How to Recover Stolen Cryptocurrency from MetaMask [2024]

by Dec 10, 2023Blockchain Technology0 comments

Have you heard of MetaMask? It’s a cool app and browser extension that helps you manage your digital money, like Ethereum, Bitcoin, and other types of digital coins. You can also use MetaMask to do other things, like use special apps and make smart agreements on different blockchain networks. But, there are some risks with using MetaMask. You’re the only one who can get into your wallet and money by using a secret recovery phrase. This phrase is like a super special password that only you should know. Bad people might try to pretend to be MetaMask and trick you into giving them your recovery phrase or even stealing your money. If that happens, don’t worry! We’ll show you how to recover stolen Cryptocurrency and give you some tips on how to avoid this trouble in the future. 

How do Hackers Hack MetaMask Wallet?

1. Phishing attacks 

 Phishing attacks

Hackers create fake websites or apps that look like MetaMask or other legitimate platforms and trick the user into entering their secret recovery phrase or other sensitive information. For example, the user may receive an email or a message that claims to be from MetaMask and asks them to verify their account or update their wallet by clicking on a link. The link leads to a cloned website that looks like MetaMask but is actually controlled by the hacker. The user then enters their secret recovery phrase or other sensitive information on the fake website and the hacker steals it.

2. Fake hardware wallets 

Hackers target users who already have a hardware wallet and trick them into using a modified replacement that is designed to steal their secret recovery phrase. For example, the user may receive a package with a fake hardware wallet that looks like the original one. The package may also include a note that warns the user that their current device is vulnerable and needs to be replaced with the delivered one. The fake hardware wallet may have instructions that ask the user to plug it into a computer and enter their secret recovery phrase. The user then enters their secret recovery phrase on the fake device and the hacker steals it.

3. SMS 2FA verification exploits 

SMS 2FA verification exploits

Hackers exploit the weakness of SMS-based two-factor authentication (2FA) by intercepting or redirecting the verification messages. For example, the hacker may use a technique called SIM swapping, which involves transferring the user’s phone number to a new SIM card that is controlled by the hacker. The hacker then requests a password reset or a login verification from MetaMask or other platforms and receives the SMS verification code on their phone. The hacker then uses the code to access the user’s account and funds.

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4. Malware or spyware

Hackers infect the user’s computer or device with malicious software that can monitor their keystrokes, screen activity, clipboard content, browser history, etc. For example, the user may download a file or an app that contains malware or spyware that runs in the background and records their secret recovery phrase or other sensitive information when they use MetaMask or other platforms. The hacker then accesses the recorded information and uses it to access the user’s wallet and funds.

5. Fake or fraudulent projects or platforms

Hackers create fake or fraudulent projects or platforms that promise high returns or rewards for investing in crypto but end up stealing the user’s funds. For example, the user may encounter an advertisement or a recommendation for a new crypto project or platform that claims to offer high profits or incentives for joining. The user then signs up for the project or platform and deposits their crypto funds. The hacker then runs away with the funds or locks them in a smart contract that requires more funds to unlock.

6. Smart contracts with unlimited access

Hackers exploit smart contracts that have unlimited access to the user’s funds by draining them without their consent. For example, the user may interact with a dApp or a platform that uses a smart contract to perform certain functions such as swapping tokens, lending or borrowing crypto, etc. The user may approve the smart contract to access their funds without checking its permissions or source code. The hacker then triggers the smart contract to transfer all of the user’s funds to their own address.

7. Fake MetaMask extensions

Hackers create fake MetaMask extensions that look like the original one but are actually designed to steal the user’s secret recovery phrase or other sensitive information. For example, the user may search for MetaMask on Google and click on a link that leads to a fake MetaMask extension page on Chrome Web Store or other platforms. The user then installs the fake extension and enters their secret recovery phrase or other sensitive information on it. The hacker then steals it and uses it to access the user’s wallet and funds.

How to Prevent and Avoid Crypto Scams and Hacks

While recovering stolen crypto from MetaMask is possible in some cases, it is always better to prevent and avoid such situations in the first place. Here are some tips on how to prevent and avoid crypto scams and hacks:

Tips to Prevent and Avoid Crypto Scams and Hacks
1. Never share your secret recovery phrase with anyone or enter it on any website or app.
2. Use a strong password and enable two-factor authentication (2FA) for your MetaMask account.
3. Check the URL and the SSL certificate of the website or app that you are using.
4. Verify the address and the amount of the recipient before sending any crypto.
5. Be careful of unsolicited offers, messages, or calls that ask you for your secret recovery phrase or other sensitive information.
6. Do your own research and due diligence before investing in any crypto project or platform.

These tips can help you prevent and avoid crypto scams and hacks. By following them, you can keep your digital assets safe and secure. Remember to always be cautious and vigilant when using MetaMask or any other crypto-related platform.

