MetaMask Refutes $10.5M Hack Claim Pointing Towards Wallet Exploit

• MetaMask’s security team is looking into the root cause of the attack
• The team claims that it is not a MetaMask-specific exploit.

Claims that a vulnerability in the MetaMask crypto wallet was responsible for a “massive wallet draining operation” that stole more than 5,000 Ether have been refuted by the wallet’s developer.

Taylor Monahan, the founder of Ethereum wallet manager MyCrypto, published a series of updates on April 17 detailing how an unnamed wallet-draining hack has stolen over $10.5 million in cryptocurrencies and NFTs since December 2022. This prompted a tweetstorm from MetaMask on April 18.

The team stated:

“Recent reporting on [Monahan’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.”

Exploit Not Limited to MetaMask Wallets

The wallet service stated the 5,000 ETH was taken “from various addresses across 11 blockchains,” proving that the assertion that the money was stolen via MetaMask “is incorrect.”

MetaMask has acknowledged, through a series of tweets that its security team is looking into the root cause of the attack and “working with others across the Web3 wallet space.”

Moreover, Monahan said in the post on the vulnerability that “no one knows how” the enormous assault was carried out, but that her “best guess” was that a large quantity of historical data was gathered and exploited to steal the money.

At first, she said the attacker was utilizing MetaMask to steal from long-time users and workers. Later, Monahan clarified that the vulnerability isn’t limited to MetaMask and that “users of all wallets, even those created on a hardware wallet”, have been affected.

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