Ledger Wallet Bug

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.

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 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.

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The Coinfirm Team