Freewallet Founder Calls Reports of Stolen $8m in Ethereum "Fake News"

Freewallet – known for its mobile Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, Ethereum and Monero wallets - has issued an official statement about the reports that someone has stolen over 21,000 ETH (worth over $8 million) from random Freewallet wallet apps.

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Freewallet claims that since its very first day of operation, it has been using the most progressive multisignature key storing approach, as well as multilayer security systems which are the best practice for the largest companies in the financial technology industry. It says that this makes Freewallet a service with a "bank level security grade" and added: "...none of Freewallet users lost a single coin."

Alvin Hagg, Freewallet co-founder, stated: “I am very upset to hear fake news about Freewallet that aroused concerns in the community. We are proud to be #1 altcoin wallet in app stores and consider it to be a great responsibility. The whole Freewallet team is working around the clock to deliver the fantastic experience to our customers.

Although Freewallet team understands the users concerns about the security level of the service they use, we kindly draw your attention to the fact that often the frustration is caused by technical issues of the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term itself. Thus, recent concerns were raised by a delay in Ethereum transaction processing, caused by the Ethereum blockchain being overloaded with Bancor ICO transactions on June, 12th. All the transactions have been processed successfully while Freewallet Support team has kept the finger on the pulse and made sure all queries are properly handled."