Over the weekend multiple users reported loss of their funds on their Litemint accounts and we have tracked down the reason to be related to the latest Android Chrome 79 update – https://ww.9to5google.com/2019/12/14/android-apps-data-loss/
Right now the latest update suggests following options for fixing the issue:
by firstname.lastname@example.org on Sun, Dec 15, 2019, 11:01 PM GMT+9.
“We are currently discussing the correct strategy for resolving this issue which will be one of:
a) continue the migration, moving the missed files into their new locations.
b) revert the change by moving migrated files to their old locations.
We will let you know which of these two options have been chosen soon.”
For MAG users affected by this update, we are suggesting to wait until the Chromium team decides how they will approach this problem and we will see after the solution if possible to recover their funds.
While we were investigating the issue ourselves, we decided that it is time to set up a MAG SAFU fund from the MAG we have left over from last swap. MAG team has always made an effort to protect MAG users against scams, hacks, software bugs and in some cases themselves so this is the next logical step. Before we get into details of how to apply for MAG SAFU funds, we have to make clear that this kind of loss of funds is only possible when you do not follow the instructions to SAVE UP YOUR PASSPHRASE! With 24-word mnemonic seed it is always possible to recover your funds so we cannot stress enough the importance to take responsibility for your own funds! Our SAFU fund is around 2 million MAG so if one day it runs out, we cannot help if the user does not take the necessary steps to protect themselves.
Here is the video covering backup and import procedure: