MyEtherWallet Fake Google Play Wallet

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MyEtherWallet

MyEtherWallet is a widely used and popular wallet which was not available on the Google Play store in January 2018. A malicious version of the application was created on Google Play, and users were tricked into installing it.

The malicious application would prompt users to enter their private keys or set up compromised wallets. It's not clear if any funds were stolen or how much in this case.

This is a global/international case not involving a specific country.

About MyEtherWallet

"MEW (MyEtherWallet) is a free, client-side interface helping you interact with the Ethereum blockchain. Our easy-to-use, open-source platform allows you to generate wallets, interact with smart contracts, and so much more."

"Taylor Manahan and Kosala Hemachandra founded MEW (MyEtherWallet) back in 2015, not long after Ethereum was created."

"One consequence of the recent cryptocurrency craze is that people are increasingly more interested in downloading a wallet on their phones. But it seems scammers have found an opportunity to exploit this trend – and are now actively seeking to dupe gullible Ethereum holders with malicious MyEtherWallet copycats on Google Play."

"There is fake @myetherwallet on Google Play that requires user's private key or mnemonic phrase to log in." At the time there wasn't "any official MyEtherWallet, yet."

"Of course, there's the typical fake comments. Grabbed myself a copy of the APK to check out later on."

"Malware researcher Lukas Stefanko has taken to Twitter to warn users away from a malicious instance of the popular Ethereum wallet that is currently being distributed on Google’s official mobile software platform."

"[T]here is a FAKE MyEtherWallet app on Google Play that has yet to be removed. Please help us light a fire under @GooglePlay’s butts and get it taken down!"

"Phony MyEtherWallet apps pose a serious threat to gullible users who may not be able to tell a legitimate app apart from the fakes, and a significant amount of money could be stolen by enterprising hackers with some basic development skills who are releasing these MyEtherWallet apps that masquerade as an official representation of the website."

"And as an FYI, there are currently no official MyEtherWallet apps available. Always verify for truth before downloading an app, visiting a site, or inserting any information anywhere."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - MyEtherWallet Fake Google Play Wallet

Date	Event	Description
January 24th, 2018 5:35:00 AM	Main Event	Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Prevention Policies

Cryptocurrency users need to always make sure that they are accessing any downloads directly on the official website. Unless infeasible, it's safer to transfer only a small wallet to any newly downloaded software, and wait prior to moving any significant sums over. (Malicious wallet developers typically sweep funds soon after any deposit is made.) Most blockchain updates are backwards compatible. It's a good idea to always ask trusted friends if you receive news of an update. Never make a rushed decision to download any new wallet software. Store most of your funds offline on a hardware wallet or paper copy, with a backup seed phrase, and set up a multi-sig if you have the technical knowledge to do so properly.