$ZEC took in stolen Ledger-linked funds worth about 7.45 million dollars.
Stolen funds from a hardware wallet supply-chain attack were bridged into $ZEC through $NEAR Intents, per KuCoin's daily report. The case is a reminder that a wallet can be compromised before you ever open the box.
đ The news
Ledger confirmed unauthorized hardware implants in affected devices. All confirmed cases involve units sold by the Southeast Asian distributor CryptoBilis, per KuCoin and Zerocap. Reported losses are now above 86 million dollars. Ledger's own systems and direct sales channels are reportedly unaffected.
đ Why it matters
âą Attackers allegedly used the implants to steal private keys and recovery phrases.
âą Devices with intact secure elements may still pass Ledger's Genuine Check, so that test alone is not proof of safety.
âą Analysts have named more than 20 potentially affected distributors, but this is not fully verified.
đ The money trail
âą About 2,990 ETH, roughly 7.45 million dollars, went to Tornado Cash.
âą Funds were then bridged to ZEC through NEAR Intents.
âą On Binance, ZEC trades near 1,227 dollars (-7.8% in 24h) and NEAR near 5.25 (-10.4%).
âïž What this does and does not prove
Not every Ledger device is at risk. The confirmed cases trace to one distributor, and KuCoin calls it premature to say otherwise. It does show that third-party resellers are a weak link, and that cross-chain routes can be used to move stolen funds.
đ What to watch next
âą Whether Ledger names more affected distributors.
âą Whether more victims come forward from Europe or South America.
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đĄ My take: the lesson is practical. Buy hardware wallets only from the maker, keep recovery phrases offline, and spread holdings across more than one setup. This is my view, not advice.
đŹ Where did your last hardware wallet come from: official store, reseller or other?
#LedgerSupplyChain #WalletSecurity