MyEtherWallet is attacked by hackers more often than the largest banks

The title claim follows the reports of the company dealing with cyber security platform, Seagsec. According to these data, the Ethereum MyEtherWallet portfolio is more likely to try hacking attacks than the Fortune 500 banks.

Nobody should be surprised anyway. Finally, the wallet has a substantial number of tokens from the entire Ethereum platform.

The key to the private key security

The basic means of protection is to ensure the security of private keys and password. The general security of the platform is also important. According to Segasec, which is the security company of MyEtherWallet, as soon as the company took on its task, 313 active attacks were undertaken. This gives an average of 30 to 40 attacks per week. Apparently this number is increasing day by day.

CEO and co-founder of Segasec, Elad Schulman explains that the given data put MEW in this respect at the forefront of cryptocurrency platforms, but also of large financial corporations.

Interestingly, the founder of the Kosala Hemachandra portfolio and his team directly dealt with the security of the platform. The number of phishing attacks meant that the company decided to ask Segasec for help.

Security above all else

According to Hemachandra, Segasec’s task is to secure platform users and ensure the security of their Ethereum network tokens.

“We want our users to feel safe and do everything to make it happen, so working with Segasec is another important step towards protecting our users from malicious actors,” says Hemachandra.

The most common threats for FEA users are still fake websites that look like MEW. Unfortunately, users still often fall into this type of trap.




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