Ethereum wallet MyEtherWallet (MEW) has recorded more attempts by hackers than the Fortune 500 banks, according to the main secrecy company Segasec.
Segasec was responsible for defending MEW from malicious attacks. Such attempts to attack are no surprise, knowing the amount of valuable Ethereum tokens accessible via the MEW platform. In fact, users always have to deal with a clear message on the home page of the platform, advising them on how to keep their wallets safe.
Beyond the basic security measures related to private keys and login tools, the overall security of the platform is of paramount importance. According to Segasec, since the beginning of his task to protect the MEW platform, he has removed 313 active attacks, with an average of 30-40 per week, and these numbers are growing every day.
The CEO and co-founder of Segasec, Elad Schulman, explains that such statistics as mentioned above place MEW among the best companies affected in the cryptic world. He also notes that the platform has been significantly targeted more than some of the big names in industries, such as large financial institutions.
Apparently, the need to delegate responsibility for protecting the MEW platform seems to be primarily the result of these overwhelming attacks. Until the recruitment of Segasec, the security of the MEW platform was carried out by its founder, Kosala Hemachandra, and by his team. The identification of phishing attacks and impersonal sites offered a frantic task that often led to the team a couple of days and endless permutations to reach. This is mainly due to the volume of such attacks.
All About User Security
According to Hemachandra, the partnership with Segasec is primarily aimed at protecting users of the platform and ensuring the security of their Ethereum tokens.
"We want our users to feel confident and we will do everything possible to do so, so the partnership with Segasec is another important step towards the protection of our users by malicious actors."
Security threats often appear in the form of malicious copies of their targeted sites through various digital channels with the intent to deceive potential users. These could be through specific websites, social media and even Google ads.
Protection against such threats is usually handled by a total removal of such malicious platforms, by blocking them or by deception before users are exposed to them.
In the case of MEW, Segasec is constantly monitoring 2,746 suspicious domains in case they mature in active attacks.
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