Ledger, the crypto hardware wallet manufacturer, has disclosed an update and timeline for the recent security breach affecting its Connect Kit tool.
Read more on: https://thecryptobasic.com/2023/12/15/ledger-discloses-update-and-timeline-of-the-recent-wallet-security-breach/
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Ledger, a leading company in the hardware wallet sector for crypto, has recently addressed an exploit in its Ledger Connect Kit with a quick and responsible action.

This situation has highlighted the importance of innovative solutions for risk management and protection of investments in cryptocurrencies.

Ledger: management of crypto hardware wallet exploits

Following the report of unauthorized transactions by users, Ledger acted immediately. On December 14, 2023, an exploit put several decentralized applications (DApps) at risk, including significant platforms such as Sushi Swap and Revoke.cash.

The vulnerability has caused financial losses for users, estimated at around $600,000. Ledger has demonstrated an impressive responsiveness, announcing on December 20 plans to compensate affected users, highlighting a commitment to resolving the issue promptly.

Changes in Ledger’s transaction signing policy from cryptocurrency hardware wallets

The exploit has prompted Ledger to review its policies regarding transaction signing. The decision to eliminate the practice of blind signing by June 2024 represents a crucial step in strengthening the security of its devices. 

In addition, Ledger is actively promoting “Clear Signing” among DApps, allowing users to verify transaction details before confirming them, a key initiative to improve security in the cryptocurrency ecosystem.

Full refund and future security for Ledger cryptocurrency hardware wallet users

In this context of growth, Ledger’s response to the exploit not only demonstrated its ability to effectively manage emergencies, but also strengthened its position as a leading company in the hardware wallets for cryptocurrencies industry. 

The full refund offered to customers affected by the exploit is a tangible example of its commitment to customer trust. Furthermore, the adoption of stricter security measures and the review of its policies demonstrate a clear determination to prevent future incidents. 

These efforts have not only helped restore customer confidence, but have also marked an important step forward for the entire cryptocurrency industry, setting new standards of security and accountability. 

Ledger, with its prompt response and proactive strategies, emerges as a stronghold of security and reliability in the rapidly evolving world of cryptocurrencies, constantly committed to protecting the investments and personal data of its users.

Conclusion

Ledger has shown exemplary management of the exploit, demonstrating a responsible approach in resolving security breaches. Working closely with the DApp community to improve transaction verification processes, Ledger positions itself as a leader in the field of hardware wallet security for cryptocurrencies, offering innovative and proactive solutions to ensure the security of cryptocurrency investments.

TLDR

Kaspa (KAS) sees impressive gains after partnering with Ledger; analysts hint at a sustained rally to $0.195 by May.

BEAM seeks to attract investors as liquidity providers, offering rewards obtained from DEX fees during trading.

Rebel Satoshi ($RBLZ) soars by 140% as investors keenly anticipate $RBLZ’s DEX launch.

The cryptocurrency market is witnessing a dynamic shift in investor attention, as Rebel Satoshi emerges as a compelling alternative to many top altcoins. Meanwhile, Kaspa and BEAM, two of the recent gainers in the crypto space, are facing stiff competition, as experts predict a potential double return for $RBLZ investors. Let us delve into which of these coins analysts think it is the best coin to invest in.

Kaspa (KAS) Users Now Capable of Storing and Managing Crypto Assets With Ledger Nano Devices

On January 31, Ledger, the leading provider of hardware wallets, announced the integration of Kaspa. Kaspa users can now download the Kaspa app on their Ledger Nano X or S devices and connect them to the KasVault web app to create and access their Kaspa accounts. This allows them to securely send and receive KAS coins, as well as access various Web3 apps that support Kaspa. 

Following this positive announcement, the price of KAS has gained 72.7%, moving from $0.099 on January 31 to close at $0.171 on February 25. As a result, crypto experts have predicted that KAS’ price will continue its upward trajectory and will hit $0.195 by May. This is due to renewed investor interest in Kaspa’s blockchain.

On the other hand, top crypto analysts monitoring KAS chart patterns have indicated that a correction is imminent. According to them, this correction could see KAS’s price decline to $0.076 by April.

BeamX Invites Users To Join Its Confidential DeFi Ecosystem as Liquidity Providers

BeamX, a project that leverages Beam’s confidential blockchain technology, has launched a campaign to attract users to its decentralized exchange (DEX) platform. Users can become liquidity providers by depositing Beam or other tokens bridged from Ethereum and earn passive income from DEX fees. BeamX also plans to introduce a DAO governance model and a native token (BEAMX) in the near future.

After this development, BEAM’s price surged from $0.091 on January 31 to $0.115 on February 25, representing a 26.4% increase. Regarding analysts’ predictions, they expect BEAM to continue on its bull run to $0.787 by mid-April. They cite increased inter-chain collaborations and the growing potential of the Beam ecosystem as drivers for this potential growth.

