Today's topic: An abnormal hardware implant was discovered in a Ledger cold wallet. Are cold wallets really safer than exchanges?
Someone was able to install a “backdoor” in a cold wallet ahead of time. This is more alarming than an ordinary exchange hack.
On October 11, Ledger updated its investigation into the CryptoBilis incident involving its Southeast Asian distributor.
So far, it has confirmed that at least one affected hardware wallet contained an unauthorized hardware implant.
On-chain investigators estimate that the suspected amount stolen exceeds $86 million, but Ledger has yet to confirm the exact losses or determine the cause of every incident.
Here’s the most ironic part.
Many people move their BTC and ETH from exchanges to cold wallets because they’re worried an exchange might collapse or get hacked, and want to have full control of their assets.
But now it turns out that before the wallet even reaches them, someone may already have tampered with it.
It makes me wonder:
The crypto world has always emphasized “Not your keys, not your coins.”
But if we can’t completely trust even the device that generates our private keys, what exactly is this supposed financial sovereignty built on?
Of course, the confirmed cases so far are limited to the CryptoBilis channel. That doesn’t mean all Ledger devices are compromised.
If you had 1 million USDT, would you keep it on a major exchange like Binance, or in a cold wallet under your own custody?
I’d really like to hear what you’d actually choose.
#crypto #Web3 $ETH
Someone was able to install a “backdoor” in a cold wallet ahead of time. This is more alarming than an ordinary exchange hack.
On October 11, Ledger updated its investigation into the CryptoBilis incident involving its Southeast Asian distributor.
So far, it has confirmed that at least one affected hardware wallet contained an unauthorized hardware implant.
On-chain investigators estimate that the suspected amount stolen exceeds $86 million, but Ledger has yet to confirm the exact losses or determine the cause of every incident.
Here’s the most ironic part.
Many people move their BTC and ETH from exchanges to cold wallets because they’re worried an exchange might collapse or get hacked, and want to have full control of their assets.
But now it turns out that before the wallet even reaches them, someone may already have tampered with it.
It makes me wonder:
The crypto world has always emphasized “Not your keys, not your coins.”
But if we can’t completely trust even the device that generates our private keys, what exactly is this supposed financial sovereignty built on?
Of course, the confirmed cases so far are limited to the CryptoBilis channel. That doesn’t mean all Ledger devices are compromised.
If you had 1 million USDT, would you keep it on a major exchange like Binance, or in a cold wallet under your own custody?
I’d really like to hear what you’d actually choose.
#crypto #Web3 $ETH