The theft of private keys — the fundamental “passwords” to crypto wallets — is no longer the domain of lone hackers. According to a new report from GK8, part of Galaxy Digital, it has evolved into a profitable, highly organized and technologically advanced business. And it affects even users who hold only small amounts of cryptocurrency.

Theft has turned into a commercial model

In its Monday report, GK8 describes how private-key theft has shifted to the level of professional cybercrime. The dark web is filled with tools that automatically detect and steal seed phrases stored on computers, in cloud services or even in chat histories. These programs can scan thousands of files within seconds to locate the most valuable asset — access to a wallet.

According to GK8, attackers buy software capable of reconstructing entire private keys from stolen data. These tools sell for hundreds of dollars and enable thieves to gain control over bitcoin, ether and other assets with minimal effort.

It all starts with an infected device

Most attacks follow a similar pattern. An attacker slips stealthy malware into a victim’s device. It silently copies documents, images, clipboard content and chat logs. The hacker then feeds the data into specialized software that identifies seed phrases and other sensitive information. If the program detects a wallet holding more crypto, an empty balance is only a matter of time.

Analytics firm Kela warns that macOS users are increasingly being targeted. Infostealer activity is “peaking in 2025,” challenging the long-standing belief that Apple devices are inherently safer.

How users can protect themselves

GK8 advises crypto users to assume that any digital data may be compromised. Seed phrases should never be stored in documents, cloud drives, email or phone notes. The safest method is physical storage — paper or metal — which cannot be stolen remotely.

Caution is essential when installing software, opening attachments or clicking ads. Kela notes that most attacks begin with social engineering, where malicious apps disguise themselves as legitimate updates or trusted tools.

Strong and unique passwords, two-factor authentication, regular updates and dividing storage into hot, cold and offline vaults can significantly reduce risks. This ensures that even a breach won’t compromise an entire cryptocurrency portfolio.

Why this matters to everyday crypto users

Once cyberattacks become an organized industry, both their speed and sophistication increase. A private key is direct ownership of a digital asset — whoever holds it controls the funds. Even a small mistake, such as storing a seed phrase on a computer, can have severe consequences.

As more people enter the world of cryptocurrencies and price volatility rises, wallet security becomes essential to protect investments. Professional thieves don’t offer second chances.

Sources:

https://www.gk8.io/research/your-cryptos-not-as-safe-as-you-think-how-modern-hackers-hunt-private-keys/

https://www.kelacyber.com/blog/the-rise-of-macos-infostealers-tactics-trends-defenses/