Ledger, a company that makes physical cryptocurrencies and non-fungible token wallets that look like USB drives or other storage devices, has come under scrutiny by the cryptocurrency and nft communities after a cryptocurrency user claimed to have lost more than 2, 5 million dollars in bitcoin and nft. . In this article, we will explore in depth what exactly caused this massive loss.
Ledger user claims to have lost $2.5 million in btc and nft
In a December 13 blog post, a crypto user identified as @anchor_drops on million and $1.5 million in nfts. This unverified report has sparked heated debate about x, with many Ledger hardware wallet users coming out to defend their wallet provider.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.121951219512″>
Hey <a target="_blank" href="https://twitter.com/Ledger?ref_src=twsrc%5Etfw”>@ledger tonight I lost 10 btc and ~1.5 million nfts stored in my Nano S ledger
The ledger was purchased directly from you. The seed phrase was stored in a secure location and was never entered anywhere online. I never signed any malicious transactions. It's all in my physique…
– Anchor Drops (@anchor_drops) <a target="_blank" href="https://twitter.com/anchor_drops/status/1867384126954979472?ref_src=twsrc%5Etfw”>December 13, 2024
Launched in 2014, Ledger is a hardware wallet creator with crypto and non-fungible tokens, recognized for offering one of the most secure hardware wallets. The company's hardware crypto wallets are multi-currency wallets that store private keys for nfts and cryptocurrencies offline. Ledger is known for its three hardware wallets: Ledger Nano S Plus, Ledger Nano x, and Ledger Stax.
Ledger focuses on creating crypto and nft hardware wallets that are secure for use with digital assets. It requires holders of cryptographic and non-fungible tokens to use private keys to access their digital assets. These private keys, which include long alphanumeric strings of numbers, protect users from thieves and hackers. Ledger offers two hardware wallets: cold and non-custodial.
To make its hardware more secure, the hardware crypto wallet creator has equipped all products with a secure element and a proprietary security operating system designed to protect a user's crypto and nft assets. The security system generates a 24-word, 96-character backup recovery phrase for users to access their cryptocurrency and nft in case the device is lost or stolen. Under these strict security measures, what went wrong?
What went wrong?
The crypto community has drawn attention, and more users have suggested that there could be more details to the story. Some members of the x community have suspected that the loss could have been caused by human error rather than a bug in Ledger's security systems. In the same context, a community member said that if this type of incident was a Ledger failure, many cryptocurrency holders would have lost their funds and reported the matter. The Ledger team responded to this claim and promised to help Anchor Drops.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”13.267692307692″>
Losing funds and nfts is an incredibly distressing experience, let's share some things that we hope can help.
First, it is important to clarify that Ledger's security model is designed to ensure that private keys are generated and stored securely within the Secure Element…
– Ledger (@Ledger) <a target="_blank" href="https://twitter.com/Ledger/status/1867490393354645644?ref_src=twsrc%5Etfw”>December 13, 2024
nft related news:
The Newest Meme Coin ICO – Wall Street Pepe
- Audited by Coinsult
- Early Access Pre-Sale Round
- Private Trading Alpha for $WEPE Army
- Betting pool: Highly dynamic APY
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
