It’s only been four months since the last MyEtherWallet hack, but the crypto wallet platform is at the center of yet another security breach. This time, however, the breach involves the Hola VPN.
As a result, if you use Hola’s Chrome extension, MyEtherWallet has warned that you should move your funds to a new account.
MyEtherWallet Hack: What We Know
Yesterday, hackers compromised the Hola VPN service for roughly five hours. In that time, the crypto wallets of Google Chrome users may have been compromised.
Why? Because they had the Hola extension installed on their computers. By having the extension, hackers were able to log the activity of those users.
Immediately, MyEtherWallet took to Twitter to provide a statement, urging its users to transfer their funds – if they still have access to them, that is.
Urgent! If you have Hola chrome extension installed and used MEW within the last 24 hrs, please transfer your funds immediately to a brand new account!
— MyEtherWallet.com (@myetherwallet) July 10, 2018[1]
For those who don’t know what the Hola VPN is, it is a virtual private network service.
Note that the breach is technically over, but, that doesn’t mean it’s necessarily over for those involved.
A New Account Equals More Transaction Fees
Over or not, it’s important for Hola Chrome extension users to transfer their funds, just in case the hackers return.
However, this isn’t exactly a quick fix. Opening a new account and moving their funds will ultimately cost these users transaction fees. Fees that they wouldn’t have had to pay if the MyEtherWallet hack didn’t happen.
Is MyEtherWallet to Blame for the Latest Breach?
The short answer is no.
