News “Stop Using Monero App On The Ledger Nano S,”...

“Stop Using Monero App On The Ledger Nano S,” Warns Ledger’s Lead Developer – A Bug Can Compromise Funds

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A lead developer with the hardware wallet company Ledger has just issued a warning.

He is telling users to stop using the Monero app on the Ledger Nano S.

Users can lose funds

He said that there had been some support issues reported and they are currently investigating what happened.

It seems that there has been reported the existence of a bug that can lead to losing users’ funds.

The developers have initially believed that the issue could be linked to a sync problem, but they have confirmed that this is not the case.

The bug was first mentioned when a Redditor created a post claiming that they lost 1,680 XMR worth $81,000.

Reddit debate

Someone asked: “Is it wallet software which, while processing a ‘send,’ is also responsible for including a correct and valid change address linked to the sender’s private key?” and the moderator responded yes.

When the same person asked “So if the wallet software screws up in this step and includes an incorrect (but valid) monero change address, then the change gets sent to this incorrect address and becomes inaccessible to the original sender because it cannot be accessed with their private keys? Is this a fair description of the issue that has been found?” the moderator responded, “We don’t know exactly what happened here.”

And eventually when the Redditor said “If so, I cannot believe how such a bug could escape being detected in testing as it appears to be a very basic wallet functionality,” the moderator responded with:

“The bug is, most likely, triggered by an edge case. Furthermore, multiple people tested the new version and did not incur any issues.”

We recommend that you follow the thread on Reddit.

Monero was in the spotlight recently after Riccardo Spagni addressed some subjects involving the privacy-oriented coin.



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