Ledger Hardware Wallet Developers Discover Vulnerability in All Devices

Hardware wallets are considered one of the most reliable ways to store cryptocurrency. The most popular products in this field are Ledger and Trezor devices, which have earned the trust of the community and proven their reliability. However, as is well known, absolute security does not exist.

The developers of Ledger hardware wallets themselves have warned users about the discovery of an unpleasant issue affecting all devices produced by the company. According to Ledger representatives, this flaw could theoretically lead to the loss of all funds stored in the wallet.

Details of the Vulnerability

According to the developers’ report, an attacker could carry out a “man-in-the-middle” attack when a user generates a Bitcoin address to transfer cryptocurrency to their Ledger wallet. The process also involves the user’s computer, which could theoretically be infected with malware. This means a malicious actor could interfere and substitute the code, redirecting all funds to their own address.

How to Protect Yourself

The developers explain that Ledger device owners can protect themselves from such attacks by using a fairly simple method. There is an “undocumented” feature in the hardware wallet that displays the receiving address on the device’s physical screen. To use this, press the button with the monitor icon and carefully check the address on the Ledger’s physical display every time after generating it.

Official Recommendations

On its official Twitter account, the company reminds users: “Using hardware wallets does not make you invulnerable,” and recommends always following precautions and basic information security rules.