Ledger confirms hardware wallet spy implant behind crypto thefts
Ledger said the implants could read recovery phrases and send them over LTE, and it has suspended sales across Southeast Asia and Hong Kong.
- On October 9, Ledger asked Southeast Asian reseller CryptoBilis to pause sales and shipments while its Donjon security team investigates reports of stolen funds linked to devices sold through the reseller.
- Donjon researchers identified unauthorized hardware implants that read recovery phrases during device setup; the components use a separate microcontroller and eSIM to transmit the 24-word phrases over cellular networks.
- Independent onchain investigators estimate that suspected cryptocurrency thefts linked to these compromised devices exceed $86 million, though Ledger has not verified a final total or confirmed the number of affected users.
- Ledger advises customers who purchased devices from CryptoBilis within the past 90 days not to initialize them; those who already activated wallets should move assets to a new signer with a fresh recovery phrase.
- The company maintains its internal systems and Secure Element remain uncompromised, framing this as a distribution-chain issue; experts note physical supply-chain tampering presents a recurring security challenge for hardware wallet manufacturers.
171 Articles
171 Articles
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