Tangen Accused Of Exposing Crypto Private Keys Via Emails

A critical security vulnerability was recently discovered at Tangem, the crypto wallet provider. This vulnerability exposed users’ private keys via emails, endangering investors’ funds. The flaw was discovered after users reported that their private keys were accessible in email accounts and to Tangem employees.

Tangem and the vulnerability that exposes users’ private keys

The issue was highlighted on December 29, when a Reddit user accused Tangem of collecting users’ private keys via emails. These private keys were stored in the email history of crypto users and Tangem, as well as in Tangem’s ticket tracking system, making them accessible to the company’s employees.

Tangem acknowledged the problem on December 30, explaining that it stemmed from a bug in the application log processing system. The company clarified that the private keys generated during the creation of a crypto wallet were mistakenly recorded in the application logs, which could then be accessed during interactions with the support team. An update was released to fix this issue.

Tangem assured crypto users that all logs and attachments sent to its support team had been permanently deleted. The company also emphasized that only a small portion of users, those who had generated a recovery phrase and contacted support immediately, could be affected.

Lack of transparency in the crypto industry

Despite the release of a fix, Tangem has faced criticism for its lack of transparency. The crypto community reproaches the company for not mentioning the vulnerability or its resolution on its official website and social media. Nonetheless, Tangem urged all users to immediately update their mobile apps.

This incident highlights the crucial importance of strong security measures in the crypto industry. Users must remain vigilant and ensure that their applications are always up to date to avoid such vulnerabilities.