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Author Topic: [GUIDE] How to use MyEtherWallet safely [Security]  (Read 144 times)
Nestade
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May 01, 2018, 05:25:54 AM
Last edit: August 06, 2018, 03:31:43 PM by Nestade
Merited by beginneraf (2), sylance (1)
 #1

Hi,

After the MyEtherWallet phishing-attack some people are concerned using MyEtherWallet.
In the following guide I'd like to show some methods to protect yourself from being a victim of a phising attack.

Some general advice:
- Always make sure to keep the devices you're using to log in to MEW are free from malware.
- Instead of using your private-key directly (which is unencrypted and doesn't require any further authentication like a password) you should always use your keystore-file which is encrypted and requires a password to gain full access*
- Only log in to your MEW if you're planning to do a transaction... Otherwise you can check your balance by using your public-key as authentication-method ('View' > 'View w/ Address Only'). Another way to check your balance are Etherscan and Ethplorer.

As you may already know, MEW ist just an user-interface to the ETH-blockchain - your funds are connected to your private-key and not to MEW itself - you could just use your private-key to access your wallet by using other interfaces.

One of the easiest ways to prevent getting redirected to a phishing-website due to DNS-hijacking is just completely eliminating DNS-related stuff by using the local version of MEW. By doing so we've got our security in our own hands without any possible 3rd party vulnerabilities.

(! This doesn't protect from malware on your local machine !)

Check out this guide on how to run MEW locally:
[SECURITY] Running MyEtherWallet locally

Signing your transactions on another (offline) computer also increases your security as your private-key never gets in touch with the internet.

Here's a guide about offline transactions:
[Guide] MyEtherWallet Offline Transactions


*In case you're storing bigger equivalents of money, you should really get yourself a hardware-wallet like the Ledger Nano S or Trezor.

By the way - you may want to check this out: Increase your internet-speed and your privacy by using Cloudflare's new DNS

Best regards,
Nestade



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May 01, 2018, 05:31:31 AM
 #2

Yeah, i actually using keystore when login to my Myetherwallet it's safe-way to login, and if i'm want to check my balance i'm using etherscan for more simply-way.
anyway thanks for sharing, i hope people will use these safe-way to login in to Myetherwallet
Nestade
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June 07, 2018, 01:38:33 AM
 #3

Yeah, i actually using keystore when login to my Myetherwallet it's safe-way to login, and if i'm want to check my balance i'm using etherscan for more simply-way.
anyway thanks for sharing, i hope people will use these safe-way to login in to Myetherwallet

Hi Smiley

If you're storing your private key on your computer I'd recommend reading this guide I wrote some time ago (encryption):
[SECURITY | GUIDE] How to protect your wallets and private keys

I'd also really recommend getting a hardware-wallet if you're storing large equivalents of money - Hardware-wallets offer a really good protection.

Best regards,
Nestade


More guides:


MyEtherWallet/Metamask

[GUIDE] Exporting your private-key from ImToken, Jaxx, Eidoo and Parity

[GUIDE] How to import your private-key from another wallet to MEW/MetaMask

[MyEtherWallet] Creating a (new) keystore-file using your private-key


SECURITY

[SECURITY | GUIDE] How to protect your wallets and private keys

[SECURITY] Generate your secure IOTA-Seed without using insecure online-generators

[SECURITY] Running MyEtherWallet locally

Making offline transactions on MyEtherWallet (official)



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June 07, 2018, 03:46:20 PM
 #4

I'm using the Metamask extension.  And do not store the keys on the computer, but on the flash drive.  I look through the transactions in Etherscan.  Your guide is useful, I will study in more detail.

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June 07, 2018, 03:52:36 PM
 #5

Yes! it's look helpful for new guys starting research regarding to CryptoCurrency.

I appreciate about this guide. Thank bro.

