You might think hackers are the biggest threat to hardware wallets. In reality, it could be the person who sold you the device.
On October 9, Ledger’s support account posted an unusual notice, saying it was investigating complaints from users in Southeast Asia who had lost funds. The complaints involved a reseller called CryptoBilis, which Ledger had asked to suspend all sales and shipments. The company outlined two steps: if you bought a device in the past 90 days and haven’t set it up yet, don’t turn it on; if you’re already using it, generate a new recovery phrase and move your assets.
The figures are still based on third-party estimates. On-chain investigator Specter traced transfers across Bitcoin, Ethereum, and Tron from hundreds of victims’ wallets, totaling more than $86 million. Arkham put the amount linked to related addresses at nearly $87 million, including about $42 million in Ethereum, $17.6 million in Bitcoin, and $16.5 million in USDT. MistTrack estimated the total at close to $90 million and said Tether had frozen some of the USDT. Ledger has not confirmed the amount or number of victims, nor clarified what caused the losses: counterfeit devices, tampered devices, or phishing after setup are all still possibilities.
CZ also posted that same day. Based on the information available, he said this looked more like a localized supply-chain attack, with a small number of people receiving devices that had been tampered with. He added that Ledger remains one of the oldest and most reliable hardware-wallet brands in the industry. His advice is simple but useful: leave a newly purchased hardware wallet unused for two or three weeks before transferring a large amount to it, and keep an eye out for news of any hacks.
A similar incident happened in 2023: the device’s main chip was replaced, and the software gave attackers one of 20 recovery phrases they already knew. They waited a month before draining the wallet.
The real line of defense for a hardware wallet isn’t the chip itself, but the entire chain of custody before it reaches you. If even one link is weak, the chip is just for show.
#中本聪国际社区Baoluo币商资本 #币安推出BinanceIntelligence #Binance
On October 9, Ledger’s support account posted an unusual notice, saying it was investigating complaints from users in Southeast Asia who had lost funds. The complaints involved a reseller called CryptoBilis, which Ledger had asked to suspend all sales and shipments. The company outlined two steps: if you bought a device in the past 90 days and haven’t set it up yet, don’t turn it on; if you’re already using it, generate a new recovery phrase and move your assets.
The figures are still based on third-party estimates. On-chain investigator Specter traced transfers across Bitcoin, Ethereum, and Tron from hundreds of victims’ wallets, totaling more than $86 million. Arkham put the amount linked to related addresses at nearly $87 million, including about $42 million in Ethereum, $17.6 million in Bitcoin, and $16.5 million in USDT. MistTrack estimated the total at close to $90 million and said Tether had frozen some of the USDT. Ledger has not confirmed the amount or number of victims, nor clarified what caused the losses: counterfeit devices, tampered devices, or phishing after setup are all still possibilities.
CZ also posted that same day. Based on the information available, he said this looked more like a localized supply-chain attack, with a small number of people receiving devices that had been tampered with. He added that Ledger remains one of the oldest and most reliable hardware-wallet brands in the industry. His advice is simple but useful: leave a newly purchased hardware wallet unused for two or three weeks before transferring a large amount to it, and keep an eye out for news of any hacks.
A similar incident happened in 2023: the device’s main chip was replaced, and the software gave attackers one of 20 recovery phrases they already knew. They waited a month before draining the wallet.
The real line of defense for a hardware wallet isn’t the chip itself, but the entire chain of custody before it reaches you. If even one link is weak, the chip is just for show.
#中本聪国际社区Baoluo币商资本 #币安推出BinanceIntelligence #Binance