A hacking group out of China has been identified using a rather low-tech yet effective way to steal money from Web3 wallets: distributing altered versions that have holes programmed into them. The Chinese hackers cloned the distribution sites of legitimate wallets, tricking users into downloading a compromised version. Researchers with digital advertising security firm Confiant spotted and tracked the threat actor’s activity, and characterizes it as a “highly sophisticated” operation. The Chinese hackers are primarily targeting searches for a specific group of Web3 wallets and are focused on iOS and Android users. Chinese hackers post clones of wallets, presentation and…