Keeping Bitcoin off an exchange doesn’t eliminate all risks.
And an investigation involving Ledger is showing why.
On October 10, the company confirmed that it found an unauthorized hardware implant in one of the devices belonging to affected users.
The investigation involves wallets sold by the reseller CryptoBilis in Southeast Asia.
The suspicion is that devices were tampered with somewhere along the distribution chain.
But we need to separate the facts from the speculation.
Ledger confirmed the presence of an unauthorized component in at least one device.
This does NOT mean that all Ledger wallets were compromised.
The company also says it found no evidence that its systems and services were breached.
While the investigation continues, CryptoBilis has suspended sales of hardware wallets.
And there’s an important recommendation.
Anyone who bought a device from this reseller and hasn’t set it up yet should avoid doing so.
For those who have already set one up, Ledger recommends considering a secure migration to a new device using a new recovery phrase.
This case also offers a lesson for every investor.
Security doesn’t begin when you transfer Bitcoin to your wallet.
It begins when you buy and verify the device.
And remember: Ledger will never ask you for your 24-word recovery phrase.
Be wary of messages, websites, and supposed support agents offering help in the wake of this news.
$BTC $ETH #bitcoin #Ledger #CryptoSecurity
Did you buy your hardware wallet directly from the manufacturer or from a reseller?
Have you verified the device’s origin?
And an investigation involving Ledger is showing why.
On October 10, the company confirmed that it found an unauthorized hardware implant in one of the devices belonging to affected users.
The investigation involves wallets sold by the reseller CryptoBilis in Southeast Asia.
The suspicion is that devices were tampered with somewhere along the distribution chain.
But we need to separate the facts from the speculation.
Ledger confirmed the presence of an unauthorized component in at least one device.
This does NOT mean that all Ledger wallets were compromised.
The company also says it found no evidence that its systems and services were breached.
While the investigation continues, CryptoBilis has suspended sales of hardware wallets.
And there’s an important recommendation.
Anyone who bought a device from this reseller and hasn’t set it up yet should avoid doing so.
For those who have already set one up, Ledger recommends considering a secure migration to a new device using a new recovery phrase.
This case also offers a lesson for every investor.
Security doesn’t begin when you transfer Bitcoin to your wallet.
It begins when you buy and verify the device.
And remember: Ledger will never ask you for your 24-word recovery phrase.
Be wary of messages, websites, and supposed support agents offering help in the wake of this news.
$BTC $ETH #bitcoin #Ledger #CryptoSecurity
Did you buy your hardware wallet directly from the manufacturer or from a reseller?
Have you verified the device’s origin?