MyEtherwallet Launches a New Type of a Crypto Wallet

MyEtherwallet, the popular Ethereum and ERC-20 token wallet often referred to as MEW, has recently launched a new mobile wallet application with functionality as a hardware wallet.

The ‘no hardware hardware wallet’, dubbed MEWconnect comes with an added 2-factor transaction verification for extra security, while retaining the familiar interface.
According to the company, the wallet stores your private keys in a local and isolated vault on your device. In other words, one can use a phone as a hardware wallet and sign everything from the phone and then broadcast it on the network instead of giving a private key to the browser.

“With this application, users can now easily interact directly with MEW via their mobile phones, while still remaining in full control of their private keys and funds,” MEW’s founder and CEO Kosala Hemachandra explained.
The company believes this app “fills an important role in the current marketplace” and “will play key role in wider cryptocurrency adoption”.

However, MEW stressed that real hardware wallets are still the safest, while the new app is a free alternative to keystore files and mnemonics.

Widely considered the safest choice for storing cryptocurrencies, hardware wallets are popular among people with large cryptocurrency holdings, or for those who just want the extra security it provides. Traditional hardware wallets such as Ledger and Trezor typically sell for somewhere between USD 90 and USD 200.

MEWconnect, is already available in the Apple AppStore, while a beta version of the app for Android users can be accessed through the Hockey app center for open source applications.
However, some are still cautious towards the new product. Replying to MEW on Twitter, its user @GpWTC said that “mobile phones are not secure at all, I guess that’s a good experiment, but unfortunately you will only back off when it’s too late, like al experiments.”

According to Segasec, a cybersecurity firm, since the beginning of its task of protecting the MEW platform, it has taken down 313 active attacks, with an average of 30 to 40 per week, and these numbers are growing daily, CCN reported in September.


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Author: Fredrik Vold
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Vitalik Buterin to leave Ethereum for Google??

A now-deleted tweet by Vitalik Buterin shows that he may have actually been considering leaving the Ethereum project to join Google’s staff.

The creator of Ethereum posted a poll on Twitter asking his followers if he should “drop Ethereum and work for Google,” with a screenshot of an email that was sent to him by a member of Google staff asking if he would like to join the company.

He might have deleted the tweet because he failed to censor the sender’s email address, which we did before posting the “screenshot of a screenshot.”

Elizabeth Garcia is an on-site engineering recruiter at Google, as her profile on LinkedIn reads, and worked in the past at the Los Angeles Area Chamber of Commerce as an interview coach.


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It is no mistake that this email was sent to Buterin, as Google finds itself at odds with several companies that have chosen to pursue blockchain technology while the tech giant appears somewhat left behind.

A number of ex-employees of the company have even founded their own group to support the development of blockchain endeavors.

Named “xGoogler Blockchain Alliance,” the community aims to help any “ex-Googlers” build up their own blockchain ambitions. This group was started by a bunch of former employees who have already established their own companies in the blockchain space.

In its ever-present habit of acquisition, Google may have thought to recruit Vitalik Buterin for blockchain projects of its own to help the company get ahead of the competition.

Insiders from Google have already confirmed that the company is looking into blockchain technology but didn’t provide many details on the subject.
“Like many new technologies, we have individuals in various teams exploring potential uses of blockchain, but it’s too early for us to speculate about any possible uses or plans,” a spokesperson said.


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Author: Miguel Gomez
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‘We are having enormous amount of phishing attacks’ – says Founder of MyEtherWallet

MyEtherWallet was the red-hot topic a few days back due to the phishing attack where almost 216 ETH were stolen. The team spoke about the phishing attack on Twitter and gave more insight on what exactly went wrong. The team also clarified that the website wasn’t hacked and that it was a phishing attack that took place as the Google public DNS was compromised.

MyEtherWallet’s recent Twitter post says:
“Google Domain Name System registration servers were hijacked so that MEW users were redirected to a phishing site… Your security & privacy is ALWAYS priority. We do not store any of your personal details, including keys.”

They further add that the majority of the people affected by the attack were using Google DNS server and the users ignored the warning pop-up which clearly indicated that the website is imitating the MEW portal.

The team has also advised users to make sure that there is a green bar SSL certificate which says ‘MyEtherWallet Inc [US]’ and has asked to ignore any portals or Reddit posts that claim that they will be reimbursing the stolen ETH on their behalf.


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During an interview with Finance Magnets, the CEO of MyEtherWallet, Kosala Hemachandra spoke regarding the phishing attack and says that the MEW is not responsible for the attack and that users ignored the warning sign. He says that if there was no warning sign and if the community thinks that MEW was in anyway responsible for the attack, then they would consider reimbursing the stolen money.

He further adds that MyEtherWallet is having an enormous amount of phishing attacks every day. There are more 6500+ domain names similar to MyEtherWallet. To avoid these attacks, they are planning on creating a hardware wallet which will be free for download and use. It will help create a P2P connection with MEW and the users private key which will not leave their phone.

Daniel Vernaza, a Twitterati says:
“Google or not google dns, your website was duplicated and due to that many of us lost ETH. “Likely” does not mean we all did it. I had no message nor errors. Blaming users is not the right approach in my opinion. It is very easy to point fingers, but hey I lost money who cares…”
He further adds:
“Not only that, when I messaged you guys that specific wallet was at 60+ ETH and there was no response until they stole over 200 ETH. Still blaming the users when this could have been stopped much sooner?”

Dawid Pietrzak, another Twitterati says:
“What the hell could’ve they done? This was a failure of a single each piece of Internet infrastructure but MEW. Someone managed to swap out a record in Google’s DNS, and certificates should prevent from that but they didn’t. MEW couldn’t do anything once the attack was rolling.”


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Laira Rebecca
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