Friday, April 16, 2021

Do Not Open Trinity Wallet until Further Notice –IOTA Foundation Warns Users

IOTA Foundation has some hours ago passed a note of warning across to the users of Trinity Wallet to desist from opening the app until further notice.

On 12th February 2020, IOTA took to Twitter to hint its users about an ongoing investigation regarding a suspicious situation detected in the Trinity Wallet.

IOTA shared this, “We are currently investigating a suspicious situation with Trinity, please do not open or use Trinity on Desktop until further notice.”

According to the most recent tweet shared by IOTA, deliberation is ongoing with the law enforcement and cyber-security experts to conduct a proper investigation of a coordinated attack that resulted in stolen funds.

So, for users to be at a safer side, they are hereby warned to restrain from opening Trinity wallet until further notice is passed across.

IOTA Foundation shared this, “Currently, IOTA is working with law enforcement and cybersecurity experts to investigate a coordinated attack, resulting in stolen funds. To protect users, we have paused the Coordinator and advise users not to open Trinity until further notice.”

According to Dominik Schiener, the IOTA Foundation co-founder, between $300,000 and $1.2 million worth of IOTA tokens were believed to have been carted away as a result of the Security Breach on Trinity Wallet App.

Dominik Schiener further explained in an email sent to The Block: “We’re currently looking into this issue together with several security analysts to get a full picture of where the vulnerability came from. It is not related to IOTA itself, but rather our Trinity wallet.

Most likely we are looking at a malicious dependency or even more sophisticated attack related to third-party integration. We are already in touch with law enforcement and are getting the complete picture of the extent of the attack, but we are most likely looking at around $300k – $1.2m in losses.”

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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