Definition ∞ Wallet credential theft is the act of illegally obtaining the private keys, seed phrases, or login information necessary to access and control a cryptocurrency wallet. Attackers use various methods, including phishing, malware, keyloggers, or social engineering, to acquire these critical credentials. Once stolen, these credentials allow the perpetrator to transfer digital assets from the victim’s wallet to their own. It represents a direct attack on asset ownership.
Context ∞ Wallet credential theft is one of the most direct and damaging forms of cybercrime in the digital asset space, frequently reported in crypto news. Reports often detail the sophisticated techniques used by attackers and the substantial financial losses incurred by victims. Implementing multi-factor authentication, using hardware wallets, and exercising extreme caution with unsolicited communications are essential preventative measures. The ongoing battle against credential theft requires continuous security improvements and user education.
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