Conversely, other analysts have expressed bearish sentiments due to prevailing market volatility and increased competition in the altcoins space. They foresee BEAM prices declining to $0.047 by the end of May. Notwithstanding, crypto experts and top blockchain ICO analysts have backed Rebel Satoshi as one of the top defi projects to beat in 2024, as the historical presale nears its completion.

Rebel Satoshi Presale Attracts Whales From Top Cryptocurrencies as March 4 Listing Draws Closer

Rebel Satoshi, a meme coin inspired by historical and crypto rebels, is making waves in the crypto market as it concludes the fifth and final round of its presale, called Recusants Round 5. The project has already raised  $2.2 million and its native token, $RBLZ, has increased by 140% in value since its initial coin offering (ICO).

Rebel Satoshi aims to disrupt the status quo and promote decentralization in the crypto space, offering various features and benefits to its holders and supporters. Some of these features include:

– An NFT marketplace, where users can create, buy, and sell digital collectibles that represent the spirit of rebellion.

– A peer-to-peer game, where users can compete with each other and earn rewards in $RBLZ tokens.

– A staking mechanism, where users can lock their $RBLZ tokens and earn passive income from the network fees.

$RBLZ is an ERC20 coin that runs on the Ethereum blockchain. It serves as the utility and governance token of the Rebel Satoshi ecosystem, allowing users to access its features and participate in its decision-making process.

Recusants Round 5 of the presale is the last chance for investors to buy $RBLZ tokens at a discounted price of $0.024 per token. The presale will end on February 29, after which $RBLZ will be listed on major DEXs, as well as on tier 1 centralized exchanges. $RBLZ tokens can be purchased on the Rebel Satoshi website using BTC and 50 other cryptocurrencies.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram

The post Experts Spot Momentum Shifting From Gainers Like Kaspa (KAS) and BEAM to Rebel Satoshi ($RBLZ) Final Presale Round appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Hardware wallet provider Ledger and leading cryptocurrency exchange Coinbase have joined forces to streamline the process of purchasing and transferring digital assets. This collaboration aims to enhance user experience and bolster security by allowing direct transfers of purchased crypto to Ledger devices.

Integration of Coinbase pay into ledger live

The collaboration entails the integration of Coinbase Pay, Coinbase’s on-ramp solution, into Ledger Live, Ledger’s desktop and mobile application. This integration enables users to transfer their existing cryptocurrency holdings and transact directly from their devices. Moreover, it facilitates the seamless receipt of crypto purchases on Ledger hardware wallets.

Previously, transferring crypto assets from exchanges to self-custody wallets was perceived as cumbersome and prone to errors. Ian Rogers, Chief Experience Officer at Ledger, emphasized the tedious nature of this process before the collaboration. 

However, with the integration of Coinbase Pay, users benefit from a simplified and secure method akin to booking travel through platforms like Skyscanner. Rogers noted that the collaboration offers consumers a choice, emphasizing the importance of digital ownership through self-custody.

Encouraging adoption of self-custody

Ledger envisions a shift in demand towards self-custody wallets, likening them to bank accounts tailored to individual preferences. The collaboration with Coinbase underscores the accessibility and simplicity of self-custody, particularly for newcomers to the crypto space. 

As the crypto market enters a new cycle propelled by the introduction of spot Bitcoin exchange-traded funds (ETFs), Ledger anticipates an influx of new users. While these individuals may initially engage with ETFs, Ledger aims to encourage their transition towards self-custody, which is the authentic use case for crypto.

Integrating Coinbase Pay into Ledger Live marks a significant step towards bridging the gap between centralized exchanges and self-custody solutions. The collaboration enhances user autonomy and security in managing their digital assets by offering a seamless transfer mechanism. Additionally, it serves as a testament to the growing recognition of self-custody as a fundamental principle of cryptocurrency ownership.

Potential for market expansion

With the advent of spot Bitcoin ETFs, the crypto market is poised for expansion, attracting a broader audience of investors. Ledger anticipates that these newcomers will gradually gravitate towards self-custody solutions, driven by the allure of direct ownership and enhanced security. As such, the collaboration with Coinbase caters to existing users and lays the groundwork for accommodating future growth in the crypto ecosystem.

Key Points:

FTX crypto hedge fund LedgerPrime, now MNNC Group, secures substantial funding from previous backers.

Led by former LedgerPrime executives, MNNC Group launches a successful market-neutral strategy fund with plans for further expansion.

According to Bloomberg, after experiencing a restructuring following its association with FTX, the cryptocurrency hedge fund LedgerPrime has resurfaced under a fresh identity, MNNC Group.

FTX Crypto Hedge Fund LedgerPrime Rebrands

The FTX crypto hedge fund has successfully garnered support from investors, including previous backers of LedgerPrime, securing a substantial sum estimated to be in the "mid-eight figures." Led by Boris Iyutin, the former chief investment officer of LedgerPrime, the majority of MNNC Group's team hails from its predecessor.

