NEAR Web Wallet Halts Email and SMS Wallet Recovery Due to Recent Wallet Hacks

NEAR Web Wallet Halts Email and SMS Wallet Recovery Due to Recent Wallet Hacks
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    Due to the recent wallet hacks on other platforms, Near wallet announced today, it will be halting SMS and Email wallet recovery service on it’s platform.

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    “The recent have brought to light potentially serious security issues connected to the use of common analytics tools in Web3. In light of those hacks, we are sharing a perspective on a recent experience involving similar tools.”

    Near explained that on June 6th, 2022, the NEAR Wallet team received a bug report indicating that sensitive information had been shared with a third party. The issue was fixed promptly the same day.

    Read Also: Solana Wallet Exploit On-going, Users Advised to Move Funds to FTX.

    While the team was aware of this threat, and careful to sanitize data collected by the third party service, a code change nevertheless resulted in the collection of sensitive data for some users, like yourself, who had used email or SMS recovery with their wallets.

    The platform’s wallet team immediately remediated the situation, scrubbed all sensitive data, and identified any personnel who could have could access this data.

    Though until now, there are no indicators of compromise related to the accidental collection of this data, nor do the company have reason to believe this data persists anywhere.

    Despite having no evidence of compromise, Near recommends that users rotate their keys.

    This can be done by visiting, either by enabling a Ledger device (your most secure option and highly recommended) or enabling passphrase security. After doing this, users should disable email or SMS recovery.

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