Someone Drained Your Exchange Account? ’s Your Emergency Playbook
Hackers can drain your crypto exchange account by gaining unauthorized access to your password or login credentials. This often happens through phishing links or malware that secretly steals your login credentials.
Attackers may also exploit weak passwords, reused credentials from data breaches or SIM swaps to bypass two-factor authentication (2FA). Once they gain access, they transfer funds to anonymous wallets, often routing them through mixers or decentralized exchanges to hide their tracks.
If you log in to your crypto exchange account and find your assets gone, it can be terrifying. In crypto trading, having your exchange account drained is the worst-case scenario. When it happens, it’s not the time to blame yourself. You need to respond quickly and think clearly.
This article walks you through the essential steps to secure any remaining funds, start tracking the stolen crypto and prepare a formal report.
To block any further access to your exchange account by scammers, you need to secure all access points. Start by changing your exchange password using a secure, uncompromised device.
Cancel all API keys associated with trading bots or external tools, as these may allow unauthorized access. Disconnect any linked wallets or third-party services.
Enable or update 2FA to strengthen your account security and prevent additional logins. Finally, contact the exchange’s official support through verified channels. Avoid responding to unsolicited messages or links, as fraudsters often impersonate support staff in such cases.
After securing your account, start recording every detail of the incident. Capture screenshots of suspicious transactions, wallet addresses and any correspondence with support staff.
Download your full transaction history, withdrawal records and login logs before they can be altered or deleted. Keep all relevant email and SMS notifications, including those for password changes, failed logins or withdrawals.
Organizing this evidence will help you and investigators trace the attacker’s actions. These records are crucial for recovery claims with the exchange, insurance filings or reports to the police and cybercrime authorities. The more precise your documentation, the easier it will be for officials or blockchain analysts to link wallets, identify patterns and support your efforts to recover the stolen funds.
Source: CoinTelegraph
