Algorand Foundation: has cooperated with security companies and exchanges to track and freeze the stolen funds of MyAlgo wallet
On March 8, the Algorand Foundation tweeted that it had hired the blockchain security company Halborn to investigate the recent MyAlgo wallet attack; At the same time, Chainalisis was also employed to help track the damaged wallet transfer. If the funds involved were deposited in the exchange integrated with Chainalisis data, it would be frozen; Relevant law enforcement agencies are investigating and trying to recover stolen funds through the following exchanges and partners: Changenow, Kucoin and Circle. In addition, the Algorand Foundation also issued a reminder, suggesting that the assets in MyAlgo wallet be transferred to the newly created account or hardware wallet.
Interpretation of this information:
The Algorand Foundation has taken steps to investigate and recover funds lost in the recent MyAlgo wallet attack. The foundation has hired Halborn, a blockchain security company, to investigate the attack and Chainalysis to track the transfer of the stolen funds. If the funds were deposited in an exchange integrated with Chainalysis, they will be frozen. Law enforcement agencies are also involved in the efforts to recover the stolen funds through Changenow, Kucoin, and Circle. Additionally, the foundation has issued a reminder to users to transfer their assets to a newly created account or hardware wallet.
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