Exploring the Impact of Web 3.0 on the EVM Ecosystem After a Ledger Breach

Impact of Attack on Ledger Connector Library

The Linea team of Consensys has reported that the attack on Ledger’s connector library might have an effect on the whole Ethereum Virtual Machine (EVM) ecosystem. The hacker had targeted the Ledger connector library, which was created to facilitate communication between Ledger hardware wallets and several decentralized applications (DApps). MetaMask, a wallet provider, was also affected by the security incident.

According to a post on X, MetaMask released an update to address the issue. The post stated that users on the latest version v2.121.0 would be automatically updated and should be able to “transact again.” People using prior versions were advised to “refresh your site data.”

Apart from MetaMask, other protocols that were affected by the attack include Zapper, SushiSwap, Phantom, Balancer, and Revoke.cash. Certik, a blockchain security firm, informed Cointelegraph that any DApp importing the ledger CDN will automatically execute the drainer code, prompting victims to connect via any wallet they support.

Ledger Security Breach

Ledger, a popular hardware wallet used by many in the crypto community, experienced a security breach after a former employee was phished and their NPMJS account was compromised. The malicious code, which affected versions 1.1.5, 1.1.6, and 1.1.7 of the Ledger Connect Kit, used a rogue WalletConnect project to reroute funds to a hacker wallet.

A fix was released soon after the breach was discovered, but Ledger is warning users to wait 24 hours before using the Ledger Connect Kit again. Blockchain analytics platform Lookonchain reported the hacker had stolen assets worth nearly $484,000, but the impact of the security breach could be bigger.

This incident raises questions about the differences between Web 1.0, 2.0, and 3.0, and how Web 3.0 and blockchain technology can impact business.

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Janice, the widow of John McAfee, is left without financial resources two years after his death and is seeking answers to understand how web 3.0 will impact business, the difference between web 1.0, 2.0 and 3.0, and if blockchain is part of web 3.0. She needs to know the differences between web 1.0, 2.0, 3.0 and 4.0 to find the answers she is looking for.