Ledger confirms hardware wallet spy implant behind crypto thefts
Ledger said the implant read recovery phrases during setup and transmitted them over LTE, while confirmed losses were tied to one Southeast Asian reseller.
- On October 9, Ledger began investigating reports of stolen funds from users in Southeast Asia who purchased devices through reseller CryptoBilis, confirming an unauthorized hardware implant captured recovery phrases during setup.
- Ledger's Donjon security team found the implant sits inside the device casing, reading data displayed on the screen to transmit 24-word recovery phrases over LTE, while leaving the Secure Element untouched.
- Independent researchers estimate losses above $86 million, though Ledger has not verified these figures; the manufacturer advises recent buyers not to initialize their devices and to contact support.
- CryptoBilis suspended all sales and shipments of Ledger devices while the investigation continues; Ledger confirmed its internal systems and direct sales channels remain uncompromised.
- Supply chain vulnerabilities remain a recurring challenge for hardware wallet providers; separately, Ledger unveiled its $849 Atom device on October 15, featuring an 'active shield' to detect physical tampering.
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