Home / Altcoins / Ledger Issues Warning by Monero Developers App Bug for Ledger Wallet Users

Ledger Issues Warning by Monero Developers App Bug for Ledger Wallet Users

Monero (XMR) developers have fixed a bug involving cryptocurrency hardware wallet Ledger that created user funds seem like they’d disappeared, they confirmed on social media on 8th April.

Reported in early March, the bug, that Ledger originally thought to be a synchronization problem, first came to light when a user’s balance failed to react to an incoming transaction.

The problem solely affected those using Ledger Nano S devices to access their XMR wallet. As of in the week, the problem has formally been resolved through the issuing of a patch from Monero developers luigi1111 and stoffu.

The amount thought to be lost within the initial red flag dealings totaled 1,680 XMR (around $115,00), leading to concerns of a major flaw. In the end, Monero says, the number of wallets involved was minimal.

“A few weeks ago some Ledger Monero users got affected by a bug in the Ledger Monero code. Due to the bug, a handful of transactions were erroneously constructed and the wallet was not able to spot (and subsequently credit) the change, thereby letting the user believe their funds were lost,” a summary of the fix on Reddit now reads.

The summary continues:

“Fortunately, we were, in collaboration with the Ledger team, able to resolve this bug and recover the ‘lost’ funds of the affected users.”

The summary adds “This, hopefully, will ensure no such bugs will be present in the future.”

Monero may be a privacy-focused altcoin that presently occupies 13th place in the high twenty cryptocurrencies by market cap.

Its anonymity options have created it a favorite for those involved regarding privacy, however, have additionally endeared it to cybercriminals, who developed malware to mine it covertly on user devices.

Last week, XMR.to, a service that allowed Bitcoin (BTC) users to extend the privacy of their own transactions using XMR, removed support for U.S. residents due to regulatory compliance difficulties.

 

 

 

About Steve Anderrson

5d85c99dd353c-bpfull
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Check Also

drug-bust

$1 million worth of cryptocurrency found in Australian drug bust

Australian police have reportedly seized a massive amount of cryptocurrency after intercepting a drug delivery …

Leave a Reply

Your email address will not be published. Required fields are marked *