Teenager Hacks Crypto-Currency Wallet

Teenager Hacks Crypto-Currency Wallet

The teenager ultimately decided to share his findings because he was afraid it would not be explained correctly to customers.

  • By Sydny Shepard
  • Mar 22, 2018

A 15-year-old has hacked into a crypto-currency wallet that is touted by its manufacturer as "tamper proof."

Saleem Rashid said in his blog, that he had written code that gave him a back door into the Ledger Nano S, a $100 device that has sold millions around the world. The code would allow a malicious attacker to drain the wallet of all of its funds, according to Rashid.

The firm announced it had issued a security fix for the issue.

The vulnerability is believe to also affect another model of the crypto-currency wallets, the Nano Blue, and a fix for that unit will not be available for "several weeks."

Crpyto-currencies, such as Bitcoin, use an encryption method known as a public key cryptography to protect funds. Users can spend the money stored only if they have access to the private key. These Ledger hardware wallets store those private keys and can be connected to a PC via a USB port.

The attack found by Rashid targets the device's micro-controllers, one of which stores the private key, while the other acts as its proxy to support display functions and the USB interface. The second is less secure and is not able to differentiate between genuine firmware and code written by an outsider.

Rashid found that for the attack method discovered, the hacker would need physical access to a wallet before it got into the hands of the victim. For instance, by buying one, altering it and then selling it online to the victim.

Rashid said in his blog he sent the code to Ledger several months ago and was not paid a bounty. He decided to publish his blog after Eric Larcheveque, Ledger's chief executive, made comments on Reddit, which, according to Rashid, "were fraught with technically inaccuracy."

The teenager ultimately decided to share his findings because he was afraid it would not be explained correctly to customers.

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

  • Why the Future of Video Security Is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now

Most   Popular

New Products

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities