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Algorand (ALGO) wallet provider MyAlgo has asked users to withdraw all funds in their wallets or rekey them to new wallets as soon as possible following a breach that compromised $9.2 million.
In the earlier hours of today, the Twitter account of blockchain security firm "Peckshield Alert" sounded an alert to the crypto community that one of the corporate wallets of the decentralized limit order exchange on Algorand, Algodex, had been infiltrated by a malicious actor.
ZachXBT blasted Algorand's failure to “acknowledge” an ongoing wallet drain hack.
Crypto exchange Algodex and wallet provider MyAlgo have both suffered security breaches in the last few weeks.
MyAlgo, a wallet provider for the Algorand network, has warned users to withdraw funds from wallets created with a seed phrase due to an ongoing exploit. The company is uncertain about the cause of recent wallet hacks and advises everyone to take precautionary measures.
AlGO-USD lost most of its gains at the end of February 2023, after soaring by about 30% at the beginning of the month. The price saw a modest 1.2% increase at the month's end.
Cryptocurrencies have long been feared for their volatile nature. However, it's a characteristic that draws investors to this realm with a magnetic allure.
Our Algorand price prediction suggests that the price can retest $0.28 level soon. The outcome will determine the future of ALGO price.
Following the $9.6 million exploit of Algorand's [ALGO] native wallet, MyAlgo, the total value of assets locked (TVL) on the chain has returned to its 31 January level, data from DefiLlama revealed.
The new CFO, Matthew Commons, had several years of crypto and TradFi experiences.
A sum of crypto worth $8.6 million has likely been stolen via the Algorand wallet MyAlgo, according to the Algorand developer collective D13 on February 27.
An Algorand (ALGO)-based crypto wallet that was recently hit with a nearly $10 million attack is now urging users to withdraw their digital assets. MyAlgo, a leading Algorand wallet gateway, tells its Twitter followers to withdraw any funds held in Mnemonic wallets.
The wallet provider is yet to identify the root cause of the exploit, which led to the theft of $9.6 million worth of assets.
Proof-of-stake blockchain cryptocurrency protocol Algorand is urging users to withdraw their funds from MyAlgo wallets. This is as MyAlgo, the native wallet provider for Algorand, reported Monday (Feb. 27) that an ongoing exploit has seen $9.6 million worth of customer funds so far stolen from the open-source, payments-focused blockchain network.
The Algorand Foundation's CTO said the exploit was “not the result of an underlying issue with the Algorand protocol or SDK.”
MyAlgo, a wallet for blockchain protocol Algorand, has advised users to withdraw funds it was struck by an exploit last week.
MyAlgo, a wallet provider for the Algorand Network, has warned its users to withdraw their funds amid an exploit that saw nearly $9.2 million stolen. The warning was extended to users with funds in Mnemonic wallets that were stored in MyAlgo.
On the daily chart, Algorand (ALGO) was struggling with the crucial $0.28 level. When the price fell below this level in November 2022, it took on a life of its own.
ChangeNOW, a non-custodial crypto exchange, reported that its AML system flagged and halted suspicious ALGO token and USDC stablecoin transactions worth about $1.5 million in total. According to ChangeNOW, its risk-prevention and anti-money laundering system detected $1.5 million in suspicious transactions on February 19 involving ALGO tokens and Algorand-based USDC stablecoins, thus preventing the funds from being laundered and lost forever until further investigations could be carried out.
Ethereum is the most widely used and emblazoned chain, but even Vitalik Buterin himself knows that it is a slow network and more expensive than others.
Our Algorand price prediction suggests that price can surge by 60% in the coming weeks if Bitcoin price shows strength.
Data from DeFi Llama shows that Algorand's (ALGO) TVL rose by 150% since the start of 2023. Previously at $73 million, the network's total locked value topped $187 million at press time.
The Algorand (ALGO) trend is bearish until the price reclaims the ascending support line.
Key Points: Rand Gallery, the Algorand blockchain's largest NFT marketplace, has acquired the data aggregator NFT Explorer to expand its product offering with analytics.
