Crypto wallet provider Fordefi announced today via press release that it has raised $10 million in funding to help bring its institutional-grade crypto wallet to retail platforms. In other words, the company wants to develop its user-owned self custody wallet-as-a-service (WaaS) solution for exchanges, fintech platforms and other centralized crypto services. The central security feature…
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[toc] In the realm of digital riches, XRP wallets stand tall as a secure haven and a gateway to empowerment. These wallets not only offer a safe space for storing, sending, and receiving XRP, but they also grant you the keys to the kingdom. With robust security measures like password protection, encryption, and multi-factor authentication,…
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South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized exchanges are subject to this requirement. The Overseas Account Reporting Requirement Controversy The…
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Trevor Traina, the founder and CEO of Kresus, has said he foresees non-custodial mobile wallets “transforming into something more comprehensive than just tools for storing digital assets.” According to Traina, such a transformation is needed if non-custodial wallets are to become apps with “functionalities to cater to the diverse needs of the Web3 community.” Non-Custodial…
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Phantom, the Web3 cryptocurrency wallet initially developed for Solana, has expanded to include Ethereum and Polygon, and is now introducing support for Bitcoin, Ordinal inscriptions, and BRC20 tokens. Users of Phantom have the ability to integrate their existing bitcoin wallets, allowing them to manage their Bitcoin-centric digital collectibles and fungible tokens through the Web3 platform’s…
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The Three Address Protocol offers a structured strategy to safeguard non-fungible tokens (NFTs), dividing activities across three specialized addresses to combat digital asset theft. TAP: Candidate For The New Standard in NFT Security The NFT community has long been plagued by NFT thefts, with high-profile cases often involving losses of digital assets worth hundreds of…
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On Dec. 14, 2023, Ledger’s Connect Kit, a Javascript library for wallet connectivity, suffered a significant exploit. This incident, which was contained within two hours, has brought forth a number of criticisms of Ledger’s security practices. Ledger Exploit Elicits Mixed Reactions From Crypto Sphere; Dapps and Tether Respond Promptly to Breach Ledger, known for its…
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The unknown attacker that compromised Ledger’s Connectkit Library has reportedly siphoned $484,000 from wallets, according to the onchain intelligence firm Lookonchain. Ledger disclosed a former employee fell victim to a phishing attack and the attacker gained access to the Ledger Connectkit Library and uploaded a malicious bug. Ledger Responds to $484K Hack The latest and…
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According to several reports, there’s been an alleged Ledger Connectkit Library exploit and people are being warned not to interact with decentralized application (dapp) front ends. Reportedly, the library that maintained several dapps now contains a wallet drainer. *Editor’s Note: The end of this article was updated at 9:02 a.m. (EST) on Dec. 14, 2023,…
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To securely backup your crypto wallet private keys, create an encrypted offline copy on a hardware wallet or write them on paper. In the rapidly evolving world of cryptocurrencies, it is critical to secure one’s digital assets. A crucial element of crypto security is storing a backup of private keys. Private keys are the keys…
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