đ¨Breaking: Ledger has gone big this timeâthe shelves in 6 countries + Hong Kong have been cleared by Ledger itself
A few hours ago, cold-wallet giant Ledger took to X directly:
It asked all dealers and distributors in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to stop sales and pull all products from shelves.
In plain English: the fire has spread from one dealer to half of Asia.
đ A recap of this ongoing saga:
October 9 â Someone found a âbugâ installed in a Ledger Nano X bought from CryptoBilis, a distributor: an LTE/eSIM module + a mobile signal antenna, sending the recovery phrase straight to a hackerâs server (SlowMistâs teardown report says the workmanship was quite professionalânot something an amateur could pull off)
Bitquery later estimated total losses of around $102M across 324 wallets; Tether froze $10M; even CZ weighed in
Yesterday â European retail giant MediaMarktSaturn pulled Ledger products from 1,000+ stores in 11 countries
Today â Ledger officially told dealers in 6 countries + Hong Kong to stop sales. This is the widest-reaching action since the investigation began.
đ Ledger deserves some credit for acting responsibly this time:
1. They acted decisively: instead of waiting for the investigation to finish, they cleared the shelves firstâeven if it means fewer sales, customers wonât end up buying âmodifiedâ devices
2. They clarified the situation: Ledger explicitly said its own systems, servers, and official website sales channel were not compromisedâso purchases from its official website are safe
3. The confirmed attack is limited in scope: so far, the confirmed thefts have only occurred in Southeast Asia; thereâs no evidence of incidents elsewhere (the European case is still only âsuspectedâ)
4. Even competitors are taking notice: Trezor also announced it would reduce the number of its dealersâthe whole industry is being pushed to audit its supply chain
â ď¸ A quick word of caution: If you previously bought from a Southeast Asian dealer, inspect your deviceâs exterior (look for extra holes or signs of an antenna). If youâre concerned, transfer your crypto to a new device purchased directly from the official website. As for recalls and compensation, Ledger hasnât said a thing yet.
To put it plainly: the biggest enemy of a cold wallet isnât some super-skilled hackerâitâs the shelf you bought it from. Ledger has learned a hard lesson about the supply chain this time.
Where did you buy your cold walletâfrom the official website or a third-party dealer? Compare notes in the comments and see if anyone else was affected đ
#Ledger #HardwareWallet
For reference only; this is not investment advice
A few hours ago, cold-wallet giant Ledger took to X directly:
It asked all dealers and distributors in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to stop sales and pull all products from shelves.
In plain English: the fire has spread from one dealer to half of Asia.
đ A recap of this ongoing saga:
October 9 â Someone found a âbugâ installed in a Ledger Nano X bought from CryptoBilis, a distributor: an LTE/eSIM module + a mobile signal antenna, sending the recovery phrase straight to a hackerâs server (SlowMistâs teardown report says the workmanship was quite professionalânot something an amateur could pull off)
Bitquery later estimated total losses of around $102M across 324 wallets; Tether froze $10M; even CZ weighed in
Yesterday â European retail giant MediaMarktSaturn pulled Ledger products from 1,000+ stores in 11 countries
Today â Ledger officially told dealers in 6 countries + Hong Kong to stop sales. This is the widest-reaching action since the investigation began.
đ Ledger deserves some credit for acting responsibly this time:
1. They acted decisively: instead of waiting for the investigation to finish, they cleared the shelves firstâeven if it means fewer sales, customers wonât end up buying âmodifiedâ devices
2. They clarified the situation: Ledger explicitly said its own systems, servers, and official website sales channel were not compromisedâso purchases from its official website are safe
3. The confirmed attack is limited in scope: so far, the confirmed thefts have only occurred in Southeast Asia; thereâs no evidence of incidents elsewhere (the European case is still only âsuspectedâ)
4. Even competitors are taking notice: Trezor also announced it would reduce the number of its dealersâthe whole industry is being pushed to audit its supply chain
â ď¸ A quick word of caution: If you previously bought from a Southeast Asian dealer, inspect your deviceâs exterior (look for extra holes or signs of an antenna). If youâre concerned, transfer your crypto to a new device purchased directly from the official website. As for recalls and compensation, Ledger hasnât said a thing yet.
To put it plainly: the biggest enemy of a cold wallet isnât some super-skilled hackerâitâs the shelf you bought it from. Ledger has learned a hard lesson about the supply chain this time.
Where did you buy your cold walletâfrom the official website or a third-party dealer? Compare notes in the comments and see if anyone else was affected đ
#Ledger #HardwareWallet
For reference only; this is not investment advice