MyEtherWallet (MEW), one of the most well-known services for managing Ether wallets, recently took to social media to relay an urgent message about a potential cyber attack. According to the Tweet, the Hola VPN extension was in a hacked state for five hours, allowing for the hackers to monitor the activity of some MyEtherWallet users through the extension.
Ironically enough, the VPN service meant to secure your online experience has slipped up again, with this most recent situation being Hola’s second case of bad press.
The wallet service advised that MEW users who had the Hola extension installed should immediately move their funds to a secure wallet, ensuring that the risk of attack is mitigated.
Unlike many other traditional third-party wallets, MEW takes a ‘you are your own bank’ approach, encouraging its users to take control over their own private keys. Although the MEW service has been lauded for the decentralized aspects it offers, the private key system increases the risk of fund loss/mismanagement on a user-to-user basis.
Hola VPN, a free virtual private network (VPN) service with almost 50 million users, later released a report, giving their take on the situation. The blog stated: