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Warning of Security Risks: Endangered ieWallets of Infinity-Economics

The author deems it important to highlight a potential security risk regarding some ieWallets on the Infinity-Economics platform, particularly when associated with CPCoin from Crypto Performance.

Initially, Crypto Performance utilized the Infinity-Economics blockchain, but later, for inexplicable reasons, decided to operate its own blockchain through a fork from Infinity-Economics.

The previously held coins from Crypto Performance in Infinity-Economics are now set to be credited on the new CPCoin blockchain. For this, a SmartWallet had to be created on the Crypto-Performance blockchain beforehand, and then the SmartWallet ID was communicated to Crypto Performance.

So far, so good

However, unauthorized transactions have been detected recently on various CPCoin SmartWallets, including an emptying of the author's SmartWallet. It is evident that these transactions were carried out by third parties.

These incidents can occur only in two ways: either the SmartWallet of Crypto Performance is not fully decentralized, or there is a possibility that passphrases in the CPCoin SmartWallet can be intercepted. Another explanation for unauthorized transactions is currently unknown, especially as Crypto Performance has not provided any clarifying answers so far.

It is also known that some CPCoin members have created a SmartWallet with the same passphrase they used in Infinity-Economics. If there is a possibility that the passphrase has been intercepted, there is also a risk for the ieWallet in Infinity-Economics, as the corresponding passphrase is known and thus the ieWallet could be compromised.

In such a case, we strongly recommend transferring all coins and assets immediately to a newly created ieWallet to avoid potential harm.

We would like to point out that the exact causes of these unauthorized transactions are currently unknown. Nevertheless, for security reasons, we recommend transferring all coins and assets to another, potentially newly created ieWallet.

This article will be updated accordingly as soon as further information becomes available.


About the author 


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January 11, 2023


October 16, 2022

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