How an Apple iCloud Exploit Lost a Crypto Trader Over $650K
An Apple user lost hundreds of thousands of dollars in cryptocurrency and non-fungible tokens (NFTs)
After an iCloud backup compromised the seed phrase used to access the digital wallet.
A setting in MetaMask, a cryptocurrency wallet, that uploaded data backups to iCloud compromised the seed phrase required to access the wallet.
Many people use the company's cloud service for a variety of reasons like music, videos, games, and more
Dominic Iacovone, a MetaMask user who also enabled iCloud backups
Claims to have lost more than $650,000 in digital assets in a scam chronicled on Twitter.
MetaMask is a cryptocurrency and NFT wallet, which holds digital assets, and is most popular for storing Ethereum
Domenic Iacovone received an unusual phone call from Apple on Friday night
He'd received several messages asking him to reset his Apple ID password, and so suspected the caller of being a scam
But the call came through on his iPhone as Apple Inc., with a number associated with Apple's online store, so rang back.
The person on the other side of the phone said Iacovone's account had been compromised
That they needed the one-time code Apple sent to his iPhone to ensure he was the account's owner.
Iacovone gave it to them. Two seconds later, he recounted in a Twitter thread, that his crypto wallet was wiped dry.
An estimated $650,000-worth of cryptocurrencies and NFTs were gone in an instant.