Coinspect Security

On March 19, it was reported that the blockchain security company Coinspect Security issued a document stating that through its cooperation with the Algorand wallet MyAlgo, the root cause of the attack on MyAlgo has been determined, and the specific information will be publicly announced. Currently, attacks are no longer active, do not exploit application errors or vulnerable code bases, do not abuse browser functionality (such as auto fill), private key encryption is not weak, and the open source MyAlgo component is not affected. In addition, attackers decrypt private keys because they have obtained passwords, not because of encryption vulnerabilities. For affected users, it is recommended to immediately change the wallet password and not reuse it. Coinspect Security has determined the root cause of the hacker attack on Algorand Ecological Wallet MyAlgo Analysis based on this information:Coinspect Security, a blockchain security company, has identified the root cause of the recent attack on the Algorand wallet MyAlgo, according to a document…