Additionally, someone recently attempted to phish billions linked to a Mt. Gox wallet. Billions! And they almost got away with it. This isn’t a boogeyman threat lurking in shadows of crypto discourse. This is happening right now. It's a stark reminder that the Wild West days of crypto aren't over, they've just evolved.

Are You a Target, Even Now?

To be clear, none of us are going to be sitting on 80,000 Bitcoin. But that doesn't mean you're safe. Think of it like this: a thief might target a mansion, but they'll still swipe your wallet if you leave it on the park bench. The Mt. Gox hackers, or their heirs, are such evolved thieves. They are not just primarily not going after rich wallets, they are going after all wallets.

According to the news, they were able to do this with a sophisticated spear phishing attack. Specifically, they leveraged the “OP_RETURN” function to inscribe a counterfeit URL. This URL turned into a Saloman Brothers phishing website embedded inside a Bitcoin move. Sounds technical, right? It is, but the concept is simple: they're using the Bitcoin network itself to trick you.

This seems like spam emails from a Nigerian Triple Crown winner, but supercharged and infused with crypto! The unexpected connection? Much like those historical scams preyed on people’s greed and naiveté, this newly popular scam preys on hope. At times, it preys upon their fear of cryptocurrency.

Phishing, Passwords & Your Future Wealth

So, what can you do? The usual advice applies: strong passwords, two-factor authentication, hardware wallets. Yada, yada, yada. You've heard it all before. Let's be real: are you actually doing it? Or is your approach sheer complacency, figuring that as long as crypto overall goes up, you’re doing enough?

Think about it. You might have better security on your Netflix account than your crypto wallet right now. Why? It’s because you perceive Netflix to be a good deal, something you’d be sad to give up. You have to stop treating your crypto any differently. No, more valuable. Because not being able to find your crypto could be a lot more heartbreaking than not being able to tune in to Stranger Things.

I’m not trying to be a financial advisor, I’m trying to be a realist.

  • Treat your crypto like cash. Would you leave thousands of dollars lying around in plain sight?
  • Question everything. If something seems too good to be true, or even slightly off, it probably is.
  • Educate yourself. Don't just blindly follow the latest hype. Understand the technology and the risks involved.

The Mt. Gox hack was a disaster. It was a wake-up call. Don’t allow this newest attack to be yet another wake-up call that you must stop treating your security as an afterthought.

Community: Our Best Line of Defense?

The only real defense against these sorts of attacks isn’t a patchwork of individual security measures. It's community awareness. We need to talk about this stuff. We have to support one another in recognizing these scams and preventing ourselves from becoming victims.

Imagine it as a community or neighborhood watch, only for crypto. Share this article. Engage your friends and family in conversations about crypto security. If you see something suspicious, report it.

The news that these hackers are still attempting to profit from the Mt. Gox debacle is maddening. It’s a pretty enormous slap in the face to all the folks who lost money in that disaster. So rather than sit back and sulk or get angry at Congress, use that anger to drive action. We can start by making it more difficult for these con artists to pull off their schemes. Together, we can build a stronger, more secure crypto community. And make sure your Bitcoin isn't next. Because your wealth is your future.