Ledger Reveals Android Flaw Targeting Crypto Seed Phrases

The post Ledger Reveals Android Flaw Targeting Crypto Seed Phrases appeared first on Coinpedia Fintech News

Ledger’s Donjon research team has identified security vulnerabilities in MediaTek processors (commonly used on Android phones) that allow malicious actors to steal users’ phone pins and their crypto seed phrases within seconds. The attack is said to occur even when devices are switched off.

The team conducted a proof-of-concept test, where they successfully obtained sensitive information pertaining to several software (a.k.a hot) crypto wallets. Victims included Trust Wallet, Kraken Wallet, and Phantom.

Charles Guillemet, the Chief Technology Officer at Ledger hardware wallet company, noted the development as a “reminder that smartphones aren’t built for security.”

Guillemet added that it could have affected “millions” of Android phones, since they dominate global use due to economic and availability factors.