It's been weeks since the crypto world has suffered a significant scandal—meaning we were probably overdue. And sure enough, Thursday brought yet another "you've-gotta-be-kidding" moment when hackers compromised software used to connect Ledger hardware devices to a variety of decentralized applications. This would be roughly equivalent to using a Web2 service like Facebook or Google to log in to a website, and then finding out the log-in code was compromised and that hackers could steal your account data.
The debacle was short-lived as Ledger issued an update to its software around five hours later, though cybersecurity folks are warning people to be cautious about interacting with apps for now. The hacker reportedly drained over $500,000 from various wallets, though, in a sign the crypto industry as a whole is behaving more responsibly, the stablecoin issuer Tether froze a portion of the stolen funds.
