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DNS Scam Hits Popular Crypto Wallet

April 27, 2018
DNS Scam Hits Popular Crypto Wallet

One of the most popular online wallets for cryptocurrencies, MyEtherWallet (MEW), was recently attacked by cyber criminals. The incident took place two days back, and it has been reported that quite a few users lost their money.

Apparently, the site wasn’t directly hacked. Hackers used the DNS server to reroute users to phishing websites instead of MEW. According to a tweet shared by MEW, they noticed that a majority of these users were using Google DNS servers. This happened due to the ignorance of an SSL warning that must have popped up before entering the site.

MEW also tweeted advice for its users on how to avoid such scams in the future.

Coindesk has stated that users lost around $152,000 in the scam. However, according to TechCrunch, the amount lost totaled only $356.000. Since the hack wasn’t targeted directly at MEW, its difficult to track the actual damages.

Currently, only MEW users have raised their voice about the attack but there could be more ready to hit the servers. Cryptocurrency users should stay alert and follow the tips highlighted by MEW.