MyAlgo wallet issues urgent alert to Algorand community ALGO $ALGO AlgoFam Algonauts AlgoFamily
The infiltrated wallet was tied to its liquidity rewards program for users of Algodex and for providing liquidity on"Tinyman," a decentralized trading protocol on the Algorand blockchain.Speaking on the losses, it says the impact was not material, but ALGX tokens valued at about $25,000 earmarked to provide liquidity rewards to users of Algodex were stolen. It promises to replace this in full.
Also, ALGX and ALGO tokens valued at over $30,000 were removed from the Tinyman DEX. According to it, the total loss from the theft was less than $55,000, and the theft did not impact Algodex, any Algodex users, or the liquidity of ALGX on Algodex.spoke on the action taken by the protocol in wake of the recent thefts happening in the Algorand ecosystem. She reassures users once more that it is not the protocol and further adds,"It's also not phishing as we first maybe thought.
Everyone or almost everyone is impacted. This"person" is moving balances from highest to lowest out of myalgo wallet. We are trying to help Rand Labs figure out where was the vulnerability, but honestly they still have no idea.She continued,"Everyone, or almost everyone, is impacted. This person is moving balances from highest to lowest out of MyAlgo wallet. We are trying to help Rand Labs figure out where was the vulnerability, but honestly, they still have no idea.
The Algorand Foundation CEO adds,"I have also lost funds in this, but I can't begin to imagine the pain folks are feeling. I guess I just wanted to say something from me unofficially as well, about how sorry I am for all of our community."
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