MetaMask Denies Involvement in $10M Hack
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MetaMask Denies Involvement in $10M Hack

written by John Murphy | April 26, 2023

MetaMask, the popular cryptocurrency wallet provider, do not accept the assertion. It’s platform exploited in a massive wallet-draining operation. It resulted in the theft of over 5,000 Ethers. Its worth is more than $10 million in crypto and nonfungible token (NFT) since December 2022. Therefore, company’s security team is working with other players in the Web3 wallet space to investigate the source of the exploit. There is no doubt that MetaMask denies Involvement in a $10m hack.

Misleading Claims of MetaMask Exploit

On April 18, MetaMask tweeted that the reporting on the theft had wrongly claimed that it resulted from a MetaMask exploit. The company clarified that the 5,000 ETH was stolen from various addresses across 11 Blockchain. The assertion that MetaMask denies Involvement in the $10m hack was incorrect.

Research Efforts Ongoing

MetaMask has been researching tirelessly to uncover the source of the exploit. So, the co-founder of Wallet Guard, Ohm Shah, stated that several independent security researchers were investigating the incident. There is no solid answer yet as to how it happened. Furthermore, he speculated that a private key or seed phrase leak may have occurred.

Collaboration with Other Players

MetaMask has confirmed that its security team is collaborating with other players in the Web3 wallet space to investigate the source of the exploit. Furthermore, MetaMask denies Involvement in a $10m hack. The company remains committed to securing its platform and preventing future incidents.

All Wallets Potentially Affected

Taylor Monahan, the founder of Ethereum Wallet manager ”My Crypto”, initially claimed that the exploit targeted long-time MetaMask users and employees using the platform. However, she stated that the attack was not MetaMask only; all wallets’ users have potential impact on it.

Conclusion

To conclude the discussion, MetaMask denies Involvement in the $10m hack. It is working to investigate the source of the exploit in collaboration with players in the Web3 space wallet.

While the cause of the hack remains unknown, users of all wallets are potentially at risk. It highlights the significance of concrete security measures and the requirements for ongoing vigilance in the crypto space.