MyEtherWallet[MEW] is targeted by more cyberattacks than Fortune 500 companies

MyEtherWallet(MEW) is currently one of the most popular ways to store Ethereum tokens. According to a research done by Segasec, and originally reported by CCN  MEW faces at least 30-40 cyber attacks every week, which is more than any large banks and Fortune 500 companies.

MEW is currently used by 1 million plus people to store their ERC-20 tokens, the native token of Ethereum blockchain. Segasec, cybersecurity and anti-phishing firm form Israel, is responsible for securing MEW. MEW also advises the user on best security practices, reminding the user to check for common mistakes such as Phishing, storage the keys etc.

According to the CEO of Segasec, Elad Schulman, they have stopped 313 attacks on the wallet till now. MEW also sees 30-40 attacks every week. Elad Schulman said,

“These statistics definitely place MyEtherWallet among the top companies getting hit in the crypto world. In fact, they have been targeted significantly more times than some of the big names in the enterprise industries, like Fortune 500 banks.”

Before hiring Segasec, MEW’s security was managed by its founder Kosala Hemachandra, and his team.

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