In an advanced report, the founder of Ordinal Rugs regretted that the hackers compromised the Bitcoin Rock Discord server, draining assets worth millions. The March 26 report demonstrated that the hackers escaped with $1.47 Bitcoin, 4 BTC,$103 003, and $208,196 Ordinal inscriptions.

The bullish outlook in the crypto sector has encouraged investors to buy and sell Bitcoin to maximize returns actively.

Hackers Focus on Exploiting Bitcoin Hot Wallets

The increased Bitcoin investment has challenged the hackers to focus on BTC-related projects. At the moment Ordinals have emerged as popular assets in digital collectibles.

According to Dune Analytics, around 63 million inscriptions have been minted within Bitcoin at a fee of 63388 BTC. A statement from the founder of Archon stated that despite being an active investor for nearly a decade, this was the first time he suffered measurable losses from an exploit.

The disgraced crypto investor lamented that he has been careless despite implementing adequate security measures. He admitted that all his logins are authenticated with Yubikeys to ensure adequate security.

Reflecting on the March 26 incident, Archon confirmed that the hackers had shared a free giveaway for Runestones Ordinals on the Bitcoin Rock Discord. Archon connected his wallet to the suspicious site to claim the giveaways and signed a transaction.

He lamented that he discovered it was a trap after noting that the hackers stole some non-fungible tokens (NFTs) from his wallet. Also, the criminals used Archon’s stolen inscriptions of 53,109,400 to pay for transaction charges.

The troubled crypto investor admitted the attack had minimal impact on his accounts, login, and funds stored on the Ordinal Rugs.

Rise of Cyber Attack

Also, Archon confessed to using a hardware+ multi-sig wallet to strengthen the security of crypto assets. The increase in cyber attack incidents has recently forced traders to diversify their investment portfolios.

The quest to address data and privacy concerns has challenged investors to explore safe and secure approaches for trading their crypto assets. With the ongoing development of artificial intelligence (AI), investors prefer encrypted trading bots such as the AI Definity 1000 Platform to execute their trades.

Unlike other trading strategies, the AI trading bot utilizes advanced encryption to safeguard user information. With the advent of AI trading bots, the key industry players have changed their trading tactics to generate sizable returns.

In a recent report, the hackers shifted their focus to Ethereum and Solana networks due to deficiencies in the security measures.

Digital Wallets Lacks Adequate Security Measures

In an earlier report, the chief operating officer at Hallborn, David Schwed, stated that some cyber attacks were preventable.

He argued that the mistakes made by developers will be witnessed when the crypto ecosystem attains maturity. The executive blamed the investors and businesses for failing to conduct due diligence checks before and after investing in crypto. He argued that fear of missing out (FOMO) has exposed the customers to cyber attacks.

In his statement, Shred urged investors to be hyper-vigilant when investing in crypto assets. He also advised implementing preventive measures such as double-checking the website URLs and investing in advanced plugins for identifying fake domains.

Schwed advised the investors to utilize the browser extension network to block the suspicious domains. Moreover, the executive urged the developers to create wallets with adequate security standards.

He noted that some digital wallets lack security features, enabling developers to gain unauthorized access to the platform.