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Crypto trader lost $6.5 million in 2 seconds

Domenic Lacovone, a crypto trader, has revealed that he lost $6.5 million after scammers hacked into his iCloud account. Surprisingly, it only took two seconds. Lacovone has told about this scam on Twitter. The scam started with a phone call that seemed to be from Apple, the American company that made the iPhone. Lacovone suspected it to be a fraud and ignored it. However, being Apple’s number, they decided to call it.

“They asked for a code that was sent to my phone and after two seconds my entire MetaMask was gone,” Lacovone said. Lacovone had a lot of cryptocurrencies and non-fungible tokens (NFTs) in the digital wallet app MetaMask. Little did they know that MetaMask automatically stored a 12-digit ‘seed phrase’ file on iCloud from their iPhone. After the scammers got access to their iCloud, they swiped it and emptied Lacovone’s account. The seed phrase is important for accessing a crypto wallet and should not be shared with anyone.

In this regard, Lacovone has sought help from the online community and has also offered a reward of one million dollars to anyone who helps in the recovery of its digital assets. The New York Post quoted Lacovone said, “Don’t tell us not to store our seed phrases digitally and then do so without our knowledge. If 90 percent of people knew about it, I can say with certainty that none of those apps or Doesn’t keep iCloud on.” He is also targeting MetaMask. He has asked the users to expose this firm.

MetaMask has yet to comment on the incident. However, the firm has advised users by tweeting. The tweet states that iCloud backup includes a user’s password-encrypted MetaMask Vault and can be turned off by disabling iCloud backup. Linked to crypto in recent months scam cases have increased. People have suffered heavy losses in these.

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