Blink wallet hacked

[AakZaki]

However, it’s always better to use an open-source noncustodial wallet like Electrum or just move forward with a hardware wallet that is also open-source. It’s not easy to trust any wallet with our funds unless it’s highly secured and tested.

I totally agree with you, I myself have never looked for any new wallet to store assets. Even regarding the existence of this Blink wallet, I have just heard about it, especially if it is a custodial wallet I must stay away from it.

Recently there has been a lot of buzz regarding Crypto wallet hacks, the last one I had with the news related to the hack was DCENT Wallet.
I think there's actually no reason to use an unpopular and untested wallet anymore, because it could be the next target for hackers.

[joniboini]

I think I only installed and tried a new wallet whenever there's a review campaign or bonus. Even then, I never store a lot of funds there. It's been so long since the last time I did that though.

 While the criteria of popular is unclear, at the very least I'll see if anyone has made a thread here before considering trying a new one. Most of them are multichain wallets too. Hopefully people will move away from closed source app sooner than later because of this. Otherwise we'll keep seeing news that a custodial service get hacked frequently.

[greysonz]

News and updates coming in about an hour ago or so indicates that the custodial side of blink wallet  was compromised and funds drained from a number of addresses and they had to pause the service.


Source: https://x.com/blinkbtc/status/2101290680584695956

The team claims that the self custodial wallets were not affected in the attack but it appears that even the self custodial wallets are not able to load/sync properly so users are not able to view balances according to some complaints

If you are one of the Blink wallet users, please check your accounts.

Blink Wallet reported full refunds for all affected users. Balances are consistent with those that occurred on September 19.



https://x.com/blinkbtc/status/2103167145572241648

[LuckyCrypto777]

So, Blink hack findings, by Blink X post-mortem:
None of the 24 accounts emptied had two-factor authentication enabled.
All affected customers have been fully compensated by Blink shareholders.

Reward:

Blink is now offering a recovery reward of 50% of the total amount, equivalent to approximately 3.3 BTC. Half of any recovered funds will be split between whoever provides information leading to recovery and the Bitcoin circle economy.

[logfiles]

Recently there has been a lot of buzz regarding Crypto wallet hacks, the last one I had with the news related to the hack was DCENT Wallet.

These hackers are becoming something else lol. I think most projects are just going to shut down at this rate.

The attacker also accessed details from 3,817 accounts, including some phone numbers and email addresses. Blink says no names, IDs, addresses, passwords or seed phrases were exposed.

I guess this is a lesson for people who opted to use a custodial wallet yet the self custodial option was there. Who know if what the blink folks are saying is true or not. if email addresses and phone numbers can be accessed, then the names, ID, passwords etc might have as well be accessed.

[Emjay24]

Those that are using custodial wallet, this will not be their last lesson. Despite it happened, people will still custodial means to hold coins. Many people prefer just to go the wrong way.

Several people don't like taking responsibility for their coins themselves, they see it as a hassle and risk paying the price when such things happens. I think people are now more comfortable using custodial wallets and CEXs since some platforms like Bitget, Bybit and Blink took the hit on behalf of their clients and always restores their balances after a hack, maybe the victims of the next hack may not be very lucky and they learn the hard way.