MyEtherWallet [MEW]: Most popular VPN service hacked again

MyEtherWallet [MEW], one of the most successful services on the internet for managing cryptocurrencies, has suffered a security breach yet again.

Source: Twitter

MyEtherWallet’s tweet | Source: Twitter

The company reported that Hola, a widely-used VPN service, was compromised for a period of five hours. Within these five hours, anyone who was active on Hola and was navigating to MEW to access their wallet with the VPN switched on would have been affected.

MEW suffered a similar incident in February 2018, when they were affected by a DNS attack which resulted in $365,000 worth of cryptocurrency being stolen from users.

While the breach impacted the VPN users, MEW users were not affected because the MEW service itself was not compromised. The company has urged the users who can still access their wallets to transfer their tokens to a new wallet immediately.

MyEtherWallet's tweet | Source: Twitter

MyEtherWallet’s tweet | Source: Twitter

MyEtherWallet is different from any standard web wallet. Unlike other wallets wherein users create an account and store their Ether on their servers, MyEtherWallet allows users to create a wallet directly. The wallet enables users to store and broadcast the transactions they have made on the blockchain through their full node.

The company reported that the attack seems to have been from a Russian-based IP address.

While Hola has not commented on the issue so far, MEW stated that they prioritize the safety and security of MEW users greatly. They said: 

“We’d like to remind our users that we do not hold their personal data, including passwords so they can be assured that the hackers would not get their hands on that information if they have not interacted with the Hola chrome extension in the past day.”

So far, there have been no specifications about the number of users that have been affected by the breach.

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