$93M drained in 47 minutes from 300+ wallets. Ledger just confirmed a hidden chip in devices sold by authorized reseller CryptoBilis — chip scraped 24-word seeds during setup and sent them out via mobile network.
Ledger says their own hardware + software is clean. Cool story, but this is their THIRD major security incident since 2020.
They've sold 7M+ devices securing ~$100B in assets. Their entire value prop is "your keys, your coins, stay safe." Yet they shelved a $4B IPO in May and now this.
Meanwhile spot $BTC ETFs exist. No device. No seed phrase. No sketchy reseller in the supply chain.
Hardware wallets or ETFs — where's your stack?
Ledger says their own hardware + software is clean. Cool story, but this is their THIRD major security incident since 2020.
They've sold 7M+ devices securing ~$100B in assets. Their entire value prop is "your keys, your coins, stay safe." Yet they shelved a $4B IPO in May and now this.
Meanwhile spot $BTC ETFs exist. No device. No seed phrase. No sketchy reseller in the supply chain.
Hardware wallets or ETFs — where's your stack?