MNNC Group's inaugural quantitative market neutral strategy fund, launched in January, demonstrated promising results, accruing approximately 4% in returns. Looking ahead, the fund is poised to introduce a new directional fund in March, with aspirations to expand its workforce.

The rebranding and resurgence of the FTX crypto hedge fund as MNNC Group marks a pivotal moment in the cryptocurrency investment landscape.

Former LedgerPrime Executives Drive Growth

Despite challenges stemming from the collapse of FTX and Alameda Research, MNNC Group has navigated these difficulties and is now positioned for growth. Notably, the fund's resilience has been underscored by its commitment to returning external investments outside of its control.

Led by a seasoned team with backgrounds in high-frequency trading and proprietary trading desks, MNNC Group is poised to capitalize on the current market conditions, characterized by heightened volatility and robust DeFi yields. With ambitions to further expand its operations and offerings, MNNC Group is emblematic of the dynamic nature of the cryptocurrency investment sector.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Tashi Finance (“Tashi”), a non-custodial liquidity market, is partnering with Ledger Works (“LWorks”) as their strategic risk partner for their Borrow/Lend platform into the Cosmos ecosystem, enabling seamless cross-chain transactions and unlocking the potential of interchain DeFi.

By partnering with LWorks, Tashi will receive comprehensive risk management coverage for each market listed on their platform. At present, these will include evmos (EVMOS), cosmos(ATOM), Wormhole ethereum (WETH), Wormhole bitcoin (WBTC), usdt (USDT) and usdc (USDC). 

Tashi operations will be supported by LWorks’ quantitatively-defined parameter recommendations for collateral factors, borrowing limits, and more. Leveraging deterministic and stochastic models, network-wide simulations, and real-time market surveillance allows Tashi to minimize market challenges. 

This enterprise-scale risk management will place Tashi levels above any other protocol within Cosmos ecosystems regarding market surveillance. Moreover, Ledger Works’ suite of solutions will inform optimal lending terms for Tashi’s markets, optimizing total protocol efficiency.

LWorks offers integrated risk management services that combine cyber, operational, and financial risk controls into a unified dashboard with real-time computational models and rules that enable continuous market surveillance for market-wide and decentralized finance (DeFi) protocol-specific risks.

Key features of Ledger Works solutions for Tashi will include:

Real-time market surveillance through intuitive dashboards and alerts.

Cyber risk monitoring alerts to identify potential exploits and vulnerabilities.

Operational risk monitoring alerts to identify protocol issues proactively.

Financial risk parameter recommendations, including Collateral Factor, Reserve Factor, and Borrow Cap.

Event response support services during extreme market conditions.

LWorks is expanding its machine learning environment to leverage extensive data sets, existing rules, and financial models. This initiative aims to provide faster and more effective risk identification and response mechanisms.

Meanwhile, Ledger Works has over 100 years of combined experience in security, risk management, and big data systems. Their CEO, David Melnick, held a national partner role in Deloitte’s Enterprise Risk Services practice before launching Ledger Works. 

Steve Elfanbaum, the chief technical offer (CTO), previously was co-founder and principal at Asynchrony Solutions. At the same time, their chief data scientist, Chintan Mehta, earned a Ph.D. from Princeton University and completed extensive postdoctoral work at Yale University. 

Initially collaborating with the team while at Bridgewater Associates, Chintan brings his expertise in deterministic and stochastic modeling to coordinate the engineering and data science efforts at Ledger Works.

Kristine Boulton, a core contributor at Tashi, states:

 “As a lending protocol, it is imperative for Tashi to effectively manage risk to protect our users and maintain healthy, active markets. We are thrilled to collaborate with the team at Ledger Works to ensure that our risk strategy enables us to do just that. With their offering of 24/7 market surveillance, expertise in risk management, security, and data analytics, coupled with their professional approach, we are confident that this partnership will propel Tashi and the Evmos ecosystem to even greater heights.”

David Melnick, the CEO of Ledger Works, added:

“The Ledger Works team is excited to collaborate with Tashi on their DeFi Lending Protocol. Their innovation and professionalism align perfectly with our team’s approach to Risk Management. By combining their DeFi experience with our comprehensive Risk Management solution, we can deliver a world-class offering to the market.”

About Ledger Works

Ledger Works partners with DeFi companies to operationalize next-generation risk management solutions. By leveraging real-time computational rules, continuous execution of deterministic and simulation models, and real-time market surveillance, Ledger Works empowers businesses to turn risk into a competitive advantage. 

For more information, visit: https://www.lworks.io 

Contact

Press@lworks.io

About Tashi

Tashi is a revolutionary non-custodial liquidity market that facilitates the lending and borrowing of digital assets. Native to the Evmos ecosystem, Tashi supports the growth of Cosmos. 

For more information, visit: https://tashi.market

Contact

info@tashi.finance 

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The post Tashi Finance & Ledger Works partner to re-invent risk management for DeFi lending appeared first on CoinChapter.