BitsLab’s ScaleBit flags 'alarming' Uniswap Wallet vulnerability
ScaleBit has identified a vulnerability in Uniswap's Web3 wallets that could allow attackers with physical access to bypass authentication and retrieve the wallet's mnemonic phrase. This phrase, typically 12 to 24 words, provides full control over the wallet's assets. The vulnerability persists in the latest app version, enabling access to the mnemonic phrase in under three minutes from an unlocked device. Users are advised to refrain from lending devices until a fix is implemented. In 2024, cryptocurrency losses due to cybersecurity exploits rose 40% to approximately $2.3 billion, with mnemonic phrase compromises being a common breach. However, losses from scams and hacks decreased significantly in December 2024, with reported losses of $28.6 million compared to higher amounts in previous months.
