Hackers Stole $4M in IOTA

Hackers used information from seed generation website
22 January 2018   1087

IOTA Community faced with hacker attack. Around $ 4 000 000 was stolen with the help of malicious websites providing users with a new wallet seed. This is reported by CCN.

When creating an IOTA wallet, users need to create a seed-key, consisting of 81 characters. Many users preferred to use online generators for such keys - websites that create passwords.

One of the sites passed information to scammers. Those used seed-keys and emptied the wallets of users. 

The attackers knew the seeds. You invited them into your wallet, by handing them your keys on a silver platter. The community of fullnode operators is discussing various strategies to better protect public community nodes from this specific and similar DDoS attacks in the future.

Ralf Rottmann
OTA Evangelist Network [IEN] member

The IOTA community encourages users to change elements of the seed in order to prevent any vulnerabilities. They have also been repeatedly pointing to the fact that the vulnerability has nothing to do with IOTA’s technology, and rather just seed generating services.

PoWaaS For IOTA Wallets to be Released

A free solution called powsrv.io is designed for wallets and applications
27 August 2018   1322

The development team introduced a new PoWaaS client (PoW-as-a-service) for fast transactions IOTA network tranactions.

A free solution called powsrv.io is designed for wallets and applications, and also works in conjunction with a hardware accelerator for mining devices with weak computing power Pidiver.

Fast and efficient PoWaaS (PoW-as-a-service) for your IOTA wallet, MAM-stream or any IOTA usecase requiring fast transaction turnout. Don't overheat your CPU/GPU by doing IOTA PoW locally, instead use our solution to access consistently fast hashing power. Perfect for low-power IoT devices, mobile and desktop solutions. 


Get more info at GitHub.