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Bitcoin Scam Drains $220K from Sass Mining

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Manage episode 519965292 series 3638443
Content provided by Dailin Schafer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dailin Schafer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In this episode, we break down how a sophisticated “mining as a service” con convinced Sass Mining’s CEO to move $220,000 in Bitcoin into a compromised wallet, and how the attackers used seed phrase theft and automated sweepers to launder the stolen funds across multiple addresses and exchanges. We then unpack the red flags in the scam and the hard security lessons for anyone in crypto, from guarding seed phrases and avoiding high-pressure investment pitches to understanding how hard it is to recover funds once they’re gone.

Get the top 40+ AI Models for $20 at AI Box: ⁠⁠https://aibox.ai

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

395 episodes

Artwork
iconShare
 
Manage episode 519965292 series 3638443
Content provided by Dailin Schafer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dailin Schafer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In this episode, we break down how a sophisticated “mining as a service” con convinced Sass Mining’s CEO to move $220,000 in Bitcoin into a compromised wallet, and how the attackers used seed phrase theft and automated sweepers to launder the stolen funds across multiple addresses and exchanges. We then unpack the red flags in the scam and the hard security lessons for anyone in crypto, from guarding seed phrases and avoiding high-pressure investment pitches to understanding how hard it is to recover funds once they’re gone.

Get the top 40+ AI Models for $20 at AI Box: ⁠⁠https://aibox.ai

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

395 episodes

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