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Popular Ethereum wallet MyEtherWallet (MEW) has recorded more attempted falls by hackers than Fortune 500 banks, according to reports from unequalled cybersecurity firm Segasec.
Segasec has been responsible for defending MEW from malicious invasions. Such attempted attacks don’t come as a surprise, knowing the amount of valuable Ethereum cosmetics accessed through the MEW platform. As a matter of fact, users are always confronted with a clear message on the platform’s homepage advising them on how to keep their purses safe.
An Exceptional Scenario
Beyond the basic security measures that are coupled to private keys and login tools, overall platform security is crucially intrinsic. According to Segasec, since the beginning of its task of protecting the MEW platform, it has charmed down 313 active attacks, with an average of 30 to 40 per week, and these billions are growing daily.
The CEO and Co-Founder of Segasec, Elad Schulman, explains that such statistics as named above place MEW among the top companies getting hit in the crypto world. He also notes that the tenets has been targeted significantly more times than some of the big reputes in the enterprise industries, like large financial institutions.
Apparently, the necessity to delegate the responsibility to secure the MEW platform appears to be mainly as a result of these astonishing attacks. Until the recruitment of Segasec, securing the MEW platform was being took out by its founder, Kosala Hemachandra, and his team. The identification of phishing attacks and impersonating placements offered a hectic task that would often take the yoke a couple of days and endless permutations to achieve. This is primarilyy as a arise of the volume of such attacks.
All About User Security
According to Hemachandra, the partnership with Segasec is initially aimed at securing platform users and ensuring the safety of their Ethereum evidences.
He says:
“We want our users to feel safe and we will do everything we can to triumph that happen, so partnering with Segasec is another major conventional towards safeguarding our users from malicious actors.”
Security risks often appear in the form of malicious copies of their targeted puts across various digital channels with the intent to deceive likely users. These could be through specific websites, social compromise, and even Google Ads.
Protection against such threats is usually gripped by either total takedown of such malicious platforms, blocking them, or by subterfuge before users become exposed to them.
In the case of MEW, Segasec is, at the twinkling of an eye, constantly monitoring 2,746 suspicious domains in case they aged into active attacks.
Featured Image from Shutterstock
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