Ledger’s Response to $484K Hack
Ledger has responded to a hack in which an unknown attacker compromised its Connectkit Library and stole $484,000 from wallets, according to onchain intelligence firm Lookonchain. The attack was the result of a phishing attack on a former Ledger employee’s NPMJS account. The attacker then uploaded a malicious bug to the Ledger Connectkit Library, which manipulated the Walletconnect project to redirect funds to the attacker’s wallet. Ledger’s technology and security teams quickly deployed a solution, but the malicious file was active for about five hours. Ledger has collaborated with Walletconnect to disable the rogue project and has released a verified version of the Ledger Connect Kit.
The Timeline of the Breach
The security breach began with a phishing attack on the NPMJS account of a former Ledger employee. The attacker used this access to release a compromised version of the Ledger Connect Kit, which contained a malicious bug targeting the Walletconnect project. The bug allowed the attacker to redirect funds to their own wallet. Once alerted to the issue, Ledger’s technology and security teams acted swiftly to deploy a solution. However, the malicious file remained active for approximately five hours.
Funds Stolen and Response Measures
An onchain analysis platform, Lookonchain, reported that $484,000 was stolen from wallets as a result of the hack. Ledger has not confirmed this figure but did disclose the wallet address associated with the attack. Tether has frozen the attacker’s address, which currently holds $254,000. Ledger is actively working with affected customers and law enforcement to track down the attacker. The company is also analyzing the exploit to enhance security and prevent future attacks. Ledger emphasizes the importance of Clear Signing and suggests using additional security measures, such as an additional Ledger mint wallet or manual transaction parsing for blind signing.
Hot Take: Ledger Faces Security Breach and Swiftly Responds
Ledger, the hardware wallet manufacturer, recently experienced a security breach that resulted in the theft of $484,000 from users’ wallets. The incident was a result of a phishing attack targeting a former employee’s account. The attacker successfully uploaded a malicious bug to the Ledger Connectkit Library, enabling them to redirect funds to their own wallet. Despite the breach, Ledger’s technology and security teams swiftly deployed a solution within 40 minutes of becoming aware of the issue. They collaborated with Walletconnect to disable the rogue project and have released a verified version of the Ledger Connect Kit. Ledger is actively working to mitigate the consequences of the attack and prevent future incidents.
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