Ledger’s compensation plan not only includes financial restitution but also extends to updating the software on affected devices. By June 2024, users will have the ability to review cryptocurrency transactions in detail before authorizing them, eliminating the practice of blind signing.
The blind signing feature, which prevented users from seeing all the details of a blockchain transaction before approval, was exploited by hackers to carry out their malicious activities.
In an effort to bolster security, Ledger’s development team is actively collaborating with decentralized applications to ensure transparent signing of financial transactions. This proactive approach will enable Ledger hardware wallet users to meticulously inspect and verify transactions on the device itself before finalizing them.
Prior to this announcement, Ledger managed to successfully identify and remove counterfeit code from the Ledger Connect Kit crypto hardware wallet. This discovery averted potential risks to numerous crypto services.