ZachXBT, a blockchain investigator, has discovered that malicious actors have been identified by the “LastPass threat actor,”The theft of approximately $5.36million in crypto currencies has been reported.
ZachXBT posted the following on December 17th, in his Telegram Channel:
“Today an estimated $5.36M was drained by the LastPass threat actor from 40+ victim addresses. Stolen funds were swapped for ETH and transferred to various instant exchanges from Ethereum to Bitcoin.”
The exploit can be traced back to the December 2022 breach of security, in which LastPass revealed that hackers accessed archived copies of encrypted vault information stored on third-party platforms. LastPass warned at the time that the breach could have exposed users’ vault data. This included usernames, secure notes, and passwords.
LastPass, on the other hand, assured its users that it would be difficult to brute force master passwords due to encryption protocols.
Recent attacks show that, despite this claim by hackers, they have targeted users who have stored private keys or seeds phrases within their LastPass vaults.
Now over $250 million has been lost
Security Alliance, a group of experts in cyber security, announced that losses resulting from the hack have exceeded $250,000,000 as of 2024.
According to SEAL, these attacks could have been prevented as many victims—despite practicing caution—unknowingly placed their digital assets at risk by relying on centralized storage for private keys.
SEAL said:
“Don’t be a part of the statistic. If you used LastPass in the past and think there’s a chance you stored your private key or seed phrase in your vault, take the time and move all your tokens [and] transfer ownership of any contracts/multisigs/etc.”
This incident, according to security experts, highlights the risks of entrusting password managers sensitive data related to cryptography. Crypto holders need to immediately protect their assets from similar vulnerabilities and safeguard them.
Posted In: Crime, Featured The Author 
Oluwapelumi Adejumo
Oluwapelumi believes in the potential of Bitcoin. He shares his insights and opinions on topics such as DeFi, Hacks, Mining, Culture, etc., highlighting the transformative power of Bitcoin.
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Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright hosts the SlateCast and is Editor-in chief at CryptoSlate. He thinks that technology decentralized has the ability to create positive and widespread change.
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