Ledger, the hardware wallet giant, announces a strategic move to disable blind signing for Ethereum Virtual Machine (EVM) DApps by June 2024. Following a recent exploit resulting in a $600,000 crypto asset loss, the company vows compensation and shifts its approach to enhance user security.
In response to a security breach, Ledger, a prominent hardware wallet manufacturer, is set to disable blind signing for Ethereum Virtual Machine (EVM) DApps by June 2024. The decision follows a recent exploit where a wallet drainer infiltrated a library widely used by DApps connected to Ledger devices.
Ledger, addressing the aftermath, disclosed a theft of approximately $600,000 in crypto assets. To compensate affected victims, the company pledges to cease blind signing practices and advocates for clear signing across decentralized applications. This move is a pivotal step in establishing a new security standard within the ecosystem.
Encouraging DApp developers to support clear signing, Ledger emphasizes its commitment to fortifying user protection and preventing future incidents. The stolen assets, as reported by Ledger, were extracted from users blind signing on EVM DApps.