Crypto Wallet-Maker Ledger to Reimburse Hack Victims
- Victims of last week’s software hack lost around $600,000
- Ledger is making other security changes to its devices
A Ledger USB dongle.
Photographer: Marlene Awaad/Bloomberg
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Following a high-profile hack last week, crypto wallet-maker Ledger said it will cover the roughly $600,000 worth of assets lost by victims.
The Paris-based startup’s Ledger Connect Kit software became compromised following a phishing attack on a former employee. The hacker published malicious code that redirected user funds to their own wallet during transactions with decentralized applications, or dapps, that used the affected software. The exploit was widespread, impacting both hardware and software wallets from other providers, as well as popular dapps like decentralized exchange Sushi.