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CDS Crypto News Ledger Library Hack Affecting DApp Cryptos Resulted in $484K Loss

Crypto News

Ledger Library Hack Affecting DApp Cryptos Resulted in $484K Loss

Regulations have started to be made for the Ledger library attack affecting DApp cryptos.

lectertodd15/12/20231 Mins read443

Ledger Library Hack Affecting Dapp Cryptos Resulted In $484K Loss

Crypto News – Approximately $484,000 worth of assets were stolen by hackers targeting Ledger‘s connector library.

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Ledger Library Hack Affecting DApp Cryptos Resulted in $484K Loss

The scope of the theft was originally reported by Lookonchain’s blockchain analysis experts.

The persistent difficulties in safeguarding digital assets are brought to light by this occurrence. In order to protect against such weaknesses in the crypto environment, it emphasizes the necessity of ongoing awareness and proactive steps.

Several well-known decentralized applications (DApps), such as Phantom, SushiSwap, and Zapper, had immediate effects from the intrusion. As a result, MetaMask released a fix to lessen the danger to its users. By being proactive, they made sure that users who had the most recent software version were safe.

Ledger Issues Statement on the Hack

Ledger reported the removal of the malicious file and its replacement with a secure version about three hours after the occurrence.

Since then, the vulnerable library has been disabled by several protocols. Furthermore, Tether acted decisively by blocking the exploiter’s IP address. Paolo Ardoino, CTO of Tether, has taken a step that shows the cryptocurrency industry is committed to protecting users from fraud and maintaining security.

Sources:cryptotimes

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Lectertodd is 28 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.