Scam Alert

URGENT: MyAlgo Wallet Under Investigation – Withdraw Funds Safely Now!

Key Points:

Algorand Foundation has responded to the recent attack on the MyAlgo wallet, stating that they have conducted a thorough investigation into the Algorand protocol and SDK and have found no vulnerabilities.
MyAlgo has officially tweeted that all users should withdraw or re-deposit their funds into a new account as soon as possible.

The Algorand Foundation has responded to the recent attack on the MyAlgo wallet, stating that they have conducted a thorough investigation into the Algorand protocol and SDK and have found no vulnerabilities.

The foundation reassured users that the Algorand protocol remains secure and has not been compromised.

While the MyAlgo team has been in close contact with the Algorand Foundation throughout the investigation, it is important to note that MyAlgo is a third-party wallet provider and has no direct connection to the Algorand Company or the Algorand Foundation. MyAlgo has informed the foundation that they have not found any security concerns but are continuing to test the platform and are waiting for data from CDN, VPS providers, among others.

As a precautionary measure, MyAlgo has requested that all users remove their assets from wallets that have interacted with the platform. Users are advised to withdraw their funds to a newly created account outside of MyAlgo or to re-import them into another wallet or hardware wallet created outside of MyAlgo.

In light of these events, MyAlgo has officially tweeted that all users should withdraw or re-deposit their funds into a new account as soon as possible. They are urging users not to wait and to create a new account immediately.

Precautions seriously to ensure the safety of your assets. Users should always exercise caution when interacting with third-party wallet providers and regularly monitor their accounts for any suspicious activity.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.