Ledger Crypto Wallet To Reimburse Users After Hack

Hardware cryptocurrency wallet provider Ledger has announced that it will reimburse users who were affected by the Ledger Connect Kit exploit. The company reported that approximately $600,000 in assets were impacted or stolen from users through blind signing on Ethereum Virtual Machine (EVM) decentralized applications (DApps). The exploit occurred on December 14, 2023, compromising several DApps that used Ledger’s connector library, resulting in significant investor losses. Ledger has committed to ensuring affected victims are repaid by the end of February 2024 and will disallow blind signing with Ledger devices by June 2024. The company aims to work with the DApp ecosystem to establish Clear Signing as a new standard to protect users.