On Thursday, December 14, a hacker stole more than $600,000 from Ledger customers who were connected to one of its services, the Ledger Connect Kit.
After the storm, Ledger wants to reassure its customers. French unicorn hears to reimburse the victims of the hack of one of its features that occurred on Thursday, December 14, by the end of February 2024. Over $600,000 worth of cryptocurrency was stolen from users during this hack.
Ledger is also committed to strengthening the security of its users when they connect their cryptocurrency wallets to decentralized applications. By the end of June 2024, customers will no longer be able to perform so-called “blind-signing” as opposed to a clear signature when connecting to decentralized finance (DeFi), the company said.
“Our commitment is to work with the decentralized application community and ecosystem to enable clear signing so that users can verify all transactions on Ledger devices before signing. This will lead to a new standard for protecting users and supporting clear signing in decentralized applications,” Ledger points out.
On Thursday, December 14, crypto company Ledger faced a security breach on its Ledger Connect Kit, a Javascript library that allows users to connect decentralized applications to their crypto wallets. This incident occurred because a former Ledger employee fell victim to a phishing attack that allowed a hacker to release a malicious version of the Ledger Connect Kit. The malicious code then allowed customers’ funds to be redirected to the hacker’s wallet.
Since the hack, Ledger has filed a complaint and intends to track down the malicious actor. Founded in 2014, Ledger specializes in the design of so-called “non-custodial” cryptowallets, which allow users to be masters of their private keys (for cryptocurrencies), unlike “custodial” wallets (often offered by centralized exchange platforms, e.g. such as Binance and Coinbase). Ledger claims to have sold a total of 6.5 million crypto wallets and serves 100 corporate clients. It means securing 20% of all cryptocurrency assets and 30% of NFT v world.