Ledger Wallet Bug

Avatar
Ledger Wallet Bug

Coinfirm documents interesting or high profile frauds and hacks that have recently happened and been reported into our networks to show how the AMLT Network can help track and prevent it in the future. Today we conduct an investigation into the Ledger Wallet Bug.

The other week, one of the largest hardware wallet companies in the world, Ledger, issued a warning that their latest software has a bug that was displaying a static unique address to all their users. 

Ledger Wallet Bug_01

The issue was identified at 9:50 am, however, by which time already over 200 ETH was sent to a ‘random’ address (0xc33b16198dd9fb3bb342d8119694f94adfcdca23) by Ledger Nano customers affected by the Ledger Wallet Bug.

Ledger then announced that it does not have access to this account and that it was a bug/glitch which caused the problem. Therefore, the funds sent to this address are lost and cannot be recovered, however, Ledger decided to do a refund to anyone who sent funds there. In total over 280 ETH and $15k worth of tokens were sent to this address before the Ledger Wallet bug was fixed.

Below you can see what the AML Risk Report related to the address looked like before it was reported to us through the AMLT Network. Further below you can see what it looks like afterward.

Coinfirm AML Risk Report Ledger Wallet Bug_02

As we have been unable to find any proof suggesting that this was potentially an internal job or other nefarious action we have marked this address as related to a “Bug” in our platform. 

Coinfirm AML Risk Report Ledger Wallet Bug_03

The Coinfirm Platform and AMLT Network continue to be adopted by more entities and available to more of their users, with that the ability to help limit the number of losses incurred by such bugs improves and further prevents users and companies from taking on potential risk.

If you’re interested in partnering with Coinfirm or becoming an AMLT Network Member then contact us!

Thank you for your continued support and make sure to follow all of our latest updates on Coinfirm’s Twitter, Facebook, LinkedIn and AMLT Telegram Community.

Sincerely,
The Coinfirm Team

About AMLT
AMLT is the token for the AMLT Network and Coinfirm AML/KYC Platform. The first solution allowing the global economy to provide data to fight ransomware, hacking, malware and other online fraud and scams touching the cryptocurrency economy. In return for valid data provided, AMLT Network Members are rewarded in AMLT that can then be used in various ways. Created by Coinfirm, a global leader in regtech for blockchain and cryptocurrency, AMLT not only creates the first system where entities can report addresses and evidence tied to nefarious actors in the economy, but AMLT token can be used for discounted services on the Coinfirm AML/KYC Platform that is already servicing countless ICOs and over 100 companies in both the cryptocurrency and traditional spaces. Network Members also receive privileged access to Coinfirm products such as our tools and panels, the AMLT knowledge pool with exclusive content and materials as well as additional benefits and features, helping them limit exposure to risk and increase transparency for themselves, their clients and the entire digital economy.

Richtopia Top100 Blockchain Organisations

Coinfirm: A Top Blockchain and Regtech Company

AMLT Logo

If you’re interested in partnering with Coinfirm or becoming an AMLT Network Member then contact us!

Thank you for your continued support and make sure to follow all of our latest updates on Coinfirm’s Twitter, Facebook, LinkedIn and AMLT Telegram Community.

Sincerely,
The Coinfirm Team

subscribe to newsletter

    You accept our Direct Marketing & Privacy Policies by submitting your info. Opt-out anytime.











    [ad_id_i][/ad_id_i]
    [adset_id_i][/adset_id_i]
    [ad_name_i][/ad_name_i]
    [adset_name_i][/adset_name_i]
    [placement_i][/placement_i]
    [campaignid_i][/campaignid_i]
    [adgroupid_i][/adgroupid_i]
    [keyword_i][/keyword_i]
    [placement_i][/placement_i]