Myetherwallet security is too weak. Any other ERC20 Wallet?

[akmittal]

Yesterday my Myetherwallet hacked and balance Ethereum amount transfered to other MEW.
I backtracked the transaction and found there are many hundred wallets whose amount was also transfered like from my account.
Why Myetherwallet security is too weak?
 Any other ERC20 Wallet?
Give your opinion so that other fellows may be benefited.

[trouble401]

Did you use a ledger or other hard wallet with MEW?  I think if you get one of those you should be good to go.

[michael shikany]

The security of Myetherwallet should be good, I use Imtoken light purse, if you need to pursue more security, then use the hardware wallet.

[aakriti]

The same incidents I listen from my friends so many time. Myetherwallet administration is not upgrading security features. There should be authentication on each transaction.
A new ERC20 wallet is coming soon with advanced safety features. names as LivesOne www.lives.one.   Our group decided to transfer our all Coins to new wallet.

[Doctor.Strange]

Your private keys must be stolen that's why your funds are moved, otherwise its not possible, Mew is just a tool to sign transactions.

[cdb1690]

Yesterday my Myetherwallet hacked and balance Ethereum amount transfered to other MEW.
I backtracked the transaction and found there are many hundred wallets whose amount was also transfered like from my account.
Why Myetherwallet security is too weak?
 Any other ERC20 Wallet?
Give your opinion so that other fellows may be benefited.

Sorry to hear that. That said MyEtherWallet is as safe as it gets. It all depends on your own security practices. Did you or did you not download MyEtherWallet and used it locally? Did you or did you not use MEW in conjunction with dedicated hardware wallets? Did you or did you not use MEW in offline computer/online computer setup? Did you or did you not store you private keys on network connected devices? Did you or did you not sign transactions on network connected devices? And list could go on and on... It's not easy to be your own bank.

[akmittal]

Your private keys must be stolen that's why your funds are moved, otherwise its not possible, Mew is just a tool to sign transactions.

Thank you for writing here on the topic. Without private key it is not possible to transfer funds. But if there is second authenticator for transaction than private key hackers can not cheat.

[qazgroup]

How it was hacked? Have you uploaded you private key at some fake site? Mew cannot be hacked it is only members providing there private key somewhere online. I do agree they need to increase security features, atleast they can introduce 2fa or email login.

[Doctor.Strange]

How it was hacked? Have you uploaded you private key at some fake site? Mew cannot be hacked it is only members providing there private key somewhere online. I do agree they need to increase security features, atleast they can introduce 2fa or email login.

No, if you use UTC file then hack is not possible, UTC private key is encrypted with strong password, hackers cannot crack that password for years.

Hack is possible when you unlock your wallet with private key, do not use private key on mew, always use UTC file which is password encrypted.

[STIKS1911]

Better order yourself a hardware purse-Ledger Nano or Trezor. Safety in crypto currency is more important than all. So order it yourself and your crypto currency will be safe.

[BCSHonda]

I do not think the security on the Myetherwallet wallet is weak, you should be more accurate. Most of my ERC20-based tokens are kept on my MEW wallet and I feel very safe. It's a good idea to save the UTC and private keys carefully and do not let anyone steal, I'm sure your assets are very safe. You should be assured of the MEW wallet because it is used extensively throughout the world.

[akmittal]

Yesterday my Myetherwallet hacked and balance Ethereum amount transfered to other MEW.
I backtracked the transaction and found there are many hundred wallets whose amount was also transfered like from my account.
Why Myetherwallet security is too weak?
 Any other ERC20 Wallet?
Give your opinion so that other fellows may be benefited.

Sorry to hear that. That said MyEtherWallet is as safe as it gets. It all depends on your own security practices. Did you or did you not download MyEtherWallet and used it locally? Did you or did you not use MEW in conjunction with dedicated hardware wallets? Did you or did you not use MEW in offline computer/online computer setup? Did you or did you not store you private keys on network connected devices? Did you or did you not sign transactions on network connected devices? And list could go on and on... It's not easy to be your own bank.

Thanks for providing a lot of methods for securing MEW. But if there is any other 2nd  authenticator in addition with Private key we have no need of additional combinations for the security of MEW.

[Doctor.Strange]

MEW is just a tool to sign your transactions like Electrum, Mycelium or Bread wallet, you hold your private keys in your PC.

[Doctor.Strange]

Bookmark the MEW site, looks like you used any phishing site.

[Selmor]

So normally mew is very secure. What kind of authentication did u use? If you use Key file and you store this file on save PC there can normally happened nothing bad. In most cases people are scammed by using fake mew Domains. Looking similar to the original one.

[akmittal]

I do not think the security on the Myetherwallet wallet is weak, you should be more accurate. Most of my ERC20-based tokens are kept on my MEW wallet and I feel very safe. It's a good idea to save the UTC and private keys carefully and do not let anyone steal, I'm sure your assets are very safe. You should be assured of the MEW wallet because it is used extensively throughout the world.

Dear friend, I was having the same views before my wallet hacked.

[cdb1690]

Thanks for providing a lot of methods for securing MEW. But if there is any other 2nd  authenticator in addition with Private key we have no need of additional combinations for the security of MEW.

If someone has your private keys, he doesn't need MEW to stole your funds. He can use every Ethereum wallet there is. Having two factor authentication on MEW wouldn't help you in any way.

[lizardbtc]

Security is week because it is an browser wallet + you have probabbly used windows or mac. Since windows is the msot used OS out there you can get viruses much easier. When I need to use MEW I do so on my live OS linux. Live OS means that you run your OS through USB or CD and your system is only loaded into your RAM. Therefore I always have fresh system that I know for sure there are no viruses of any kind before I even think of exposing my private key.

As others have stated hardware wallet might be your best bet here.
Never use your main computer (or OS) for security related things, spcially if you haven't cleaned your computer for a while, who knows what might be in there.

Hopefully you haven't lost many coins, but avoid to save your private key and to to your computer if you did this. Bascially even when you don't use MEW if you have file stored somewhere on your computer hackers can potentially get to your private keys.

[slimfit88]

you must remember MEW its not bank, just wallet, my suggestion if you have money dont you keep for long time better you send and withdraw thats money

this list wallets
Blockchain.info for bitcoin
MyEtherWallet for ETH and ERC20
Jaxx or Exodus for multi-coins wallet.

and you must remeber to always clean you PC from virus, and add antivirus internet, and the last dont using public wifi

[cdb1690]

Thanks for providing a lot of methods for securing MEW. But if there is any other 2nd  authenticator in addition with Private key we have no need of additional combinations for the security of MEW.

If someone has your private keys, he doesn't need MEW to stole your funds. He can use every Ethereum wallet there is. Having two factor authentication on MEW wouldn't help you in any way.

To explain a bit further: your funds are not stored on MEW. The balance of each and every Ethereum account is stored on Ethereum blockchain. How does blockchain know who’s an owner of account? It doesn’t know that and it doesn’t care about that. However, consensus protocol won’t allow you to spend funds from any Ethereum account unless you signed transaction spending those funds with a private key corresponding to a public key, whose hash equals to an account address. Since blockchain itself doesn’t have any other security mechanism, there’s no sense in implementing it in MEW.