50 Million Accounts Hacked in Latest Attack on MyEtherWallet
According to MyEtherWallet, its Hola VPN service saw a break-in earlier this week and left the system exposed for five hours, a period in which all user accounts faced potential security hacks. The company instantly urged its users to begin allocating their funds elsewhere after discovering the breach as a safety measurement.
As an extension of MyEtherWallet's website on any browser, the free VPN services are used by almost 50 million users who were compromised for five hours during the discovered breach. According to the company, those responsible for the hack were breaking into user accounts and monitoring their activities to target the most active users during the time of the attack.
MEW stated that anyone installing Hola 24 hours prior to the attack was the only ones exposed to the hack. The company stated that it does not hold any compromising user data like account passwords and other means of accessing an account to avoid these exact situations. They explained that the attackers could not gain access if the Hola VPN wasn’t used in the 24 hours prior to the hack.
This attack is only the latest on MyEtherWallet, with another attack in early 2018 resulting in more than $15000 worth of stolen Ether from its accounts. So far, the company has kept quiet about the number of affected accounts and did not divulge any information regarding the entire cost of the hack. The earlier attack saw public attention instantly, as a massive successful attack only further pushes regulators to provide more strict laws as protective measures against such hacks.