Cryptocurrency wallet provider MetaMask has denied claims that a wallet exploit was responsible for the theft of over 5,000 Ether from its users. The allegations emerged following a series of tweets by Taylor Monahan, creator of MyCrypto, on April 17, 2023.
Recent reporting on @tayvano_’s thread has incorrectly claimed that a massive wallet draining operation is a result of a MetaMask exploit.
This is incorrect. This is not a MetaMask-specific exploit. https://t.co/MiJ3QgslMy
— MetaMask 🦊💙 (@MetaMask) April 18, 2023
Monahan claimed that an undisclosed wallet-draining hack had stolen over $10.5 million worth of cryptocurrency and non-fungible tokens (NFTs) since December 2022. She stated that the method used for the large-scale attack remains unknown but speculated that old data might have been exploited.
Monahan initially suggested that the attacker targeted seasoned users and staff members through MetaMask, but later revealed that users of all wallets, including hardware wallets, had been affected.
However, in a recent tweet, MetaMask denied the report, saying that the reporting on Monahan’s thread had made a false assertion that a MetaMask exploit was responsible for a large-scale wallet-emptying operation.
They clarified that the bug is not exclusive to MetaMask and that the alleged theft of 5,000 ETH was sourced from various addresses on 11 different blockchains. The MetaMask team is working with others in the web3 wallet community, and their security team is investigating the origin of the attack.
Crypto platforms have been the target of various exploits and attacks, and Bitrue, a cryptocurrency exchange, recently announced a hot wallet breach that led to the theft of several cryptocurrencies valued at approximately $23 million. Bitrue has taken swift action to prevent further losses and is currently investigating the matter.
PeckShield, a blockchain security firm, also reported a multimillion-dollar loss caused by an exploit that targeted yUSDT, a stablecoin developed by the decentralized finance platform Yearn Finance.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
