrency holdings and control over their private keys. A custodial wallet—or one owned by a third party—is riskier, as the user doesn’t have total control over their wallet,” the experts said.
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