Algorand (ALGO) CTO addresses community concerns about recent exploit ALGO $ALGO
According to Woods, the exploit, which impacted over 25 accounts, remains under investigation. However, while the investigation is ongoing, he advises MyAlgo hot wallet users to consider rekeying to a ledger or other third-party wallet as a precautionary measure.
1/n Update on the exploit impacting ~25 accounts: from our investigation, this is not the result of an underlying issue with the Algorand protocol or SDK.Rekeying is a feature of the Algorand blockchain that is akin to"changing passwords." The Algorand CTO stressed that the exploit did not result from an underlying issue with the Algorand protocol or SDK. He said that once the investigation is concluded, he will share an explainer video covering how the exploit happened and how users can safeguard themselves in the future.The Algorand-focused developer collective's Twitter account, D13.co, shared a preliminary advisory report on the Feb. 20 Algorand thefts.
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