A crypto wallet service, Klever, revealed that a previously known exploit caused by a low-entropy mnemonic affected several users. The incident first came to light when users reported suspicious activity within their wallets earlier this week.
According to the company’s update, the algorithm called Random Generation, used by the Bip39 implementation, was previously used by numerous cryptocurrency wallet providers. However, a flaw in the algorithm compromised the security and unpredictability of the generated keys, making the wallets susceptible to unauthorized access or malicious activity.
On the Klever platform, the core codes responsible for mnemonic and entropy generation using the PRNG algorithm are implemented with strong security measures and are native to the operating system.”
Klever said the incident is similar to the one reported by the TrustWallet browser extension in early April. The company advised users who currently own old wallets that were created before Klever Wallet to quickly move to the new ones created in Klever Wallet K5 or Klever Safe. Initial investigation suggested that the suspicious activity was not unique to Klever and that users of multiple wallet providers are affected.
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This post Crypto Wallet Users Affected by Suspicious Activity Caused by Low Entropy Mnemonic
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