How $330M was stolen without hacking: The dark power of social engineering
The $330 million attack: A stark reminder of social engineering’s power A major crypto theft has sent shockwaves through the industry, with $330 million worth of Bitcoin (https://cointelegraph.com/bitcoin-price
on all accounts to make it harder for fraudsters.Use hardware wallets: To store funds securely for the long term, use hardware wallets as they reduce the risk of remote access.Community education: Circulation of scam alerts and regular security training sessions for crypto users can help raise awareness about the prowling crypto scamsters.Role of social platforms and devs in prevention: Platforms like Discord and Telegram should implement a reporting mechanism with quick responses. They can integrate transaction warnings and wallet-connection alerts to deter social engineering attacks at the source. Help available to elderly victims in the event of crypto attacks Several types of aid are available to elderly victims of cryptocurrency hacks to help them recover their possessions. Here is an insight into various options at hand.Victims can file a formal complaint with law enforcement agencies, such as cybercrime units and local police, who can carry out investigations. Many countries have financial fraud helplines that provide victims with counsel. They may discuss the fraudulent act with their lawyer, who would help them understand their rights and legal support available. Nonprofits and advocacy groups in the US, such as the American Association of Retired Persons (AARP), provide support to senior victims of scams. Crypto exchanges may assist victims by freezing suspicious transactions if alerted early. They may also contact blockchain analytics firms or crypto recovery services to assist in tracing stolen assets, though positive outcomes aren’t assured. Legal aid organizations can help victims navigate the complex processes. It is helpful for older people to involve family members and caregivers to assist them in the aftermath of an attack.
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2025-05-20 08:05:00How $330M was stolen without hacking: The dark power of social engineering