I came across this article from Coinomi about a statement responding to a Mr Warith Al Maawali who had made a video on how if you used the Desktop Wallet of Coinomi, your restoration of the Coinomi wallet could be jeopardize because of a SPELL CHECKER function which google had.
If you didn’t understand that video, this is what it was explained in the most simplistic manner.
Since restoring a COINOMI wallet requires you to type in a RECOVERY phrase, Google ‘s Spell Checker kicks in and records down all the words you use which is shown in the right hand side of the screen.
This is a large vulnerability which could be exploited by hackers even though Coinomi claims that all information received thru the spell checker does not go anywhere. However its still a vulnerability which is acknowledge by Coinomi.
Here is the full responds from Coinomi in regards to this Spell Checker vulnerability.
Because of this COINOMI started getting a whole series of allegations about lost money in wallets and etc. etc. and the drama of COINOMI and their reputation is on the line.
Here is a reddit article about someone loosing their entire life savings just after using COINOMI wallets
So be careful as to what you use to keep your precious crypto, as people will always find a way to try to get your $$$ and these vulnerability in softwares & systems are consistently put to the test.
Do take necessary precaution in safe guarding your data and for cryptos, do not place it all in 1 wallet, I do suggest to have a bit of diversity in the method of storing your cryptos. And use only companies which emphasize on security.
Had the pleasure of attending Blocklime’s Blockchain Bootcamp today and its always great to attend anything organized by Blocklime Technologies as I always get to learn new things.
Harpreet the CEO of Blocklime Technologies is very well known in the blockchain scene in South East Asia and has been a speaker for many events globally.
I was given the opportunity to share about the STEEM blockchain to several people as they were really interested in STEEM. So I gave them the 20 mins talk and showcase of all the projects where are currently available.
Also had to chance to briefly chat with both Matthew ( left ) from Etherscan and also TM ( mid ) from Coingecko which were next on stage with other panelist.
Its events like these which helps educate the general public about blockchain. I’m glad to be able to meet like minded individuals where we consistently support each other when one of us organize these events.
I do hope that more initiatives like these happens everywhere to educate the general public with the right information and not some ponzi / scam which unfortunately has tarnished the views of “Blockchain” generally.
So today’s hot topic in Malaysia in the blockchain space is not about how the market is doing however it more towards the announcement by the Finance Minister in regards to regulatory matters about funds thru ICOs or “digital currencies”
With this surprise announcement, literally it also places all Crypto exchanges in Malaysia in a chaotic state as there are no clear guidelines set for licensing these exchanges.
The announcement seemed to had come out without proper planning. the announcement was issued out by Ministry of Finance however the executioner would be Securities Commissions and there is no clarity in regulating it.
So in today’s event at Unblock Kuala Lumpur held in KL… It was obvious that the main topic of the day was around ICOs, STOs and how the announcement is effecting the Blockchain scene in Malaysia
I’m sure that the panelist was already expecting these questions however almost all answers would be just speculations.
In the next couple of months, I’m sure there would be more regulatory announcements would be made and guidelines will appear. Let’s hope that it’s for the better and encourage economical growth in Malaysia