Over 13 million Algorand hack still not resolved, My Algorand browser based wallet now recommending users move funds of of their wallet.
2 min read
Last week on February 20th it was reported that over 13 million ALGOs were stolen from different users, it appears that all of these users were using a My Algorand browser based wallet. MyAlgo tweeted this morning recommending that all users move assets off any Mnemonic wallet stored on MyAlgo site.
If you have a hardware wallet linked to MyAlgo your crypto should be fine since your seed phrase was never on their website.
It also appears that Pera wallets are not affected buy hardware wallet would be best.
John Woods the CTO of the Algorand foundation made a statement that the hack was not a problem with Algorand itself.
Multiple users have lost millions of ALGOs in this hack
Gard protocol a DeFi platform on Algorand was also affected by the recent hack, no users funds were taken but it appears a portion of their operating funds were.
Things to do
move your funds to a hardware wallet if possible. move your funds to hot wallet that isn’t My Algorand wallet you could also rekey your current wallet (advanced) https://developer.algorand.org/docs/get-details/accounts/rekey/
submitted by /u/Odlavso
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