Crypto Hardware Wallet Startup Ledger Receives $2.9 Million Investment From Samsung

Francisco Memoria

Ledger, a popular cryptocurrency hardware wallet manufacturer, has recently received a 2.6 million euro ($2.9 million) investment from South Korean tech giant Samsung, in a move that gave the firm a valuation of roughly $290 million.

According to French business magazine Capital, a Ledger spokesperson confirmed Samsung backed the firm, but didn’t go into details. The move came shortly after Ledger promoted Pascal Gauthier to CEO, and after a $7 million Series A funding round in 2017, and a $75 million Series B last year.

Ledger’s former CEO, Éric Larchevêque, seemingly confirmed the investment initially, by saying on social media in one tweet – translated from French – that ~we’ll “always need hardware wallets,” but that in the crypto revolution “the smartphone will actually play a central role.”

In a statement, the cryptocurrency hardware wallet manufacturer confirmed Samsung’s investment. The statement reads:

We are excited to confirm Samsung Ventures’ investment in Ledger. We believe Samsung Ventures will add value to further enhance our position as a leading provider of best-in-class security solutions as we continue to deliver innovative hardware wallet technology to meet the demands of both today’s and tomorrow’s mobile consumer market.

It’s worth pointing out that last year Ledger received a Startup of the Year award from Ernst & Young (EY) for the Ile-de-France region, in a competition that saw it move up to compete with other startups throughout the world. The company’s success has been significant with over one million Ledger wallets sold as of October of last year.

Samsung itself seemingly added a cryptocurrency wallet to its latest flagship smartphone, the Galaxy S10. Months before it was released leaks showed it had a built-in cryptocurrency wallet. After its release, videos show it has ‘blockchain tutorials’ included in it.

Rumors now suggest Samsung is looking to launch its own blockchain, based on the Ethereum network. The goal, some claim, could be for the tech giant to launch its own token.  Interestingly, Enjin Coin (ENJ) saw its price surge when the Galaxy S10 launched, as it’s believed Samsung adopted Enjin’s wallet for its flagship smartphone.

P2P Token Trading Platform AirSwap Discloses ‘Critical Vulnerability’

  • Peer-to-peer trading platform AirSwap claims to have identified a "critical vulnerability" in one of its smart contracts. 
  • Ten addresses have been identified so far as being at risk of exploitation. 

Peer-to-peer token trading network AirSwap has disclosed a “critical vulnerability” in a newly released smart contract. 

AirSwap's Critical Vulnerability

According to the disclosure, which was published on Sept. 13, AirSwap’s internal security team identified a potential exploit in a newly released mainnet smart contract. The vulnerability would allow an attacker to “perform a swap without requiring a signature from a counterparty.” 

AirSwap claims that the offending code was only present for twenty-four hours on the network before being identified and removed. However, users of AirSwap Instant between Sept. 11 and Sept. 12 may have been affected by the vulnerability, with the report claiming that 10 accounts have been recognized so far as being at risk. 

AirSwap has published the addresses to the vulnerable accounts, telling all other users that no further action is required. The report also outlines the step-by-step actions taken by the exchange in the aftermath of discovering the vulnerability, including an apology to its client base, 

We would like to deeply apologize to our affected users for any inconvenience these vulnerabilities may have caused, and hope that the important lessons we continue to learn throughout these processes form the basis for a more open, secure, and efficient trading environment.

Featured Image Credit: Photo via Pixabay.com