Ledger crypto wallet promises to reimburse users after Connect Kit exploit.
Hardware cryptocurrency wallet provider Ledger says it will compensate all affected users after the Ledger Connect Kit exploit.
Ledger took to X (formerly Twitter) on December 20th to announce that it was aware of nearly $600,000 worth of assets damaged or stolen from users by blindly signing Ethereum Virtual Machine (EVM) decentralized applications (DApps).
Several decentralized applications ledger's connector library – including SushiSwap and Revoke.cash – were hacked on December 14, 2023, causing huge losses for investors.
According to the new announcement, Ledger will ensure that the affected victims are fully compensated and compensated. The organization said:
We are committed to making sure that this is done by the end of February 2024, by all means, including goodwill gestures. We have already contacted many users and are working with them in detail.
In addition, Ledger will continue to work with the DApp ecosystem to allow transparent signatures, but will no longer allow blind signing with Ledger devices. Ledger expects to sunset on a blind signing in June 2024.
“Our commitment is to enable clear signatures to work with the community and DApp ecosystem so that users can verify all transactions on ledger devices before signing. This will lead to a new standard to protect users and encourage clear signatures across DApps,” the announcement added.
This is a developing story, and more information will be added as it becomes available.
