Ledger Hack: Phishing Attack On Former Employee Leads To $484,000 Crypto Heist
Portfolio Pulse from Murtuza Merchant
Ledger, a crypto hardware wallet provider, experienced a hacking incident resulting in the theft of approximately $484,000 in assets due to a phishing attack on a former employee's NPMJS account. The attack involved publishing malicious versions of the Ledger Connect Kit, which diverted funds to a hacker-controlled wallet. Ledger's team responded quickly, deploying a fix within 40 minutes and coordinating with WalletConnect to disable the rogue project. Tether (USDT) froze the bad actor's assets, and Ledger advised customers to use the Clear Sign feature and wait 24 hours before using the Ledger Connect Kit again.
December 14, 2023 | 7:00 pm
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POSITIVE IMPACT
Tether (USDT) took proactive measures by freezing the assets of the bad actor involved in the Ledger phishing attack, demonstrating the company's commitment to security and collaboration in the crypto community.
Tether's decisive action to freeze the hacker's assets could be seen positively by investors and users, reinforcing trust in the platform's security measures. This could lead to a short-term positive impact on USDT's perception, although it may not have a direct impact on the price as USDT is a stablecoin pegged to the US dollar.
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