In response to a recent security breach in Ledger’s code library, the hardware wallet provider has taken swift action to mitigate potential losses and strengthen security measures. The breach exposed popular integrated protocols to potential vulnerabilities, resulting in approximately $600,000 in stolen assets from users of EVM DApps. Ledger has pledged to compensate those affected and is committed to addressing the hack and preventing future incidents.

Ledger has announced plans to collaborate with the DApp ecosystem to enable Clear Signing and discontinue Blind Signing with Ledger devices by June 2024. This move aims to establish a new standard for user protection and promote Clear Signing across DApps. The company is actively communicating with affected users to finalize compensation details, which will be provided through various means, including goodwill gestures, by the end of February.

The statement also highlights the threat of social media bots, which target users by offering assistance and leading them to fake addresses, Telegram accounts, or phone numbers. These bots eventually pose as technical personnel from the relevant company and attempt to coax users into revealing their recovery words. Ledger advises promptly blocking any accounts requesting recovery words or directing users to counterfeit websites to protect their assets.

It is important to note that cryptocurrencies carry high volatility and risk, and investors should conduct their own research before making any investment decisions.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Ledger
Currencies	Ethereum, Bitcoin, metamask, Power Ledger
Securities	None