Cyprus Police Hunt Crypto Thieves After $448K Email Heist – Digital Assets Under Scrutiny

Cyprus authorities are scrambling to trace $448,000 in stolen crypto after a brazen email hack exposed critical security gaps. The incident highlights both the vulnerabilities of centralized communication channels and the irreversible nature of blockchain transactions.

While traditional finance would freeze such transfers, crypto's decentralized nature turns theft into a forensic race against time. Yet another reminder: self-custody beats trusting third-party platforms.

Funny how the 'unhackable' crypto ecosystem keeps getting hacked through the same old email scams we've seen since the 1990s. Maybe Web3 needs to solve Web1 problems first?

Cyprus police are investigating the theft of over $448,000 in cryptocurrency from a 48-year-old man’s digital wallet. The cyberattack, reported on July 26, occurred after hackers accessed the victim’s email and used it to obtain the wallet password on June 11. The stolen funds were swiftly moved to another wallet, prompting police to warn that recovery will be extremely difficult. Authorities urge crypto users to adopt strong passwords and two-factor authentication for better security