Ledger CEO says attack was an ‘unfortunate isolated incident’

The attack happened after a former employee was phished, giving the attacker access to Ledger’s package manager


fotaro100/Shutterstock and Adobe modified by Blockworks


Ledger CEO Pascal Gauthier addressed the “supply chain attack” on its Ledger ConnectKit in a post on Thursday.

“The standard practice at Ledger is that no single person can deploy code without review by multiple parties. We have strong access controls, internal reviews and multi-signature code when it comes to most parts of our development. This is the case in 99% of our internal systems. Any employee who leaves the company has their access revoked from every Ledger system,” Gauthier said

However, that was not the case on Thursday morning when a former employee was the subject of a phishing attack, giving the hacker an open door to Ledger’s package manager. It’s still unclear how the employee had maintained access to the system. Ledger did not immediately return a request for comment asking for clarification. 

Read more: Ledger says attacker conducted phishing attack on former employee

“This was an unfortunate isolated incident,” Gauthier continued. “It is a reminder that security is not static, and Ledger must continuously improve our security systems and processes. In this area, Ledger will implement stronger security controls, connecting our build pipeline that implements strict software supply chain security to the NPM distribution channel.”

Gauthier also said that Ledger would increase security around dapps that enable browser-based signing. Throughout communications on its X account on Thursday, Ledger’s official account promoted clear-signing transactions. 

According to Ledger’s site, “with Transparent and Clear-signing, you are given a transformed version of the original data,” making it easier for the user to understand what they’re signing.

The incident was first reported Thursday morning, with decentralized exchange SushiSwap raising a red flag. The exchange took its front-end web app offline after the warnings, and told users to refrain from engaging with unexpected “Connect Wallet” pop-ups. 

Revoke.cash, which also took its front-end offline, was also impacted according to cybersecurity firm BlockAid.

Soon after, Ledger said that it had deployed the genuine ConnectKit and worked with WalletConnect to take down the malicious code “within 40 minutes of discovery.” According to a timeline from the firm earlier Thursday, the exploit was active for roughly 5 hours.

Tether CEO Paolo Ardoino also posted on X that the attacker’s address was frozen.

“Ledger has engaged with authorities and is doing all we can to help as this investigation unfolds. Ledger will support affected users in helping to find this bad actor, bring them to justice, track the funds and work with law enforcement to help recover stolen assets from the hacker,” Gauthier said.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit