Crypto Executive Loses $450,000 Due To WiFi Vulnerability

According to BlockBeats, a former CEO of a cryptocurrency project lost $450,000 after connecting to his 'best friend's' WiFi. This incident highlights a new crime trend known as 'intimate crime,' as identified by an anti-money laundering company. The executive, Tom, had previously left a cryptocurrency company and sold his shares for $500,000. His friend rented a property to Tom while pretending to be unaware of the WiFi vulnerability. One night, Tom's phone got water-damaged during a rainstorm. When he managed to get his phone working again and re-entered his mnemonic phrase, he discovered that his life savings were gone. An investigation revealed that Tom's friend had stolen his funds through the compromised WiFi network. The anti-money laundering company reported seven similar cases in the past three months. These cases included incidents where 13 Bitcoins were stolen by a victim's girlfriend and $300,000 was taken by a victim's brother, with the perpetrators exploiting their close relationships. Security experts recommend using common security measures like two-factor authentication and avoiding public WiFi networks when accessing cryptocurrency websites or wallets.