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MyEtherWallet Gets Hit By CyberAttack From Google Chrome Store Hackers

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:

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The demand for secure crypto storage is almost as high as the demand for the assets themselves. Only a few companies at the moment are offering solid secure offline storage devices for cryptocurrencies and they are selling out like hot cakes. Ledger is one such company and it has just secured its second round of investments which will go into research and development and up-scaling operations.

In a press release on the company blog yesterday Paris based Ledger announced that Series B of funding has now been completed with 75 million USD secured in investments. The first round of investments was held in March 2017 where $7 million was raised. Leading the way was London based capital markets firm Draper Esprit whose CEO Simon Cook said;

“Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success and we believe that Ledger has built the world’s best security platform to manage private keys for all blockchain and crypto asset applications. This is a global company for a global industry and we have built an international syndicate through the Draper Network to support the team in their huge ambition.”

A number of other venture capitalist partners added to the stash which included Draper Associates, Draper Dragon and Boost VC, as well as FirstMark Capital, Cathay Innovation, and Korelya Capital.

Eric Larchevêque, Ledger CEO, was pleased with the outcome;

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