An online Ethereum wallet called Ethereum Chamber is stealing user account keys and taking user funds, according to reports. Online Ethereum wallets allow users to store their cryptocurrency without relying on a hardware-based solution. After registering for an online wallet and receiving an unencrypted private key, users can access their funds from anywhere through a website. However, this can increase the risk of your funds being stolen – as the website can set up its code to copy user keys to its database. This allows the site administrator to access the contents of user wallets without permission. This is reportedly what happened with Ethereum Chamber, an online wallet recently launched. MyEtherWallet, an open-source online wallet provider, tweeted a warning that Ethereum Chamber users were having their private keys stolen. Sources speaking to ETHNews analysed the wallet’s code and found that the site was stealing wallet private keys. ETHNews asked Ethereum Chamber to comment on the allegations, and the wallet provider responded with the following: Theft is illegal. We don’t condone illegal activities. Lol The webpage through which users could access their online wallets has since been updated to display the following music video. VIDEO Subscribe to our daily newsletter
Online Ethereum wallet Ethereum Chamber has been accused of stealing user account keys and putting funds at risk of unauthorised withdrawal, according to open-source wallet provider MyEtherWallet. Users can access their funds in any location via a website, however, the website can create a code that copies users' keys to its own database, thus giving the site administrator access to users' wallets.