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Ledger Wallet Adds More Privacy Protection

Ledger is a company which manufactures cold wallets in cryptocurrency world. As Wallebi reported previously, cold wallets are also vulnerable to hackers’ attack. As a result, the ledger wallet...

Written by Wallebi Author · 1 min read >
Ledger Wallet Adds More Privacy Protection

Ledger is a company which manufactures cold wallets in cryptocurrency world. As Wallebi reported previously, cold wallets are also vulnerable to hackers’ attack. As a result, the ledger wallet adds more privacy protection to its software suite.

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The Ledger wallet adds more privacy protection layer to prevent dusting attacks

Recently, the hardware wallet maker, Ledger, upgraded its software suite in order to add more privacy and protection layer to prevent dusting attacks’.

In fact, a dusting attack is a malicious actor, which sends small amounts of Bitcoin to wallet in order to crack the privacy of users and make it ready for future attacks.

Ledger is introducing a new feature on its Live version 2.11.1 wallets. The new feature called “Coin Control”. In fact, it enables users to adjust transaction settings to increase privacy. In addition, they can optimize fee usage.

The new upgrade features

The company explained that the new feature is able to manage Hierarchical Deterministic (HD) wallets. It means, it can manage multiple different Bitcoin addresses.

By the new update, users are able to select the address, which they want to use for their transactions by using ‘Coin Control’. But, previously users were using the default First-in, First-out (FIFO) method, which automatically uses the oldest address.

As a result, it prevents third parties to track BTC ‘dust’ transactions. As we mentioned above, dusts are tiny amounts of BTC, which are sent to multiple addresses. Those tiny amounts are usually less than the transaction fee.

The ‘dust’ amount can be used in order to trace the identity of the wallet holder. For instance, a large dusting attack affected Litecoin users in August 2019.

The Ledger company stated that by using ‘Coin Control’, users would be able to choose to not use these tiny amounts. As a result, the hackers would not be able to track any movements. In simple words, the new feature can be a game changer when it comes to the users’ privacy.

Written by Wallebi Author
Author and analyst in the field of cryptocurrency Profile

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