Co-founder Anatoly Yakovenko warns that phishing and social engineering represent the greatest threats to encrypted users, and recommends using a dedicated iOS device, enabling the Apple of Lockdown Mode, in conjunction with a multi-signature wallet, as a low-cost security setup.
Yakovenko stated in a post on X that the most urgent danger comes from deceiving people, 'not from AI cracking mathematics, nor from quantum computers.'
His comments came after two major security incidents occurred at major exchanges in succession. Binance stated that in the attack on October 29th, assets affected amounted to $6.34 billion; while Mercado Bitcoin suspended deposits and withdrawals after detecting an intrusion on November 2nd.
According to Binance, how to gain access to the wallet system by forging interviews
Binance's description of this attack indicates that it was a campaign that lasted for several months, involving employee deception, the development of malicious software, and the theft of credentials.
According to previous reports by crypto.news, some of the intrusions at this exchange can be traced back to a fake recruitment interview in September. An engineer was contacted through a legitimate recruitment platform and had an interview with someone who claimed to represent a fictitious company.
In this process, the engineer downloaded a job code repository to his work computer. Binance indicates that malicious code was executed during the installation process, and the legitimate pyenv development tools were replaced with an intruded version.
On October 20th, attackers utilized this infected computer and an internal AI tool to gain access to the computers of two wallet engineers. One of those computers contained deployment credentials, which were later used for wallet signature operations.
The exchange stated that the attackers utilized Ethereum's EIP-7702 feature to establish malicious permissions, which remained valid even after regular withdrawals were suspended. Previous investigations revealed that these permissions allowed the attackers to control a hot wallet named Binance with 14 coins.
Lockdown Mode Limiting the functions that attackers can exploit
Yakovenko Suggested device configuration: Combine Apple's existing security features with wallets that require multi-party approval.
Apple describes Lockdown Mode as an optional protection suitable for individuals who may face highly complex targeted attacks, including malware designed for espionage. Once enabled, it will restrict the functions of applications, websites, and devices in order to reduce potential entry points.
Most message attachment types will be blocked, and the links and link previews in Messages will also be unavailable. Certain web technologies will be restricted, and new configuration description files cannot be installed when this mode is enabled.
Apple It is recommended to update your device before enabling this feature. On iPhone, users can go to "Settings" and then find " Lockdown Mode "; enabling it will require a restart of the device.
The company reminds that excluding certain websites, applications, or contacts will reduce the level of protection. Ordinary telephone calls and plain-text text messages can still be used as normal.
Multi-signature wallets set separate approval requirements for transactions. Documentation for Squads indicates that it is possible to configure a threshold specifying how many members' approvals are required before a transaction can be executed. For example, a 2/3 mechanism requires at least 2 of the 3 signature keys to give their approval.
Thousands of Solana users have been affected as their personal wallets were stolen.
The theft research records of Chainalysis show that in 2025, there were a total of 158,000 incidents of personal wallet thefts, involving at least 80,000 individual victims.
The total loss amounted to 713 million US dollars, which is lower than the 1.5 billion US dollars in 2024, despite a higher number of incidents. Personal wallets were compromised, accounting for 20% of the value stolen in 2025.
Solana recorded approximately 26,500 victims, which is the highest absolute number among the chains analyzed. However, after adjusting for the number of active individual wallets, Chainalysis found that Solana and Base had lower victimization rates, while Ethereum and Tron had the highest victimization rates.
The institution stated that attacks on centralized services often target private key infrastructure and signing processes, including attempts to trick legitimate signers into authorizing malicious transactions.
Mercado Bitcoin Tracking Assets: US Authorities Warn of Deceptive Tactics
Following the Mercado Bitcoin incident, Tether CEO Paolo Ardoino confirmed that the stablecoin issuer has frozen $4.5 million USDT related to this intrusion.
The exchange stated that the incident has been brought under control, customers have not been affected, and no data breaches have occurred. Their team is tracking the assets and coordinating with authorities.
In the United States, the Federal Bureau of Investigation (FBI) mentioned in a warning issued on June 15 that cryptocurrency investment scams typically begin with unsolicited information, false professional identities, or romantic encounters. Victims are then led to trading apps and websites that display fake profits.
The organization advises people to independently verify unfamiliar contacts and to avoid clicking on links or attachments in unsolicited messages. Its reporting guidelines urge victims to keep communication records, details of the platform, as well as the addresses of cryptocurrency wallets used in the scam.
