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MetaMask Wallet Discovers Critical Security Vulnerability

Scam Alert: MetaMask Wallet Discovers Critical Security Vulnerability

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Scams related to crypto wallet and gateway MetaMask are on the rise with developments including Ethereum Merge and Cardano’s Vasil hard fork. The hoax Twitter account “@MetaMaskUpdates” warned users about a critical security issue in the MetaMask protocol on Wednesday. It claims the security issue allows attackers to remove assets from any user’s wallet without a password or recovery clause. It also advised users to immediately update MetaMask to mitigate the issues and secure their funds.

MetaMask scam for critical security issue

The a scam Twitter account uses the name of MetaMask Wallet’s security project manager, Jen Luker, to warn users about a critical security issue facing the protocol. It claims that users who do not update the MetaMask app or web software may lose all funds in their MetaMask wallet.

The CoinGape team discovered that the fake Twitter account has 22.2k Twitter followers and retweeted several tweets from the original MetaMask Twitter account. There are security risks and typographical errors in the link mentioned on the Twitter account and website. The links on the pages have also been found to be broken. Users are advised to be vigilant.

It leads users to believe that MetaMask received over 50,000 individual complaints about stolen funds, coins and NFTs from their wallets. Users, including MetaMask employees, reported widespread violations of the MetaMask protocol.

“Earlier this month, we became aware of an exploit that allows bad actors to abuse MetaMask’s authentication protocol and remove all assets from users’ wallets without access to their password or recovery phrase.”

The scam also detailed how the attackers misused two functions in the MetaMask plugin code to delete the assets of MetaMask users. However, the security team has developed an update to fix this critical vulnerability. Because attackers are actively exploiting the issue, all users should update their MetaMask plugins immediately.

Scams are on the rise amid important cryptographic developments

Scams seem to have increased with Ethereum Merge and Cardano’s Vasil hard fork updates. Blockchain security platform PeckShieldAlert has also warned users about the MetaMask airdrop scam on September 22.

Recently, Indian crypto exchange CoinDCX Twitter account was compromised and abusers shared links to fraudulent XRP To give away. It happened as the XRP price skyrocketed on Ripple’s win amid rising positive sentiments about the SEC.

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge of Blockchain, cryptocurrencies, artificial intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a considerable period of time and currently covers all the latest updates and developments in the crypto industry.

The presented content may contain the author’s personal opinion and is subject to the market situation. Do market research before investing in cryptocurrencies. Neither the author nor the publication is responsible for your personal financial loss.



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