Cybersecurity experts reveal a scheme to hack a cryptocurrency wallet in one second

Cyber specialists from the IT company Unciphered have found a way to hack the OneKey hardware crypto wallet in one second. According to the experts on their YouTube channel, OneKey turned out to be vulnerable to intercepting a mnemonic phrase in an unencrypted form.

The wallet does not encrypt the data transmitted from the encrypted part to the central processor at all. By tampering with the wallet’s hardware, the analysts were able to deceive the device, forcing it to return to factory settings. As a result of this «reset,» the experts were able to intercept the wallet’s passphrase in a second, which allows the attacker to transfer cryptocurrency to any address without any problems.

According to Unciphered, the discovered exploit is extremely critical for the security of OneKey wallets. Probably, OneKey representatives do not think so, as they paid Unciphered experts only $ 10,000, which is considered a small amount for a vulnerability of this magnitude. However, OneKey founder Ishi Wang assured the crypto community that the developers have already prepared an update that will solve the problem.

A few days ago, it became known about an unusual story of cryptocurrency theft from the Trust Wallet. The attacker managed to steal about $ 4 million in USD Coin using a photo of the crypto wallet’s balance.