Ledger CEO explains crypto hack and calls it 'isolated incident'.
Ledger CEO explains hack, calls it ‘isolated incident’

Ledger Crypto Hacked

Pascal Gauthier, CEO of Ledger, has addressed the Dec. 14 hack of the wallet provider in a blog post. He described the exploit of Ledger’s Javascript connector library as an “isolated incident” and promised improved security measures.

The hack ran for less than two hours and was deactivated within 40 minutes of discovery and was limited to third-party decentralized applications (DApps). It was made possible after a former employee fell victim to a phishing scam, according to Gauthier. Ledger hardware and the Ledger Live platform were not affected.

Gauthier called the hack “an unfortunate isolated incident” and promised stronger security control. He also warned that hacks of this type could happen to others, but assured that Ledger Connect Kit 1.1.8 is safe and ready to use. Gauthier thanked WalletConnect, Tether, Chainalysis and ZachXBT for their assistance.

The initial estimation of the crypto hack was $484,000, however, Blockaid from Web3 security service informed Cointelegraph that the sum had risen to $504,000 by 8:00 pm UTC. This hack could have an influence on any Ethereum Virtual Machine user that used affected DApps, the firm added.

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