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first_img Aave iOS app has opened early access, while Android and Web users are still pending access

Aave began opening its iOS mobile application to early users on Wednesday, pushing its consumer savings product into early access, while Android and Web users still need to wait on the waiting list. Aave founder Stani Kulechov stated that the Ghost Pass allows users to invite friends to skip the waiting list.The app is positioned as a savings application, supporting bank account and stablecoin deposits, allowing users to connect bank accounts and debit cards, with stablecoin wallets supporting deposits and withdrawals on Arbitrum. Funds deposited generate returns through the public lending market, with assets supplied to the lending pool, and the interest paid by borrowers flowing to depositors. Aave Labs stated in July that there were about 50,000 registered users on the iOS waiting list.Aave describes the app as self-custodial, although it has login and recovery features similar to fintech applications. The app's terms state that the embedded wallet generates and stores private keys locally, and Aave Labs does not hold user assets or keys, managing wallet setup and gas through smart account abstraction. This release is part of Aave's initiative to expand retail distribution following the acquisition of Stable Finance in October 2025, with Stable Vaults now providing a savings layer for the Aave app and open to fintech companies seeking embedded stablecoin yields.

The Ledger security team discovered an Android vulnerability that can extract cryptocurrency wallet recovery phrases in 45 seconds

According to The Block, Ledger's security research team Donjon has discovered a vulnerability in the secure boot chain of MediaTek processors, allowing attackers to extract encryption keys via USB connection before the operating system loads, provided they have physical access to the phone. This could enable them to decrypt device storage and obtain the device PIN code and encrypted wallet mnemonic within approximately 45 seconds.In proof-of-concept tests, the vulnerability successfully extracted sensitive data from wallet applications such as Trust Wallet, Kraken Wallet, and Phantom. Researchers indicate that this vulnerability may affect about 25% of Android phones, involving models that use MediaTek chips and Trustonic's Trusted Execution Environment. Ledger's Chief Technology Officer Charles Guillemet stated that smartphones were never designed to be vaults. Although the vulnerability can be patched, it highlights the inherent risks of storing keys on non-secure devices, and users are advised to update security patches as soon as possible.According to data from TRM Labs, over 80% of the $2.1 billion in stolen crypto assets in the first half of 2025 stemmed from infrastructure attacks such as private key theft, mnemonic theft, and front-end hijacking. Chainalysis data shows that losses from crypto asset theft exceeded $3.41 billion in 2024, with the proportion of stolen personal wallets rising from 7.3% in 2022 to 44% in 2024.
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