Algorand Foundation: Relevant law enforcement agencies are investigating the MyAlgo wallet attack

The Algorand Foundation stated that it has hired the blockchain security company Halborn to investigate the MyAlgo wallet attack and hired Chainalysis to help track the affected wallet transfers. If the funds involved are deposited into exchanges integrated with Chainalysis data, they will be frozen. According to the Algorand Foundation, relevant law enforcement agencies are also investigating and recommending that the assets in the MyAlgo wallet be transferred to a newly created account or hardware wallet. Previously, on-chain data analyst ZachXBT stated that Algorand’s ecological wallet MyAlgo was attacked from February 19th to 21st, and more than $9.2 million in assets (19.5 million ALGOs, 3.5 million USDCs, etc.) may have been stolen on Algorand. In early March, Algorand CTO John Alan Woods tweeted that the Algorand wallet MyAlgo attack affected about 25 accounts, but there were no potential problems with the Algorand protocol and SDK itself. For users still using MyAlgo hot wallets, John Alan Woods suggested that other third-party wallets could be considered as a precautionary measure.