Friday, October 20, 2017

MyEtherWallet Hacked

Article: A Look at Five Different Cryptocurrency Hardware Wallets and Prices -

I have permanently given up on Software Wallets. This week, MyEtherWallet was hacked. 1 ETH and 3000 KICK Tokens were stolen from my by this address: 0xF7860ea76a36Ee83abB7F88d3C773f0440e178be. You can read the comments on Etherscan to see that I am not the only one: Etherscan Info.

I didn't want to use MyEtherWallet, and now I know why. It is clearly hackable, and I would advise everyone to avoid it. Especially since you are having to input your Private Key for access. Private Keys are secured in other online wallets. And, in Hardware Wallets, they are locked up on the device.

But, unfortunately for me, I followed the advice of KICK ICO and put money in MyEtherWallet, and had the tokens I bought there. Now, they're all gone. I have written MyEtherWallet for help, but don't know if they will help me.

ICO's are notorious for being riddled with schemes and rip-offs. I have now learned a hard lesson to never even think of doing one unless I have a Hardware Wallet in place. Furthermore, I am close to starting mining. And, I guess that it is best to know that I need to make sure that any coins mined are taken offline as soon as possible, and secured on a Hardware Wallet.

I will update with anything I hear back from MEW. I tried KICK ICO. But, I guess that I shouldn't be surprised that they offered no help, only replying to me in broken English. ICO's are a clear minefield. I would avoid them. But, if you absolutely want to participate, do so in only small quantities that you can afford to lose. Because, as in my case, you might very well lose all of it.

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