Let Me Create Your Crypto Wallet For You …

Would you trust someone who appeared, uninvited, on your doorstep, to change the locks in your home?

And would you trust any old site to create your crypto wallet for you?

Recently it was found that around $4 million — small money compared to the Coincheck hack (which is likely to be over $500 million) — was taken from IOTA wallets.

For this, intruders created a fake Web site to trick users into the creation of wallets, and where they had crafted their site so that it appeared at the top of all searches for the IOTA seed generator (the creator of wallets).

IOTA is a fairly strong cryptocurrency and has a market capitalisation of nearly $7 billion. It currently sits at No 11 in the crypto currency ranking for capitalisation (just one below NEM, and which was the focus for the Coincheck hack):

Overall IOTA has increased in value since Dec 2017, and has followed the trend of many other cryptocurrencies: