IOTA Holders Urged To Change Wallet Passwords Now

After releasing an update for their compromised Trinity wallet, the IOTA Foundation is directing users to change their passwords. More steps will soon be announced to ensure funds are secure.


MANY IOTA ACCOUNTS MAY BE COMPROMISED

Last week the Iota Foundation stopped its network, the Tangle, after hackers stole funds from at least ten high-value accounts. The foundation soon tracked the vulnerability to the desktop version of Trinity. 

The foundation states:

The foundation is confident that only users that opened desktop Trinity during the specific date range are at risk. Nevertheless, it has also released an update for the mobile wallet, and is calling on those users to change their passwords out of an “abundance of caution.”

The password change is only the first step in resolving this issue. Users will also need to acquire new seeds, which are the 81 character keys that hold Iota tokens on the Tangle. The foundation promises soon to release a seed migration tool to enable this process. The network will not be restarted until after the tool has been made available.

FULL REPORT PROMISED 

The IOTA Foundation promises a full report on this hack. The vulnerability appears to be connected to MoonPay, a service recently integrated into Trinity that enables users to purchase IOTA directly from within the wallet. The MoonPay feature does not appear in the patched version.

Regardless of the cause, this is a serious breach of the IOTA platform. Although it appears that the hackers did not…

Source Link