Ledger hardware wallet hacked! What is the lesson learned?

Ledger hardware wallet hacked! Before we’re starting this article we should know Why it’s hacked.

Reason of this accident

The attack lasted less than two hours and was stopped within 40 minutes of being discovered. It only targeted third-party decentralized applications (DApps), according to Gauthier – Ledger CEO. The attack was made possible because a former employee was tricked by a phishing scam. The employee’s identity was supposedly found in the hacked code that’s why Ledger hardware wallet hacked. Fortunately, Ledger hardware and the Ledger Live platform were not impacted.

Gauthier mentioned that other people could also experience this type of hack. He assured that Ledger Connect Kit 1.1.8 is secure and available for immediate use.

The hack’s initial size was estimated to be $484,000, but Blockaid, a Web3 security service, later informed Cointelegraph that the amount had increased to $504,000 by 8:00 pm UTC. The company stated that any Ethereum Virtual Machine user who interacted with affected DApps could be impacted by the hack.

So, we can understand this problem. The problem is a former employee was tricked by a phishing scam and DApps.

What is the lesson learned?

If you understand the blockchain, you can know it’s secure and very hard to hack. But human problems and DApps have some problems. We won’t discuss human problems, we will discuss about DApps. The Bridge of DApps will make your wallet insecure. That’s why we should use a hardware wallet. This wallet just only used to store and not connect to any DApps. Ledgar or any hardware wallets are secure if you don’t connect it to any DApps. If you want to use DApps, just make a new wallet and send a little coin to it. And you always have to double-check the address when you send it.

Conclusion

No one wants to have a cyber attack. If you don’t want to lose your money or your coins, knowledge is the best shield for you.