Ex-MEW co-founder attempts re-brand to "MyCrypto" overnight, annexing the MyEtherWallet social media handle with no notice to the community. No approval from MEW co-founder @kvhnuke_ was given.

Update 07h20 UTC, 10th February, 2018: There has been an ongoing court case between Kosala "kvhnuke" and Taylor "tayvano" since December, 2017. A full breakdown of the case provides some context and background for the sudden split the community are seeing now.

The MyEtherWallet social media account handle has changed to @MyCrypto with zero notice, and without the permission of MyEtherWallet co-founder  @kvhnuke_.

Ex-MEW co-founder Taylor Monahan is claiming "a new beginning" under the new handle and company name MyCrypto . The sudden and previously unannounced switch has caused immense confusion throughout the crypto space, leaving users outraged at the lack of transparency. The launch article for the newly formed MyCrypto fails to acknowledge the social media account hijacking, done without the blessing, notice or even begrudging permission of MEW co-founder @kvhnuke_.

In response to the fallout, Taylor came out with this message under the co-opted MEW social media account:

The response, despite claims of being "frank", fails to acknowledge the fact that the handle change was done without permission of all claimants to the brand name, and with zero notice to the community.

These are a few examples of the community outrage, from both a professional standpoint for the future of MEW, and on a personal level due to the poor conduct and lack of transparency:

The majority of comments follow the same theme: feelings of outrage, betrayal and confusion.

Upon seeking a response from MyCrypto & Taylor on the lack of transparency, this was the only answer as of press time:

Bear in mind that private keys and other confidential information are not stored on MEW, but rather it simply acts as an interface for the user to interact with their funds. Having said that, Crypto Insider takes no accountability for the stability of the codebase on any newly formed sites, and recommends users take no action until the dust settles.

The fallout from this will certainly hurt the brand name of both MyEtherWallet and MyCrypto until the air is cleared by the instigating parties.

This is a lesson to all on how NOT to re-brand. Stay tuned to this space for updates and developments.

Update 12h50 UTC, 9th February, 2018: Co-founder of Boost VC removes tweet endorsing MyCrypto launch

Update 14h20 UTC, 9th February, 2018: Boxmining's take on the matter

Update 20h10 UTC, 9th February, 2018: Title of article changed for clarity

Update 07h10 UTC, 10th February, 2018:

MyEtherWallet's official response

Key quote:

...During the transition yesterday, however, MEW’s Twitter account was switched from @myetherwallet to @mycrypto, and tens of thousands of MEW followers were left scratching their heads. Indeed, the change was unexpected, and I’m still in the process of determining the justification behind the switch, and how this issue will be resolved.

MyCrypto's official statement

The team working at MyCrypto is the same team that has managed MyEtherWallet’s Twitter handle for the past three years. The content that has been shared on @MyEtherWallet since 2015 is the thinking of the team that now makes up MyCrypto.

The Twitter followership plays an important role as a security beacon and relayer of important information during community-emergency-type events. With this in mind, the operators of the account made the decision to keep the Twitter followership under the control of those who have the track record of executing its duties faithfully and in line with the needs of the community.

Featured image from Shutterstock

Disclaimer: the views expressed here are those of the author and do not necessarily represent Crypto Insider.

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Editor at Crypto Insider. Likes decentralization, fungibility and BIPs. Dislikes red tape, corporate stuffiness and oxidation

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