Question: is it possible that mew can be hacked, or sold or idk, something happens to it so their platform loses users coins? I’m new to all this, My understanding is that, it stores your keys rly in encrypted way, like a database? So it can be attacked, lost or what not?

Im just looking for a secure way to store my coins without going through hoops of setting up cold wallet, which also doesnt sound so convenient in case i lose the physical storage item let it be paper or ssd card or usb drive. Also just want to store and save my coins, so that it is not in danger of going to payment of some institutions bankruptcy. Also has anyone got feedback or reviews on the offline mew?

Question: is it possible that mew can be hacked, or sold or idk, something happens to it so their platform loses users coins? I’m new to all this, My understanding is that, it stores your keys rly in encrypted way, like a database? So it can be attacked, lost or what not?

1 thought on “Question: is it possible that mew can be hacked, or sold or idk, something happens to it so their platform loses users coins? I’m new to all this, My understanding is that, it stores your keys rly in encrypted way, like a database? So it can be attacked, lost or what not?”

  1. MEW is non-custodial. This means we don’t hold any of your tokens, and we don’t have access to your account. The keys are generated and only live on your device, similarly to a hardware wallet. We get no information about you or your keys, there are no servers, there is no database to hack. You get your recovery phrase, which means you can always import it into any other Ethereum wallet/interface to manage your assets there. (This also means that we can’t help you recover a wallet if you lose your phrase, because we never had that info.) See much more on this in the articles linked:
    https://help.myetherwallet.com/en/articles/5449290-what-happens-if-mew-goes-down

    https://help.myetherwallet.com/en/articles/6077099-what-is-a-non-custodial-wallet

    https://help.myetherwallet.com/en/articles/5377975-how-does-the-mew-wallet-app-protect-my-funds

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