{"id":74826,"date":"2023-03-01T15:15:50","date_gmt":"2023-03-01T13:15:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74826"},"modified":"2025-09-10T01:55:37","modified_gmt":"2025-09-09T22:55:37","slug":"myalgo-wallet-users-urged-to-withdraw-funds-after-hacks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/myalgo-wallet-users-urged-to-withdraw-funds-after-hacks\/","title":{"rendered":"MyAlgo Wallet Users Urged to Withdraw Funds After Hacks"},"content":{"rendered":"<p>The MyAlgo cryptocurrency wallet team urged users to transfer funds to secure addresses after a series of hacks identified last week. The attackers have already stolen $9.6 million in cryptocurrencies.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">IMPORTANT: \u26a0\ufe0fWe strongly advise all users to withdraw any funds from Mnemonic wallets that were stored in MyAlgo. As we still don\\&#8217;t know the root cause of recent hacks, we encourage everyone to take precautionary measures to protect their assets. Thank you for your understanding.<\/p>\n<p>\u2014 MyAlgo (@myalgo_) <a href=\"https:\/\/twitter.com\/myalgo_\/status\/1630185695791706120?ref_src=twsrc%5Etfw\">February 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The developers noted that from February 19 to 21 hackers used an unknown exploit. No new attacks followed.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs we still do not know the underlying cause of the recent hacks, we urge everyone to take precautions to protect their assets. Make sure you transfer funds or change accounts securely,\u201d added MyAlgo.<\/p>\n<\/blockquote>\n<p>The Chief Technology Officer of the Algorand Foundation, John Woods, later clarified that about 25 accounts were affected by the attacks. The issue, he said, is not related to the Algorand protocol or the wallet\\&#8217;s <span data-descr=\\\"software development kit \u2014 a software development kit\\\" class=\\\"old_tooltip\\\">SDK<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/n Update on the exploit impacting ~25 accounts: from our investigation, this is not the result of an underlying issue with the Algorand protocol or SDK.<\/p>\n<p>\u2014 John Woods (@JohnAlanWoods) <a href=\"https:\/\/twitter.com\/JohnAlanWoods\/status\/1630301913693540355?ref_src=twsrc%5Etfw\">February 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Woods added that the incident did not affect Pera Algo Wallet \u2014 another wallet built for the Algorand blockchain.<\/p>\n<p>According to analyst ZachXBT\\&#8217;s calculations, hackers stole 19.5 million ALGO and 3.5 million USDC, worth a total of $9.6 million. The ChangeNow exchange froze the criminals\\&#8217; assets worth $1.5 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I haven\u2019t seen many posts about this on CT yet but it\u2019s suspected over $9.2m (19.5M ALGO, 3.5m USDC, etc) has been stolen on Algorand as a result of this attack from Feb 19th to 21st.<\/p>\n<p>ChangeNow shared they were able to freeze $1.5m. <a href=\"https:\/\/t.co\/BPCXTUD57n\">https:\/\/t.co\/BPCXTUD57n<\/a> <a href=\"https:\/\/t.co\/A3t7Ss0e83\">pic.twitter.com\/A3t7Ss0e83<\/a><\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1630375691886686208?ref_src=twsrc%5Etfw\">February 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back in January, Moonbirds founder Kevin Rose lost dozens of NFTs worth at least $1 million <a href=\"https:\/\/forklog.com\/en\/news\/moonbirds-founder-kevin-rose-loses-nfts-worth-1-million-after-wallet-hack\">due to a wallet hack<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The MyAlgo cryptocurrency wallet team urged users to transfer funds to secure addresses after a series of hacks identified last week.<\/p>\n","protected":false},"author":1,"featured_media":74827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1329,1301,57],"class_list":["post-74826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-algorand-algo","tag-blockchain-vulnerabilities","tag-wallets"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74826"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74826\/revisions"}],"predecessor-version":[{"id":74828,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74826\/revisions\/74828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74827"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}