Project developers have found a critical vulnerability in their wallet for Beam. Beam is a new mineable privacy coin which was launched on January 3rd using the Mimblewimble protocol.

This vulnerability affects both the desktop wallet and the CLI-implementation, and a complete uninstall and reinstall is recommended.

On the existence of a vulnerability, the Beam team made an official statement on Twitter:

According to the assurances of the project team, this vulnerability has no interaction with private keys and passwords, so there is no need to delete the wallet database. But along with this, instructions were provided on how to protect yourself.

“All Beam users are required to follow the procedure below quickly.”

As the project team said, the official investigation will be published soon:

“We will publish as soon as possible the results of our investigation together with a full transcript of the solutions we applied to solve the issue.”