Ethereum wallet provider steals account keys and cashes out

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.

Now read: Luno’s plans for Ethereum and the future of Bitcoin

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Ethereum wallet provider steals account keys and cashes out