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ID:

myalgo-wallet-1479

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Date:

Status:

Incident Count:

February 28, 2023

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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50 pts

Audit By:

Audits:

None

Loss Amount:

8,600,000

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Recovered:

-

Rewards:

Ticker:

USD, ALGO, USDC

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100 pts each

Approx. 17 wallets were compromised with at least $7.2M stolen. Approx. $1.4M may be compromised in another 4 addressed. These two scenarios as leading/most probable:

1. Each individual has had their seed phrase compromised through social engineering/phishing.
2. A MyAlgo.com compromise leading to targeted exfiltration of unencrypted private keys.

Updated 3/21: Preliminary analysis indicated that the attacker employed a MITM attack to inject malicious code between the actual MyAlgo wallet and the user. The malicious proxy fetched the original MyAlgo code, modifying it with harmful code before presenting a malicious version to the user.
The injected code was designed to record users' passwords and encrypted seed phrases and transmit them to a server controlled by the attacker.

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