Coinspect Reveals Wallet Vulnerabilities Since 2018; Suspected Theft of $3.14 Million from Related Wallets Last Month

Odaily reports that according to monitoring by Coinspect Security, by analyzing crypto wallet seeds generated using insecure code since 2018, it was discovered that thousands of seeds have been used in practice. In the past month alone, $3.14 million in suspected stolen funds was identified in related wallets. Coinspect Security stated that some funds exhibited patterns of being consolidated into a single address and money laundering. One affected address transferred out another $2 million just hours after the alert was issued, and it remains unclear whether this was part of the theft. Additionally, Coinspect Security issued a special warning to the Chinese-speaking community, indicating that many users whose assets may still be at risk are likely located in China.