Algorand Wallet MyAlgo hit by $9.6M exploit

MyAlgo has reported being struck by an exploit last week. The native wallet on the Algorand blockchain has advised its users to withdraw funds.

According to Blockchain sleuth ZachXBT, 19.5 million ALGO and 3.5 million USDC worth $9.6 million has been stolen.

Algorand CTO John Woods said that 25 wallets have been impacted and that the exploit is "not the result of an underlying issue with the Algorand protocol or SDK."

MyAlgo said that it does not know the root cause of the exploit.


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