My Dash Wallet, a digital wallet of Dash cryptocurrency has been compromised according to the developing team of Dash. The DashPay Twitter page notified the users about the vulnerability in their wallets and asked them to create a “new hd wallet and move funds” there.
According to the update, it was an unintentional mistake from their website developing team. Nevertheless, while the data was cached, there is a high probability that users could have downloaded the malicious script on 13th May when the site kicked backed on.
Moreover, while no user has been affected until now, the Dash Pay users have been advised to create a wallet, just in case. However, the announcements itself has been bizarrely presented and no clear green signal has been given to the users. This tweet came out early on 12th July,
Are your Crypto Funds Safe?
Here’s the list of official wallets developed by the Dash Foundation which could come in handy for Dash users.
Furthermore, while cryptocurrency is a digital medium of sending any value, online wallets must not be used for their storage. There is some open source online wallets, nevertheless, even they stand the risk of losing private key data of its users. The instances of hacking from Exchanges have also affected a lot of users in the past. Most recently, the Japanese Exchange, Bitpoint, got hacked for $32 million.
Hence, while this is an isolated harmless incident, the warning extends to all cryptocurrency users to safeguard their funds from internet theft.
Which is the most secure way of storing cryptocurrencies? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com