Ledger, the cryptocurrency and blockchain asset security company has announced that the Ledger Wallet Bitcoin Chrome application has been updated to give users more control over the security of their transactions. The update is automatic and enables an essential new feature: verification of the reception address directly on the hardware device.
This new feature is addressing a specific issue known in the crypto-community as the “Man in the Middle Attack”.
There has been a recent announcement of a malware-proof of concept that could potentially infect the user’s computer, including, the Ledger Chrome application. In this scenario, an attacker could theoretically change the ‘receive’ address displayed on the (infected) computer’s screen within the Ledger Chrome application.
By enabling users to verify the received address on their device (the only source you can trust), the updated Chrome app provides an additional peace-of-mind. Always verify the received address on a device before communicating it to a third party. No funds are at risk with the update and won’t require any action.
Besides this important software update, CEO of Ledger, Eric Larcheveque, said the company is taking 3 specific actions to make sure users are safe and secure while remaining alert:
- Software updates: the Ledger Wallet Bitcoin Chrome application is the first to benefit from the on-device receive address verification feature. It is available for Bitcoin and all other coins managed by the Chrome app. ETH and XRP apps will benefit from that new feature in the upcoming desktop global release.
- Upgraded Bug Bounty program: Ledger will be growing this quickly – and is still developing and strengthening some of the behind the scenes processes. Highly valuing contributions from security researchers and the community, Ledger pledges to make its Bug Bounty programs faster and more efficient.
- Prevention: the company says it is continuously working on developing resources and materials to help users better understand the threats they face and how they can best secure their assets.
Eric Larcheveque, Ledger CEO said: “Security is an arms race. We’re in it for the long haul and are prepared for it. At Ledger, we take our mission seriously and that mission is to protect you.”
Users are urged to read Ledger’s basic security principles ruleset.