MyEtherWallet Fake Google Play Wallet: Difference between revisions
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/myetherwalletfakegoogleplaywallet.php}} | {{Imported Case Study 2|source=https://www.quadrigainitiative.com/casestudy/myetherwalletfakegoogleplaywallet.php}} | ||
{{Unattributed | {{Unattributed Sources}} | ||
[[File:Myetherwallet.jpg|thumb|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. | [[File:Myetherwallet.jpg|thumb|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. | ||
| Line 6: | Line 6: | ||
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. | 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. | This is a global/international case not involving a specific country.<ref name="thenextweb-5877" /><ref name="lukasstefankotwitter-5878" /><ref name="myetherwallettwitter-5879" /><ref name="valuewalk-5880" /><ref name="thenextweb-5881" /> | ||
<ref name="thenextweb-5877" /><ref name="lukasstefankotwitter-5878" /><ref name="myetherwallettwitter-5879" /><ref name="valuewalk-5880" /><ref name="thenextweb-5881" /> | |||
== About MyEtherWallet == | == About MyEtherWallet == | ||
| Line 63: | Line 62: | ||
!Description | !Description | ||
|- | |- | ||
|January 24th, 2018 5:35:00 AM | |January 24th, 2018 5:35:00 AM MST | ||
|Main Event | |Main Event | ||
|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here. | |Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here. | ||
| Line 90: | Line 89: | ||
== Ongoing Developments == | == Ongoing Developments == | ||
What parts of this case are still remaining to be concluded? | What parts of this case are still remaining to be concluded? | ||
== General 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. | |||
== Individual Prevention Policies == | |||
{{Prevention:Individuals:Placeholder}} | |||
{{Prevention:Individuals:End}} | |||
== Prevention Policies == | == Platform Prevention Policies == | ||
{{Prevention:Platforms:Placeholder}} | |||
{{Prevention:Platforms:End}} | |||
== Regulatory Prevention Policies == | |||
{{Prevention:Regulators:Placeholder}} | |||
{{Prevention:Regulators:End}} | |||
== References == | == References == | ||
Latest revision as of 10:34, 14 April 2023
Notice: This page is a freshly imported case study from the original repository. The original content was in a different format, and may not have relevant information for all sections. Please help restructure the content by moving information from the 'About' and 'General Prevention' sections to other sections, and add any missing information or sources you can find. If you are new here, please read General Tutorial on Wikis or Anatomy of a Case Study for help getting started.
Notice: This page contains sources which are not attributed to any text. The unattributed sources follow the initial description. Please assist by visiting each source, reviewing the content, and placing that reference next to any text it can be used to support. Feel free to add any information that you come across which isn't present already. Sources which don't contain any relevant information can be removed. Broken links can be replaced with versions from the Internet Archive. See General Tutorial on Wikis, Anatomy of a Case Study, and/or Citing Your Sources Guide for additional information. Thanks for your help!
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.[1][2][3][4][5]
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.
| Date | Event | Description |
|---|---|---|
| January 24th, 2018 5:35:00 AM MST | 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?
General 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.
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ Ethereum thieves targeting Android users with fake MyEtherWallet apps (Jan 18, 2022)
- ↑ @LukasStefanko Twitter (Jan 21, 2022)
- ↑ @myetherwallet Twitter (Jan 21, 2022)
- ↑ Hackers Stealing Ethereum With Fake MyEtherWallet Apps (Jan 21, 2022)
- ↑ The Ethereum Scam Database helps you avoid cryptocurrency scammers (Jan 18, 2022)