Ledger May Lay Off 10% Staff

Currently, the total staff of the company is 200 people, so 20 people can lose their jobs
12 April 2019   479

Ledger hardware cryptocurrency wallets manufacturer is considering reducing 20 employees. It is reported by CCN with reference to the French edition of Presse Citron.

Currently, the total staff of the company is 200 people. Thus, the state can be reduced by 10%.

In 2017 Ledger’s monthly income from sales was about 10 million euros. The company’s website states that over 1.4 million Nano S devices have been sold so far, which makes Ledger the world leader in its market niche. The price of hardware wallets, depending on the model, is in the range of $ 60-270.

However, despite some deterioration in financial position, Ledger does not stop there, creating new products and services. So, in March, the company announced the launch of the Ledger Vault custodial service, which allows you to manage multi-signature wallets, as well as securely and efficiently store digital assets, including ERC-20 bitcoin and tokens.

In January, the French company introduced the Ledger Nano X - an improved version of the Ledger Nano S, with an enlarged screen, more storage space and Bluetooth support.

Ledger to Discover HSM Vulnerability

HSM is an external device designed to store public and private keys used to generate digital signatures and to encrypt data, used by banks, exchanges, etc
10 June 2019   981

A group of researchers from Ledger identified several vulnerabilities in the Hardware Security Module (HSM) devices, which can be used to extract keys or perform a remote attack to replace the firmware of an HSM device. The problem report is currently available only in French, the English-language report is scheduled to be published in August during the Blackhat USA 2019 conference. HSM is a specialized external device designed to store public and private keys used to generate digital signatures and to encrypt data.

HSM allows you to significantly increase protection, as it completely isolates keys from the system and applications, only by providing an API to perform basic cryptographic primitives implemented on the device side. Typically, HSM is used in areas where you need to provide the highest protection, for example, in banks, cryptocurrency exchanges, certification centers for checking and generating certificates and digital signatures.

The proposed attack methods allow an unauthenticated user to gain complete control over the contents of the HSM, including extracting all the cryptographic keys and administrative credentials stored on the device. The problems are caused by a buffer overflow in the internal PKCS # 11 command handler and an error in the implementation of the cryptographic protection of the firmware, which bypasses the firmware check using the PKCS # 1v1.5 digital signature and initiates loading the own firmware in the HSM.

The name of the manufacturer, the HSM devices of which have vulnerabilities, has not yet been disclosed, but it is argued that the problem devices are used by some large banks and cloud service providers. At the same time it is reported that information about the problems was previously sent to the manufacturer and it has already eliminated vulnerabilities in the fresh firmware update. Independent researchers suggest that the problem may be in the devices of the company Gemalto, which in May released an update to Sentinel LDK with the elimination of vulnerabilities, access to information about which is still closed.