Algorand Wallet Myalgo warns user to withdraw funds after an exploit of $ 9.6 million
Algorand Wallet Myalgo warns user to withdraw funds after an exploit of $ 9.6 million
The Wallet provider Myalgo based on Algorand has warned the users to withdraw assets from all wallets that were created with a mnemonic phrase, while the company continues to examine an exploit that led to a loss of $ 10 million.
The wallet provider on 26. February and warned User that "a targeted attack against a group of top-class myalgo accounts was carried out".
Myalgo asks users to withdraw money
Myalgo further explained that the attacked users had significant amounts of assets on their accounts and used mnemonic hot wallets with private keys stored in the browser. The exploit had no impact on hardware wallet users, added the team.
The wallet provider said he was working with those affected and authorities to examine the incident. In a Monday update, however, the team urgently advised all users to transfer funds from seed phrase wallets that are stored in Myalgo because it still does not know the cause of the hacks.
Important: ⚠️We advise all users urgently to lift funds from mnemonic wallets stored in Myalgo. Since we still do not know the real cause of the latest hacks, we recommend taking precautionary measures to protect your assets. Thanks for your understanding.
- Myalgo (@Myalgo_) 27. February 2023
over 9 million dollars stolen
According to the blockchain investigator ZachxBT, the hacker stole 19.5 million ALGO and 3.5 million USDC worth $ 9.6 million from the victims.
The centralized CHANGENOW stock exchange was able to freeze $ 1.5 million of the stolen funds after the attacker tried to wash the assets via the platform.
I have not yet seen many posts about it, but it is believed that as a result of this attack from 19 to 21 February over $ 9.2 million (19.5 million algo, 3.5 million USDC etc.) were stolen on Algorand.
Changenow announced that they could freeze $ 1.5 million. https://t.co/bpcxtud57n . February 2023
Algorands Chief Technology Officer John Wood noted The incident 25 Wallets concerned, while it was clarified that the exploit was not caused by an "underlying problem with the algorand network or SDK".
The CTO explained that it would turn an explanatory video in which the exploit has happened and how users can protect themselves as soon as the examination is complete.
.
Kommentare (0)