• Crypto is facing an critical vulnerability in the MediaTek Dimensity 7300 chip has been expose.
• The vulnerability is based on an electromagnetic pulse attack, which can be repeated to increase the chances of success and is difficult to detect.
• The industry must work together to develop more secure mechanisms and prevent the exploitation of vulnerabilities to protect user funds and ensure the safety of crypto-related transactions.

It is a matter of major concern in the crypto that a recently published report by Ledger has exposed a critical vulnerability in a widely smartphone used the MediaTek Dimensity 7300 chip, the crypto-focused Solana Seeker. The vulnerability is such that the attackers can have an outright control of the device and yet it can be hard for them to trace private keys that are stored there. This risk seriously threatens the security of crypto wallets and the safety of the user’s funds.

The Nature of the Attack

Operation of the vulnerability is based on an electromagnetic pulse that the attacking party uses to bypass security features of the chip that secures the boot process.

This work is done one after another thus allowing the intruder to be in absolute control of the device, thereby making it impossible for any kind of security to stay intact.

The attack that was carried out has the ability to lead the bad guys to the private keys of the device and with that, rob the user’s crypto wallet of their money.

It only explains why secure, and most importantly, trusted devices must be used when saving and managing private keys. It is good that users expose their devices only to cryptocurrencies related activities while they are on their own in the dark.

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The Manufacturer’s Response

MediaTek points out that the MT6878 chip is a non-financial one and is not sufficiently protected from attacks, such as an electromagnetic fault injection one, and so on.

The company suggests that gadgets that are going to be used in finance and other high-security applications must be equipped with the corresponding protective measures against such assaults.

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The Future of Security

This issue is a wake-up call for the tech industry to rethink the security arrangement of their products, such as smartphones, and any other gadgets that can be used in crypto-related transactions.

To magnetic as well as to other kinds of hacking attempts, manufacturers should be up to the task of making robust the security of their products as a prerequisite of the user’s safety and consequent prevention of the cases such as these from happening.

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In fact, the ledger report sounds an alarm for the whole crypto community, pointing out the critical importance of security in the creation and usage of devices in crypto-related transactions.

Users should be acquainted with the dangers lurking around and following the necessary steps in order to secure their funds. The sector has to proceed on with joint efforts in order to devise more secure mechanisms and this problem be addressed in such a way that exploitation of vulnerabilities will be no ​‍​‌‍​‍‌​‍​‌‍​‍‌more.

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