Crypto developer hacks wallet to stop hack
Komodo is able to stop a hack that could have cost its customers almost $13 million
This is the new version of fighting fire with fire. Komodo, a blockchain company that offers a cryptocurrency wallet, recently stopped a hack by hacking itself, preventing what would have amounted to a massive breach and the potential loss of almost $13 million in customer-owned funds.
The threat involved one of Komodo’s earlier crypto wallets, Agama. It contained a vulnerability that could have allowed access to other users’ wallet seeds and, in turn, their assets. An initial security audit identified a malware threat was in place, and Komodo reacted to secure the platform.
In a blog post, Komodo explains, “After discovering the vulnerability, our Cyber Security Team used the same exploit to gain control of a lot of affected seeds and secure the funds at risk. We were able to sweep around 8 million KMD and 96 BTC from these vulnerable wallets, which otherwise would have been easy pickings for the attacker. The safe wallets RSgD2cmm3niFRu2kwwtrEHoHMywJdkbkeF (KMD) and 1GsdquSqABxP2i7ghUjAXdtdujHjVYLgqk (BTC) are under the control of the Komodo Team, and assets can be reclaimed by their owners.”
Anyone still using an Agama wallet should take action to move their funds to another wallet as quickly as possible. Komodo adds, “The latest Verus version of Agama wallet supports Komodo [in] both lite mode and native mode.”
Agama has been discontinued in favor of updated options, but some users are still in possession of the wallet. Those users will continue to be at risk if they don’t move their funds.