Ledger Security Incident: Users Turn to Trezor for Safer Crypto Wallets
A recent security incident at Ledger, a provider of cryptocurrency custody solutions, has led many users in the crypto community to consider switching to Trezor, a competitor that also produces non-custodial wallets. The incident involved an attack on Ledger’s connect kit library, which put the funds of millions of users at risk. However, Ledger’s team was able to thwart the attack by installing a fixing patch.
Ledger Storm: Millions of Users’ Crypto Wallets at Risk
The security incident began when a former Ledger employee’s Github account was compromised, allowing malicious individuals to install a malicious version of the connect kit library. This library is used by decentralized platforms to connect with Ledger wallets. The malicious code was spread through CDNs and affected anyone who interacted with the Ledger wallet connect library on December 14th. Users who connected during that time were at risk of having their wallets emptied.
Trezor Alternative: Features and Security
Trezor is a non-custodial hardware wallet that offers security and transparency. It allows users to hold their crypto without entrusting their private keys to third-party entities. Trezor offers three different models, each supporting over 800 coins or tokens. The wallets use open-source code, providing better control over bugs and faster issue resolution. One difference between Trezor and Ledger is the presence of a secure element chip on all Ledger devices, which enhances security. Trezor also allows users to connect with the anonymous browsing software Tor for added protection.
Hot Take: Choosing Between Ledger and Trezor
After the recent security incident at Ledger, many users are considering switching to Trezor for their crypto wallet needs. Ledger’s reputation has taken a hit due to the incident and previous controversies. Trezor, on the other hand, has always prioritized security and transparency. Both wallets have their strengths and features to consider, but Trezor may be seen as a safer alternative by users who value open-source code and a focus on security.
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