MyEtherWallet, a popular digital wallet for storing ERC-20 tokens, is facing more threats from cyber-attacks than some of the world’s largest financial institutions, according to a report by Chepicap.

Cybersecurity firm Segasec claims that it is currently monitoring 2746 suspicious domains, and has thwarted 313 attacks related to the wallet since they were hired to help MEW improve its security. According to the report, there is an average of 30-40 attacks on MEW per week. 

“These statistics definitely place MEW among the top companies getting hit in the crypto world. In fact, they have been targeted significantly more times than some of the big names in the enterprise industries, like Fortune 500 banks,” said Elad Schulman, CEO, and Co-Founder of Segasec.

While many will point to these figures as evidence of the risks involved with cryptocurrency, the fact that security firms like Segasec are aware of these attacks and capable of stopping them shows the increased vigilance in the crypto space, particularly with larger projects like MEW. The security firm’s innovative solution was even capable of taking down one phishing site posing as the MEW wallet within three minutes of its launch.

According to Kosala Hemachandra, Founder & CEO of MEW, “MEW has been the target of some of the most advanced attacks we’ve seen throughout the history of the internet. However, it has made the security of our platform much stronger; we now implement the best security practices available, not just in the crypto space but the best security available across the entire internet.”


Join Us On Telegram | Twitter | Facebook



Like it? Share with your friends!

516
1.2k shares, 516 points

What's Your Reaction?

lol lol
66
lol
scary scary
666
scary
omg omg
600
omg
wtf wtf
466
wtf
win win
333
win
fail fail
266
fail
Love Love
200
Love
hate hate
600
hate
confused confused
133
confused

Leave a Reply

avatar
  Subscribe  
Notify of
Choose A Format
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Image
Photo or GIF
Video
Youtube, Vimeo or Vine Embeds
Gif
GIF format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Countdown
The Classic Internet Countdowns