Ledger Crypto Wallet Reimbursing Users After Connect Kit Exploit
Ledger crypto wallet vows to reimburse users after Connect Kit exploit

Ledger Connect Kit Exploit

Hardware cryptocurrency wallet provider Ledger has revealed that it will reimburse all users affected by the Ledger Connect Kit exploit. On X (formerly Twitter), the firm reported that around $600,000 worth of crypto assets had been taken or compromised through blind signing on Ethereum Virtual Machine (EVM) decentralized applications (DApps).

The incident occurred on Dec. 14, 2023, and involved multiple DApps that utilized Ledger’s connector library, such as SushiSwap and Revoke.cash, resulting in substantial losses for investors. Ledger has now stated that it will make sure that those affected will be fully compensated.

The firm declared: “We will ensure that all victims are made whole and repaid.”

Ledger will discontinue blind signing with its devices by June 2024 and transition to Clear Signing. This will ensure that users can verify all their transactions on Ledger devices before signing. As part of this commitment, Ledger will collaborate with the DApp ecosystem to ensure a smooth transition to Clear Signing.

“We are dedicated to working with the community and DApp ecosystem to promote Clear Signing and a new standard of protection for users,” the announcement added.

The crypto wallet provider is also determined to leverage web 3.0 decentralized technology to power its ledger crypto and enhance the function x crypto experience for its users.

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