Prominent crypto wallet MetaMask addresses recent reports of multimillion-dollar Ethereum (ETH) wallets being hacked, saying the attacks are not related to weaknesses in the company’s software.
Earlier this week, Taylor Monahan, CEO of Ethereum-focused wallet MyCrypto, said in a lengthy thread that she uncovered a “massive wallet-emptying operation”, which saw 5,000 ETH being siphoned across 11 different chains since December 2022.
According to Monahan, the hacks are targeting large wallets of “OG” Ethereum holders that are likely to have a high level of security.
“For the past 48 hours I have been through a massive wallet exhaustion operation. I don’t know how big it is, but as of December 2022 there is 5000+ ETH and ??? in tokens/NFTs (non-fungible tokens)/coins across 11+ chains…
This is NOT a low-brow phishing site or a random scammer. It has NOT stretched any noob. It ONLY stretches OGs…
[As far as I know], no one has determined the source of their compromise. Multiple devices have been forensically examined. Nothing.”
In a recent announcement, MetaMask say that the exploits are not specific to MetaMask and that its security specialists are investigating possible causes behind the attacks.
“Recent coverage of [Monahan’s] thread falsely claimed that a massive wallet drain operation is the result of a MetaMask exploit. This is incorrect. This is not a MetaMask specific exploit…
Our security team is working with others in the web3 wallet space to investigate the source of this exploit.
As always, don’t forget to safely store your Secret Recovery Phrase offline and store larger amounts of crypto in a hardware wallet.”
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Featured image: Shutterstock/Hernan E. Schmidt/Nikelser Kate
