Shadowy Super Hackers Want Your Stacks; What to Watch out For.

How Not To Lose Your Coins

Immutability is one of the features that attract people to blockchain technology. People who want to benefit from decentralization and unrestricted transfers are also pulled towards cryptocurrencies. However, cases of crypto theft are also rampant, and some have termed cryptocurrencies as ‘unsafe’.

Not too long ago, hackers stole cryptocurrencies worth $600m (£433m) in what has been described as the biggest crypto heist in history so far. In a statement sent out by Poly Network, the hackers exploited a smart contract vulnerability in its system and made away with the money. This is not the only isolated case, as individuals have also recently reported crypto theft from their wallets. To better understand how crypto theft occurs, we must analyze how public keys, private keys, and seed phrases work: