As a seasoned cybersecurity researcher with over a decade of experience, I find it disheartening to witness such lapses in security protocols by reputable companies like Tangem. Having spent years studying and mitigating vulnerabilities, I have seen firsthand the devastating consequences that can result from a breach of user privacy and security.
In this case, Tangem’s failure to adequately protect users’ private keys during email interactions is alarming, especially given the sensitive nature of crypto wallets. It is essential for companies like Tangem, which deal with digital assets, to prioritize security and transparency in their operations.
The fact that the initial Reddit post detailing the vulnerability was mysteriously deleted raises further concerns about Tangem’s response to the issue. While I appreciate the company’s eventual acknowledgment of the problem, it is disappointing that they did not make a more proactive effort to address the issue on their official social media platforms.
It’s important for companies like Tangem to prioritize open communication with their users and maintain a high level of transparency in such situations. As for the users, I would advise them to remain vigilant and take all necessary precautions to protect their digital assets, including updating their mobile applications to the latest version as soon as possible.
On a lighter note, it seems that Tangem’s security mishaps have given new meaning to the phrase “lost in translation,” with users losing not just their translations but also their private keys!
It was recently discovered by Tangem, a company that offers cryptocurrency wallets, that there was a notable security issue in their mobile application. This issue unwittingly gathered users’ private keys during email communications.
After multiple warnings from concerned members, this solution was implemented due to their expressed worries about possible security issues. It appears that user’s private keys were being gathered through email communications within the Tangem mobile application.
Tangem Users Face Critical Security Risks
As a researcher, I’d like to bring attention to an intriguing discourse that unfolded on Reddit on December 29th. The conversation centered around a potential security concern in the Tangem wallet. It was disclosed that private keys were being stored within email correspondence, which could theoretically expose these sensitive details to Tangem’s own staff members. This revelation underscores the importance of maintaining robust security practices when dealing with digital assets.
In a forum, a Redditor named “u/areklanga” brought attention to a potential weakness, which ignited worry among the community members.
The user stated that their private keys, which they’ve used, might be found in their personal emails, Tangem’s emails, and possibly within Tangem’s ticket tracking system. This means that Tangem employees could potentially access these keys, which implies that all Tangem users may be at risk.
Users additionally pointed out that the initial Reddit post about the problem was strangely removed, fueling doubts about Tangem’s initial reaction. Once their worries were confirmed, users swamped Tangem staff with emails.
On December 30th, Tangem admitted to an issue they encountered and traced it back to a bug in their mobile app’s log processing feature. They announced that they had successfully fixed this bug in their statement.
In a statement posted on Reddit, Tangem explained that while setting up a wallet using a seed phrase, the private key was accidentally recorded in the app’s log files. These log files, which might be accessed during customer service interactions, could potentially expose the private key.
Tangem explained that the issue they encountered was not widespread, it primarily affected users who swiftly created a seed phrase and then contacted support. Moreover, they mentioned that they erased all the logs their support team had received.
Users Accuse Tangem of Downplaying Situation
Initially, Tangem swiftly dealt with the discovered vulnerability; however, certain individuals within the cryptocurrency sector raised questions about Tangem’s communication tactics. More specifically, they pointed out that there were no public announcements about the vulnerability on Tangem’s official social media channels.
A Reddit user expressed frustration over Tangem’s portrayal of the scale of this event. Although they assert that only a “small number of users” sent an email with their keys, the question arises about how many users had their keys stored in a readable format like a log file on their phones?
On December 31st, Tangem hadn’t released any formal statements about the potential security issue through their social media platforms at the point of publication.
Tangem recommends that everyone should promptly upgrade their mobile app to the most recent version, as this will help minimize potential dangers related to a security issue.
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2025-01-02 03:58