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MetaMask, a cryptocurrency wallet provider, has refuted allegations that an exploit within its wallet is responsible for a “massive wallet draining operation” that has resulted in the loss of over 5,000 Ether (ETH).
On April 18, MetaMask responded via Twitter to a series of posts made on April 17 by Taylor Monahan, the founder of Ethereum wallet manager MyCrypto, who detailed an unidentified wallet-draining exploit that has taken over $10.5 million in cryptocurrency and non-fungible tokens (NFTs) since December 2022.
“Recent reporting on [Monahan’s] thread has inaccurately asserted that a massive wallet-draining operation is due to a MetaMask exploit,” MetaMask stated.
Recent reporting on @tayvano_’s thread has inaccurately asserted that a massive wallet draining operation is due to a MetaMask exploit.
This is incorrect. This is not a MetaMask-specific exploit. https://t.co/MiJ3QgslMy— MetaMask (@MetaMask) April 18, 2023
“This is incorrect. This is not a MetaMask-specific exploit,” it further emphasized.
The wallet provider indicated that the 5,000 ETH was taken “from various addresses across 11 blockchains,” reiterating that the assertion that funds were compromised from MetaMask “is incorrect.”
In an interview with Cointelegraph, Ohm Shah, co-founder of Wallet Guard, mentioned that the MetaMask team has been “researching tirelessly” and that there is “no definitive answer to how this has occurred.”
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“Numerous independent security researchers are also looking into this,” Shah noted.
He suggested it might be reasonable to consider that there had been “some sort of Private Key or Seed Phrase Leak.”
In its recent tweets, MetaMask confirmed that its security team was investigating the origin of the exploit and was “collaborating with others across the Web3 wallet space.”
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In her discussion on the exploit, Monahan remarked that “no one knows how” this extensive attack was executed, but her “best guess” was that a considerable amount of old data was acquired and utilized to withdraw the funds.
She initially claimed that the attacker was targeting long-time MetaMask users and employees by leveraging MetaMask.
Monahan later clarified that the exploit is not specific to MetaMask and that “users of all wallets, even those created on a hardware wallet” have been affected by the exploit.
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