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Hackers target MyEtherWallet more than world's largest banks

13 Sep, 2018
by David Robb
News
Hackers target MyEtherWallet more than world's largest banks

MyEtherWallet, the most popular online wallet for storing ETH tokens, is targeted by hackers more than some of the world's largest banks. A recent report shared with Chepicap by cybersecurity firm Segasec claims that there is an average of 30-40 attacks on MEW per week.

The Segasec team are currently monitoring 2746 suspicious domains, and have thwarted 313 attacks related to the wallet since they were hired to help MEW improve its security. 

"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 increasing 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 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."

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