Crypto proponents have gone through a high-profile hack for another time after a prominent password manager LastPass witnessed a hack. ZachXBT, a well-known blockchain security threat hunter, recently disclosed this incident on the social media platform X and asserted that more than 25 investors lost funds. As per ZachXBT, the victimized users saw losses of several million dollars as a result of the LastPass exploit.
LastPass Clients See a Huge Loss of Up to $4 Million in Crypto in the New Hack
The blockchain security threat tracking platform pointed out that the respective hack took place last week in just one day. The stolen crypto accounts for the amount of up to $4M. Just on the 25th of this month, more than twenty-five crypto investors witnessed the drainage of nearly $4.4 million. The investigator claimed that this whole activity was a result of the LastPass hack.
Just on October 25, 2023 alone another ~$4.4M was drained from 25+ victims as a result of the LastPass hack.— ZachXBT (@zachxbt) October 27, 2023
Cannot stress this enough, if you believe you may have ever stored your seed phrase or keys in LastPass migrate your crypto assets immediately. pic.twitter.com/26HsxrlnCb
It is noteworthy that the respective exploit aiming at the twenty-five clients emerged almost a year following the LastPass exploit. The company admitted that the hack took place back in December 2022. As the security expert disclosed, the victims of the respective exploit are the longstanding clients of LastPass. They also include the people who reportedly have utilized the password manager.
The investigator brought to the front that above eighty distinct cryptocurrency wallets went through the exploit in the exclusive target. The blockchain security professional has cautioned cryptocurrency investors against the provision of sensitive information related to their crypto portfolio.
Blockchain Security Expert Cautions Against Entrusting Crucial Personal Information to 3rd Parties
Apart from that, ZachXBT said that people should not entrust mnemonic phrases and other such things to 3rd-party services. As the investigator recommended, crypto investors who had provided this type of information already should transact their holdings in cryptocurrency to a new wallet. With this, they can potentially circumvent such a mishap in the future.
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