MyEtherWallet to Use Mobile App for Security

As reported, the company introduced MEW Connect, an iOS app that allows users to access their wallet through MyEtherWallet
24 July 2018   549

Developers of the popular wallet MyEtherWallet presented a mobile application MEW Connect, designed to provide secure access to user account. This is reported by TechCrunch.

The application is currently available in the beta version only for users of the iOS operating system. A full release is planned for September at the same time as the version for Android.

MEW Connect works quite simply - instead of using a private key, the using of which may pose a security risk, the user gets a special QR code. In the future, it is planned to add support for TouchID, but at the moment the function is not available. Note that MyEtherWallet uses Apple services to encrypt the application.

The application requires a master password (preferably reliable) when installing, and also provides a set of words to restore it - a similar system is used by Trezor and Ledger hardware wallets.

MEW Connect
MEW Connect
MEW Connect
MEW Connect

That’ll be the best use case for crypto we can implement in the near future. If you want to go mainstream, that’ll be a huge advantage for the whole industry. First, we want people to get used to this MEW Connect concept, scanning a QR code and creating a P2P link.

Kosala Hemachandra

Founder, MyEtherWallet

In February of this year, a split occurred in MyEtherWallet, as a result of which Taylor Monahan and several former members of the MEW team switched to developing the competing wallet MyCrypto.

Ethereum VM May Have Vulnerability

The vulnerability is reported by NettaLab Twitter account
12 November 2018   115

On November 9, a statement appeared in Netta Lab’s Twitter account that the organization discovered a vulnerability in the Ethereum virtual machine that allows to execute smart contracts endlessly without paying for gas online. The researchers also allegedly turned to the operator of the American database of vulnerabilities, where they registered the corresponding discovery.

Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paied.

Netta Lab's Twitter

At Netta Lab's request, Google demonstrates the site of the project, which specializes in auditing smart contracts under the Netta Lab brand, but the Twitter accounts of the projects do not match. Note that the profile that reported the vulnerability was registered in November.

Many users expressed doubts about the authenticity of the information that appeared, but then the creator of the NEO project Da Hongwei said that he spoke with the CEO of Netta Labs and asked the researchers to audit the NEO virtual machine.

Nevertheless, Vitalik Buterin wrote on Reddit that this is a vulnerability in the Python-implementation of the virtual machine, which was first reported on GitHub 9 days ago. This means that the main clients (go-ethereum; parity and cpp-ethereum) are not affected.