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

  • New Report Reveals Top Trends Transforming Access Controller Technology

    Mercury Security, a provider in access control hardware and open platform solutions, has published its Trends in Access Controllers Report, based on a survey of over 450 security professionals across North America and Europe. The findings highlight the controller’s vital role in a physical access control system (PACS), where the device not only enforces access policies but also connects with readers to verify user credentials—ranging from ID badges to biometrics and mobile identities. With 72% of respondents identifying the controller as a critical or important factor in PACS design, the report underscores how the choice of controller platform has become a strategic decision for today’s security leaders. Read Now

  • Overwhelming Majority of CISOs Anticipate Surge in Cyber Attacks Over the Next Three Years

    An overwhelming 98% of chief information security officers (CISOs) expect a surge in cyber attacks over the next three years as organizations face an increasingly complex and artificial intelligence (AI)-driven digital threat landscape. This is according to new research conducted among 300 CISOs, chief information officers (CIOs), and senior IT professionals by CSC1, the leading provider of enterprise-class domain and domain name system (DNS) security. Read Now

  • ASIS International Introduces New ANSI-Approved Investigations Standard

    • Guard Services

  • Cloud Security Alliance Brings AI-Assisted Auditing to Cloud Computing

    The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today introduced an innovative addition to its suite of Security, Trust, Assurance and Risk (STAR) Registry assessments with the launch of Valid-AI-ted, an AI-powered, automated validation system. The new tool provides an automated quality check of assurance information of STAR Level 1 self-assessments using state-of-the-art LLM technology. Read Now

  • Report: Nearly 1 in 5 Healthcare Leaders Say Cyberattacks Have Impacted Patient Care

    Omega Systems, a provider of managed IT and security services, today released new research that reveals the growing impact of cybersecurity challenges on leading healthcare organizations and patient safety. According to the 2025 Healthcare IT Landscape Report, 19% of healthcare leaders say a cyberattack has already disrupted patient care, and more than half (52%) believe a fatal cyber-related incident is inevitable within the next five years. Read Now

Most   Popular

New Products

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.