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- Dear Reader,
- We wanted to make you aware of a potential vulnerability in the Ledger hardware wallet. If you use a Ledger wallet, here’s what you need to know to protect yourself.
- The Ledger hardware wallet is a cold storage device where you can store your cryptocurrencies offline.
- While cold storage is the generally the most secure place to keep your cryptos, you are responsible for making sure your information to access them is kept secure.
- When you send coins to your Ledger wallet, your device creates a new address to receive the coins.
- A hacker could infect your computer with malware that changes your receive address. That means your cryptocurrency would be sent to the hacker and not yourself.
- Fortunately, the solution is easy. Here’s the process you need to follow every time you get ready to send coins to your Ledger wallet.
- Open your Ledger wallet app.
- Each time you generate a new address, you will notice a small “monitor” icon. See the picture below.
- image
- Click the monitor button. It will display the receive address on your hardware device.
- Verify that it’s the same address as on your screen.
- To be safe, make sure to go through the address validation process each time you send cryptocurrency to your Ledger wallet.
- Remember, it is your responsibility to keep your keys and passwords secure and to check the addresses to which you send your tokens.
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