Klever Wallet Addresses Security Issues, Users Be Alerted

Key Points:

• Klever Wallet addresses security issues with low entropy mnemonics.
• Users are advised to migrate to new wallets for enhanced security.
• The team emphasizes commitment to a secure platform and user experience.

In an official announcement, the team at Klever Wallet acknowledged a recent incident involving suspicious activity and identified the root cause as a known exploit related to low entropy mnemonics.

The exploit, similar to one previously reported by TrustWallet in April 2023, affects the security and unpredictability of generated keys. As a result, Klever Wallet is urging users to take prompt action to ensure the security of their wallets and funds.

To address this, Klever Wallet emphasizes the importance of flawless entropy generation, particularly in the Hierarchical Deterministic (HD) scheme used for key management and portability. The HD scheme offers convenience and signer roaming capabilities, allowing users to switch seamlessly between wallets. However, a flawless entropy source is crucial to maintaining the security and integrity of the scheme.

In the specific incident, all the affected wallets were imported into Klever Wallet K5 and had been originally created using an old and weak pseudorandom number generator algorithm as their entropy source. Klever Wallet K5, on the other hand, utilizes robust security measures and leverages the native security features of iOS and Android operating systems to ensure secure entropy and mnemonic generation.

Additionally, the implementation of KleverSafe, a specific component of Klever Wallet, incorporates a true Random Number Generator (RNG) that relies on physical phenomena to generate entropy, providing a reliable and highly secure source of randomness.

To mitigate potential vulnerabilities associated with outdated or weak pseudorandom number generator algorithms, Klever Wallet advises users to migrate to new wallets created on Klever Wallet K5 or Klever Safe. By taking this proactive step, users can benefit from enhanced security measures and improved entropy generation, ensuring a more secure and reliable environment for managing their cryptocurrencies.

Klever Wallet encourages users to report any anomalies promptly to their support team, who are prepared to address user concerns during this time. The company is committed to maintaining open communication and keeping users informed as they work diligently to address the incident and provide a secure platform and optimal user experience for all.

As the situation unfolds, users are advised to stay vigilant and follow the recommended actions to safeguard their funds and maintain the security of their wallets.

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