Ledger Says Hardware Implant in Tampered Wallets Stole Recovery Phrases
Ledger reports that cryptocurrency wallets sold via a Southeast Asian reseller contained a hidden LTE chip that read users' recovery phrases, with a suspected $86M drain linked to the scheme.
AfroEuropa Newsroom
AfroEuropa desk
Ledger has disclosed that some of its cryptocurrency hardware wallets were fitted with a concealed electronic implant that captured users' recovery phrases, according to reporting from Decrypt and The Record.
The affected devices were distributed through a reseller based in Southeast Asia, the company said. According to The Record, the implant made it possible for outsiders to access and drain funds from the compromised wallets.
Decrypt reported that the hidden chip was designed to read the 24-word recovery phrase directly from the device's screen during the initial setup process. The method reportedly bypassed the wallet's Secure Element and its software, leaving those components untouched.
The tampering has been linked to a suspected theft of roughly $86 million, according to Decrypt.
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