Ledger Creates Bounty Fund of 10 BTC to Trace Hackers
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13 January
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Cryptocurrency hardware wallet manufacturer Ledger has announced it had created a bounty fund of 10 BTC (EXANTE: Bitcoin) for information that could lead to successful arrest and prosecution of a hacker that compromised Ledger's database and leaked one million user data on Raidforums for free.

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According to an announcement, Ledger hopes other companies will join the bounty program to make the crypto community "a safer place." The company also announced reorganization of the business model with no personal data such as name, address, and phone number of its clients.

"We are challenging ourselves and third party providers to keep this data for as short a period of time as necessary to fulfill our obligations to our customers (such as fulfilling your order) and the law (such as accounting and legal obligations)," the announcement says.

Ledger will also create a messaging model where important information will be sent via Ledger Live. Email and social media will be used only for broadcasting announcements, Ledger emphasized.

As iHodl earlier reported, an unknown person connected to the Ledger's systems using an API key and managed to steal the data of one million users, primarily their email addresses. Earlier in 2020, an anonymous blockchain researcher monokh discovered a new vulnerability in the Ledger hardware wallets that can lead to theft of user funds. A potential attacker can exploit a new method of stealing cryptocurrencies by replacing funds meant for the transfer with a more valuable.

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