MyAlgo, a wallet provider for the Algorand network, has urged its users to withdraw funds from any wallets created with a seed phrase following an ongoing exploit that led to an estimated $9.2 million worth of funds being stolen.
The company tweeted the advice on February 27, and added that it is still unaware of the cause of the recent wallet hacks.
MyAlgo has encouraged everyone to take precautionary measures to protect their assets. The company also warned of a targeted attack on a group of high-profile MyAlgo accounts that has been conducted over the past week.
According to MyAlgo, users who had mnemonic wallets with the key stored in an internet browser were particularly susceptible to the exploit.