FEGex Grafene Wallet Comes Under Attack, 2FA Blocks Hack

The Grafene Wallet remains intact days after being compromised by FEG in a bid to showcase its effective 2FA product.

Effective 2FA Technology

Feed Every Gorilla (FEG) introduced its innovative Two-factor Authorization (2FA) technology—Grafene—to the public during the Dubai Crypto Expo 2022 event. The Decentralized Finance (DeFi) project published the seed phrase to a wallet (Grafene Wallet) holding $100,000 worth of $FEG and called on users to try and remove the funds. 

Grafene is FEG’s 2FA Crypto wallet in the works with state-of-the-art blockchain security. The innovation implies that attackers will not be able to steal your funds even when they have your private key. The protocol organized the $100,000 challenge on March 16 to prove the Grafene Wallet’s effective 2FA protection. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/fegtoken/status/1504039208486322180&image=https%3A//abs.twimg.com/errors/logo46x38.png

FEG, on March 21, over a week after unveiling the seed phrase, disclosed new failed attempts to remove the funds from the compromised wallet: 

“Today’s attempts at hacking our $100,000 wallet found at grafene.com are still proving the effectiveness of our #2FA tech!” 

Numerous failed attempts to steal the $100,000 fund | Source

The challenge is still ongoing, and nobody has been able to withdraw the funds successfully. Also, the secure Crypto Wallet is not yet launched by the project with the best DeFi technology, and the Grafene website still has the seed phrase and contract address.  

Due to the huge amount of interest in the protocol’s upcoming technology, some individuals tried to represent Grafene Wallet on Twitter. FEG was quick to fish out two fake accounts acting as official Twitter pages of Grafene. The protocol reminded users that there is no official Twitter account for Grafene Wallet. Thus, users should get all information about the technology from the FEG Twitter page. 

Both accounts have been reported, and users should remain vigilant. As stated above, only FEG’s Twitter page is associated with Grafene. 

What Feed Every Gorilla?

FEG explains the main idea behind its token is to provide a decentralized transaction network that operates on the Ethereum blockchain and the Binance Smart Chain. A hyper-deflationary token, FEG has a maximum circulating supply of 100 quadrillion on both the chains above, including an inaccessible burn wallet. A 2% transaction tax is distributed among all holders based on the percentage of ownership, including the burn wallet, which acts as a holder that collects tokens over a period in which transactions occur. The team is keen to stress that there is no burn limit, and with this being the case, users will enjoy a ‘never-ending cycle of passive income with positive price pressure.

Where to Find FEG:

Website | Twitter | Telegram

Source : bsc.news

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