Take note @Algorand@AlgoFoundation
Great example of a foundation taking initiative to make their valued community whole again. Much respect for the @eulerfinance team.
1/ MyAlgo Incident: Summary of preliminary findings
The preliminary investigation reveals that the attackers employed a MITM attack technique by exploiting the content delivery platform (CDN) to set up a malicious proxy. 🧵
1/ There's a bunch of noise in the #Algorand community. Much of it warranted. Community is feeling discouraged. Honestly, I am too. I decided to build on Algorand for the strength of the technology, but mostly for the dedication of the community. That community is still strong:
Take note of this, when you make a Multisig wallet from wallets A, B, C, it effectively forms a new wallet M.
To rekey the Multisig wallet M you must create a new Multisig M' and rekey to it.
Rekeying A, B and C independently doesn't do this for you. HMU if you have questions.
1/ We would like to share with the #Algorand community a thread on the recent @myalgo_ security incident and our thoughts to support the victims during this challenging time.
@DeFiChick @insurenimble @myalgo_@Algorand Thanks for stepping up diving into this investigation as early as you did @insurenimble We greatly appreciate all your hard work over the past 2 weeks!
@kyleTwang @bobtessier Perhaps they did not care to check the balance of each wallet, rather used their script to automate draining of every wallet they had access to
This is terribly sad to see. Algorand really had a chance to shine, show some leadership and prove themselves as a true tech leader by solving a potential protocol killing event. I was once the most bullish of bulls. The entire ecosystem is now on fire
All users of MyAlgo must withdraw their funds or rekey their funds to new accounts asap! ⚠️🚨 Do not wait!!
Create new account:
https://t.co/FhRCndPvfS
https://t.co/mj57KBg8Ml
Rekey Account Instructions:
Pera: https://t.co/PZog8fw0tO
Defly: https://t.co/PZog8fw0tO