Jaxx Wallet ‘Vulnerability’: Users Report $400k Funds Thefts

[OmegaStarScream]

Reports are surfacing of a ‘vulnerability’ in Jaxx wallet leading to at least $400,000 customer funds being stolen.

A report on the insufficient wallet backup phrase storage methods this weekend has now updated to include reports that hackers are already exploiting the problem to steal cryptocurrency from users.



After you read the whole article[1], you will come up with the decision of not using this wallet again (most likely). Basically, they have no plans to alter or change the security setup of their wallet. I'd recommend everyone to either stop using this wallet or simply stop storing large amounts.

[1] https://cointelegraph.com/news/jaxx-wallet-vulnerability-users-report-400k-funds-thefts

[TryNinja]

Yeah, I liked their wallet because of the support for multiple coins where you control your private keys. But they had so many issues reported the last few days that I`m starting to wonder if it`s worth the danger.

Just check their subreddit and you will see tons of people with issues unsolved.

https://www.reddit.com/r/jaxx/comments/6gvgx0/ethereum_disappeared_warning/
https://www.reddit.com/r/jaxx/comments/6gvr4h/22_eth_hacked_from_my_jaxx_wallet/
https://www.reddit.com/r/jaxx/comments/6grgx3/jaxx_wallet_missing_money/

[OmegaStarScream]

It clearly doesn't worth it unless you are holding a very small amounts, what is the point of having control over the private keys If it's being sent to their servers as well? There is definitely a lack of transparency when It comes to closed source projects.