Monero Community Crowdfunding Wallet Hacked of $460,000 - TheNewsCrypto (thenewscrypto.com)

submitted 1 year ago* (last edited 1 year ago) by Saki@monero.town to c/monero@monero.town

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Nothing really new for us. Just one of the earliest media reports for the record.

Edit (2023-11-06): Apparently, one of the earliest reports about the incident by general (“outside”) media is, Monerujo Wallet User Drains Monero’s CCS Wallet: Report [blocking Tor: archive.org], at 2023-11-05T07:20+00:00.

It’s interesting to see how general people are looking at this, and relatedly how they are thinking about Monero, although generally what’s written there is nothing new nor helpful for us (often disturbingly inaccurate even). For this reason I posted a few random links to related articles. You can add more and comment on it, if there are anything interesting or especially stupid 😖

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[-] Saki@monero.town 3 points 1 year ago* (last edited 1 year ago)

Security breach unveiled: Monero’s CCS wallet drained of $460,000

the incident has raised questions about the security of Monero’s blockchain and the effectiveness of its privacy features

Imho this is primarily related to security—and not Monero’s security features in general, but how an individual user handles things. (If for example a user publicly shows their private key on their website, any strong cryptography can’t magically protect them.)

Obviously security and privacy are different: because Monero is private, the attacker was able to “safely“ do this.

The exploit of CCS wallet has prompted concerns about the security of the Monero network. Privacy is a central tenet of companies design, but this incident has raised questions about whether the privacy features can be exploited.

Obviously it’s not about the security of the Monero network. Something local. Plus, because of being privacy first, Monero is in a way more “convenient” for attackers.