The crypto trader has appealed to the online community for assistance, even offering a $100,000 reward to anyone who can assist him in recovering the funds.
After hackers accessed his iCloud account, a crypto trader disclosed that he lost a huge $6,50,000 (Rs 4.97 crore). And that only took two seconds.
Domenic Lacovone, a trader, exposed the scam on Twitter. He claimed it all started with a phone call he mistook for one from Apple.
Lacovone Explains How It Happened.
Lacovone assumed it was a hoax and ignored it. He chose to call them back because it turned out to be an Apple number.
Domenic Lacovone tweets about crypto Fraud with him
“This is how it happened, Got a phone call from apple, literally from apple (on my caller Id) Called it back because I suspected fraud and it was an apple number. So I believed them,” Lacovone said in a tweet.
“They asked for a code that was sent to my phone and 2 seconds later my entire MetaMask was wiped,” he added.
The trader had a large number of valuable cryptocurrencies and non-fungible tokens (NFTs) in his MetaMask digital wallet.
He knew little about MetaMask automatically saving 12-digit “seed phrase” files from iPhone to iCloud. When the scammers gained access to his iCloud, they stole it and ran out of Lacovone’s account. The seed phrase is important for entering the crypto wallet and should not be shared with anyone.
Lacovone contacts the online community for help and offers a $ 100,000 reward to those who help him get his money back.
“Never save the seed phrase digitally and then save it behind the scenes. If 90% of people know, no one must have an app or iCloud turned on. “
He also targeted MetaMask and urged users to “publish” the company.
MetaMask hasn’t commented on the incident yet, but is angry and offers advice to users. The tweet states that iCloud backups include a MetaMask vault encrypted with the user’s password and is asked to turn it off by disabling iCloud backups.