Cronos

Security

<ul>
 <li>Many DeFi protocols were affected by the supply chain assault on Ledger ConnectKit.</li>
 <li>Kyber and RevokeCash swiftly deactivated their front ends in response to the threat.</li>
</ul>
A surprising event occurred in the Decentralized Finance (<a href="https://thenewscrypto.com/solana-sol-market-cap-to-be-breached-by-this-rival-defi-token/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a>) arena when the Ledger ConnectKit was the victim of a supply chain assault, which resulted in a rug-pull security compromise.
Malicious code injection into different Decentralized Applications (dApps) is possible due to the vulnerability, which has been dubbed a “supply chain attack.” This puts users and their assets at considerable danger. Web3 security company <a href="https://blockaid.io/" target="_blank" rel="noopener noreferrer nofollow">Blockaid</a> has identified LedgerHQ’s ConnectKit, notably versions larger than 1.1.4, as the compromised package in the assault.
As per Ledger, a former employee of Ledger was hacked this morning and their NPMJS account was compromised as a result of a phishing effort. A hacker’s wallet was redirected to by the malicious code using a rogue WalletConnect project. In an effort to identify the perpetrator, the company has said that they would be collaborating with the&nbsp;police and submitting a formal complaint.
<h3 class="wp-block-heading" id="h-multiple-protocols-affected">Multiple Protocols Affected</h3>
Many DeFi protocols were affected by the supply chain assault on Ledger ConnectKit. Some of the decentralized exchanges that Blockaid identified as being susceptible were Kyber, <a href="https://thenewscrypto.com/sushiswap-v3-launches-on-avalanche-redefining-liquidity-provision/" target="_blank" rel="noopener noreferrer nofollow">SushiSwap</a>, RevokeCash, and Zapper.
Moreover, Kyber and RevokeCash swiftly deactivated their front ends in response to the threat. Notably, this vulnerability was discovered shortly after <a href="https://kyberswap.com/" target="_blank" rel="noopener noreferrer nofollow">KyberSwap</a> was hacked, leading to the loss of around $46 million worth of cryptocurrency.
The rapid and extensive effect of the assault is shown by Blockaid’s estimate of almost $150,000 lost within only a few hours. The security company has already assured Blockaid-enabled wallet users that they are safe from this particular assault, but the hack’s ramifications might be disastrous for the Web3 ecosystem as a whole.
The Ledger ConnectKit software library was hosted by a particular Content Delivery Network (CDN), which is where the vulnerability originated.
A statement from Ledger confirmed the breach and assured customers that a legitimate version of Ledger ConnectKit is being sent to replace the malicious file. This was in reaction to the attack. Additionally, a software patch has been created to fix the issue.
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Ledger ConnectKit Breach Sparks DeFi Protocols’ Security Crisis

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