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How to Recover Stolen Cryptocurrency from MetaMask

Step 1: Install MetaMask on another browser or device

How to Recover Stolen Cryptocurrency from MetaMask

The first step to recover stolen crypto from MetaMask is to install MetaMask on another browser or device that is not compromised by the attacker. For example, if you use MetaMask on Chrome on your laptop, you can install MetaMask on Firefox on your desktop or on your mobile phone. This way, you can create a new MetaMask wallet that is not linked to the old one that was hacked or scammed. To install MetaMask on another browser or device, follow these instructions:

  1. Go to https://metamask.io/download and choose the browser or device that you want to install MetaMask.
  2.  Follow the instructions on the screen to download and install MetaMask.
  3. Open MetaMask and click on “Create a Wallet”.
  4. Choose a password and agree to the terms of use.
  5. Write down your secret recovery phrase in the correct order and store it in a safe place. Never share it with anyone or enter it on any website or app.
  6. Confirm your secret recovery phrase by selecting the words in the correct order.

You have successfully installed MetaMask on another browser or device and created a new wallet.

Step 2: Send any remaining funds from the old wallet to the new wallet

How to Recover Stolen Cryptocurrency from MetaMask

The next step to recover stolen Cryptocurrency from a lost MetaMask wallet is to send any remaining funds from the old wallet that was hacked or scammed to the new wallet that you just created. This way, you can salvage some of your funds before they are completely drained by the attacker. To send funds from the old wallet to the new wallet, follow these instructions:

  1. Open MetaMask on the browser or device where you have the old wallet that was hacked or scammed.
  2. Click on “Send” and enter the address of the new wallet that you just created on another browser or device. You can find the address by clicking on “Account Details” on the new wallet.
  3. Enter the amount of crypto that you want to send and click on “Next”.
  4. Review the transaction details and click on “Confirm”.
  5. Wait for the transaction to be confirmed by the network.

You have successfully sent some of your funds from the old wallet to the new wallet.

Step 3: Discontinue using the old wallet and report the scam

The final step to recover stolen crypto from MetaMask is to discontinue using the old wallet that was hacked or scammed and report the scam to the relevant authorities. You should never use the old wallet again as it is compromised by the attacker who has access to your secret recovery phrase and funds. You should also report the scam to MetaMask support and other authorities such as law enforcement agencies, cybercrime units, consumer protection agencies, etc. To discontinue using the old wallet and report the scam, follow these instructions:

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How to Recover Stolen Cryptocurrency from MetaMask
  1. Delete MetaMask from the browser or device where you have the old wallet that was hacked or scammed.
  2. Contact MetaMask support at https://support.metamask.io/hc/en-us/requests/new and let them know that someone stole your crypto from your wallet. Provide them with as much information as possible such as your wallet address, transaction details, screenshots, etc.
  3. Contact the relevant authorities in your jurisdiction and report the scam. Provide them with the same information that you provided to MetaMask support and any other evidence that you have.
  4. Follow up with MetaMask support and the authorities until you get a resolution or compensation for your loss.

You have successfully discontinued using the old wallet and reported the scam.

Conclusion

In this article, you learned how to recover stolen Cryptocurrency from MetaMask in case you become a victim of a scam or a hack. You also learned some tips on how to prevent and avoid such situations in the future. Taking a proactive and cautious approach to your crypto security can help you protect your wallet and funds from bad actors and scammers. We hope this article helped you find the best solution for your situation. If you have any questions or feedback, feel free to leave a comment below. Thank you for reading!

FAQ 

How do I install MetaMask on another browser or device?

To install MetaMask on another browser or device, go to https://metamask.io/download and choose the browser or device that you want to install MetaMask on. Follow the instructions on the screen to download and install MetaMask. Open MetaMask and create a new wallet by choosing a password and writing down your secret recovery phrase.

What are some common types of crypto scams and hacks?

Some common types of crypto scams and hacks are phishing websites or apps that look like MetaMask or other legitimate platforms and trick you into entering your secret recovery phrase or other sensitive information; fake hardware wallets that target users who already have a hardware wallet and trick them into using a modified replacement that is designed to steal their secret recovery phrase; SMS 2FA verification exploits that intercept or redirect the verification messages; malware or spyware that infects your computer or device and steals your secret recovery phrase or other sensitive information.
Fake or fraudulent projects or platforms that promise high returns or rewards for investing in crypto but end up stealing your funds or disappearing with your funds; smart contracts that have unlimited access to your funds or have hidden fees or risks; fake MetaMask extensions that look like the original one but are actually designed to steal your secret recovery phrase or other sensitive information.

What are some signs of a crypto scam or hack?

Some signs of a crypto scam or hack are unexpected transactions on your MetaMask account; requests for your secret recovery phrase or other sensitive information; offers that sound too good to be true; websites or apps that have spelling errors, broken links, or poor design; websites or apps that do not have a valid SSL certificate; projects or platforms that have no clear.

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