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June 07, 2018, 04:30:42 PM
 #6

Your guide is very well explained and helpful for all newbie in crypto market.  But you also need add meta mask guide in your post that is also good option for anyone using eth network.
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June 07, 2018, 04:39:22 PM
 #7

Great points and security should be taken seriously.  Your point on using Etherscan is great so I want to stress it again for others.  People should only log into MEW if they need to send tokens.  If you find yourself wanting to check your balance frequently then just bookmark your ETH address on Etherscan.  For instance, this is a bookmark for random ETH address:

https://etherscan.io/address/0x2c6d23e3d4c50bd12ea3be7be828db5ec11f467d

Many benefits.  No worry about logging into a fake MEW page and Etherscan does a great job of applying USD value to the ERC20 tokens in the address as well.

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June 07, 2018, 04:52:23 PM
 #8

Hi,

After the MyEtherWallet phishing-attack some people are concerned using MyEtherWallet.
In the following guide I'd like to show some methods to protect yourself from being a victim of a phising attack.

Some general advice:
- Always make sure to keep the devices you're using to log in to MEW are free from malware.
- Instead of using your private-key directly (which is unencrypted and doesn't require any further authentication like a password) you should always use your keystore-file which is encrypted and requires a password to gain full access*
- Only log in to your MEW if you're planning to do a transaction... Otherwise you can check your balance by using your public-key as authentication-method ('View' > 'View w/ Address Only'). Another way to check your balance are Etherscan and Ethplorer.

As you may already know, MEW ist just an user-interface to the ETH-blockchain - your funds are connected to your private-key and not to MEW itself - you could just use your private-key to access your wallet by using other interfaces.

One of the easiest ways to prevent getting redirected to a phishing-website due to DNS-hijacking is just completely eliminating DNS-related stuff by using the local version of MEW. By doing so we've got our security in our own hands without any possible 3rd party vulnerabilities.

(! This doesn't protect from malware on your local machine !)

Check out this guide on how to run MEW locally:
[SECURITY] Running MyEtherWallet locally

Signing your transactions on another (offline) computer also increases your security as your private-key never gets in touch with the internet.

Here's a guide about offline transactions:
Making offline transactions on MyEtherWallet


*In case you're storing bigger equivalents of money, you should really get yourself a hardware-wallet like the Ledger Nano S or Trezor.

By the way - you may want to check this out: Increase your internet-speed and your privacy by using Cloudflare's new DNS

Best regards,
Nestade




i always using MEW extension in chrome, so from there we can just entering our password to have an access.
So our keystore file and private key is completely safe.
Also it saved in chrome chace so it doesn't need long time to load

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BartS
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June 07, 2018, 05:39:59 PM
 #9

Great guides you are doing a good job, the only problem I see is that you do not really explain how to keep your computer clean of viruses and threats like that, in my opinion trying to keep your computer clean if you are using windows is a lost battle, use Linux instead I know that for some the transition is not easy but Linux has become a lot friendlier over the years and if we use your methods and a Linux distribution the chances you get hacked will drop considerably.

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Nestade
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June 09, 2018, 04:18:02 PM
 #10

Great guides you are doing a good job, the only problem I see is that you do not really explain how to keep your computer clean of viruses and threats like that, in my opinion trying to keep your computer clean if you are using windows is a lost battle, use Linux instead I know that for some the transition is not easy but Linux has become a lot friendlier over the years and if we use your methods and a Linux distribution the chances you get hacked will drop considerably.

Hi,

Thanks for your feedback! Smiley

Well, unfortunately keeping your PC free from malware is a very extensive topic and depends very much on the surfing behaviour of each user.

I'll hand in a good ressource for security-related stuff later if I can remember it.

[If you understand German I'd recommend this Youtube-Channel: https://www.youtube.com/user/SemperVideo]

Best regards,
Nestade

oscarrsm
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June 09, 2018, 08:25:47 PM
 #11

Very useful article. I also use MEW. And I enter my account only when I send the money. On exchanges, I also login only when I trade, the rest of the time I just watch courses and volumes of sales without identification.
Even for those who know this, it's very useful to read again to refresh the memory. The human psyche is such that the sense of danger dulls with time and the person loses vigilance.
Nestade
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June 10, 2018, 07:47:50 PM
 #12

Hi,

If you'd like to get a free 6 month Bitdefender Total Security License check out this link:
https://www.bitdefender.com/media/html/consumer/new/get-total-security2018-opt/?cid=inf|c|Linus|getTSyt

Source: https://www.youtube.com/watch?v=q7ZYdLCzCJM

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