While you can earn a lot from investing in crypto assets, there are also risks you’ll have to manage if you are to protect your earnings. Security lapses give hackers opportunities to loot people’s assets. What to do if your Metamask wallet gets hacked? You’ll find out in this post.
More than 20 million people around the world store and safeguard their cryptocurrencies in Metamast wallets. This makes it a major target for thieves.
If you check your wallet one day and discover that unsanctioned withdrawals were made from your account, it's likely that you have been hacked. This post is about the steps you should take when notice that your MetaMask wallet has been hacked, and how to prevent its recurrence.
My MetaMask Just Got Hacked
If you realize that hackers have gained access to your Metamask account or suspect attempts to hack into it, your response must be rapid.
Your main priority and the first step you should take is to protect your remaining investment from the attackers. Reach out to the MetaMask support team immediately and inform them that you suspect you have been hacked.
How do you secure your remaining funds?
You have to transfer all of them out of the compromised wallet to a secure one if you have more than one wallet. You must create an alternative wallet if you don't already have one.
The new wallet could be another MetaMask account or a different wallet entirely like a Trust wallet. The new account or wallet must be created with an email account different from the one you used to create the compromised wallet.
This is because your attackers could have accessed your wallet from security lapses in your email.
Besides using a fresh email account, you must use a different device from the one that got hacked. This is because some hackers gain access to your device and wallet by tricking you into installing malware. They then use this to get information about your login details and seed phrases.
If you use the same device despite the malware it is injected with, the subsequent accounts you'll create will remain vulnerable to hackers. The malware/spyware they've embedded in your device will still detect the login details of the new accounts you create, and then serve the data to the hackers. And the cycle continues.
To clean your device and prevent future attacks, you'll need to use an efficient malware cleaner to rid your system of the injected malware. Don't use the most common free antivirus software for this as they aren't capable of mitigating these threats.
Just invest some money in a premium malware cleaner to wipe your system of this harmful software.
After you've created a new MetaMask account, using a new email, in either a fresh device or a device already cleaned of all malware, move your remaining funds from the old account to the new one. This will protect you from losing everything.
If you're unlucky and the hackers have changed the login details of the old account and lock you out, then your funds are gone for good and the probability of regaining them is negligible.
After moving your funds out of the compromised account, do not use it again.
The Bitter Truth About a MetaMask Hack
One unpleasant fact about crypto wallet hacks, including MetaMask, is that it is almost impossible to recover stolen funds.
One of MetaMask's disclaimers is the warning that "transactions cannot be reversed".
Even if it is confirmed that indeed you were hacked, the funds cannot be recovered. And they make it clear that they can't be held liable if your account is hacked.
Taking safety measures like moving out the remaining funds, if any, might not return your stolen investment, but it will save you from further exploitation. However, you can provide adequate information to MetaMask support to see if your funds can be tracked.
Since a hack or cyberattack is basically an unauthorized person gaining access to your wallet and making withdrawals you did not approve, at least you can track the destination of your funds.
Informing MetaMask will enable them to check the details of the receiving account in their database and block further attempts of the attackers to repeat similar withdrawals in the future.
Measures you can take to protect your cryptocurrency investments.
There are many wolves in the crypto space, ready to pounce on privacy breaches to empty people's wallets. Protecting your privacy details must be prioritized so that a random criminal won't gain access to your wallet.
Here are some of the steps you can take to maintain the security of your crypto wallets:
- Never share your MetaMask wallet information with anyone or any organization. This includes the username and password you use, the email account connected to it, or the seed phrase for the device. (Seed phrase is a secret group of words used to log in and recover accounts ).
- Change your password occasionally. Ensure you do not use a password you use for other apps or passwords related to your name or date of birth, which can easily be guessed.
- Never use the MetaMask app or website while connected to public WiFi or other unsecured networks. This makes it susceptible to malware attacks and hacking.
- Don't use someone else's device to log into your MetaMask, or let others log in with your device.
- When you are not actively using the app, remember to log out so another person doesn't gain access to it.
- If you use Chrome or any other browsers' s extension for accessing your MetaMask account, remember to delete your browsing history and to clear your cache.
These precautionary measures are easy to understand but a lot of people fail to follow them. You don't always need high-tech solutions to protect your account. Following these simple safety rules will keep your wallet safe.
Advanced Tips to Prevent Being Hacked Again
While we can always try our best to protect our digital wallet and safeguard our investment, there is still a possibility of fraudsters gaining access to it. Below are measures and precautions recommended by MetaMask for keeping your wallet safe:
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No MetaMask member of staff or admin will send you a message first, or initiate a conversation. Any unsolicited message from someone claiming to be a MetaMask staff member should be treated with caution. Don't respond carelessly, or not at all. Some types of spyware gain access to your wallet when you respond to their messages.
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If you're browsing and you see a pop-up on your screen requesting for your sensitive information like password or seed phrase, ignore it and close the tab. This private information must never be shared with anyone. There is no MetaMask admin that will require you to visit another website or redirect you to another website where they prompt you to download another app that requires your seed phrase. If this happens, someone is trying to hack your wallet.
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When MetaMask communicates with its users concerning software or security updates, their emails follow recognizable templates. The email domain is "metamask.io" and must be visible in the sender's address. If the message comes from a different domain asking you to download a file or click some buttons, NEVER click on it as it might be a phishing link. Just delete the email.
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One of the most common scopes used by crypto scammers is to ask you to send funds to a wallet's address, so you can receive more funds. Do not get greedy and follow their advice, just report to MetaMask admin and then delete. This type of scam often works on greedy people who want to send small funds and receive more.
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The paranoid survive. If a deal or proposition sounds too good to be true, it probably is. Scammers often trap their victims by proposing returns with high yields and zero risks. Ask yourself if this is possible. Always question people's motives, skepticism is a protective shield in this industry. If you don't know why you are receiving a message, it might be a scam attempt.
Always be security conscious about your crypto assets.
Whenever you use crypto apps, follow the established security protocol religiously. The more consistently you do this, the lower the risk of your getting scammed.
Some might be in a rush to complete a crypto task and then cut corners which leaves openings for fraudsters to exploit. Don't be like that.
If you have any other security tips, or updates you'd want to share, drop them in the comment section.