Ledger Finds Hidden Chip in a Crypto Wallet as Theft Claims Hit $92 Million
Ledger confirms hidden chip in crypto wallet amid $92M theft claims
Ledger confirmed an unauthorized hardware implant inside one customer's wallet purchased through reseller CryptoBilis, which has halted all hardware wallet sales. Blockchain researchers estimate $92.9 million stolen from 311 wallets, though Ledger hasn't verified that figure or linked the implant to the thefts. Customers are urged not to set up CryptoBilis devices and to move funds to a new wallet with a fresh recovery phrase.
We have no indication that Ledger's security infrastructure, systems or services have been compromised.
- ArtTimeInvestor
Hardware wallets are not a solution to self-custody.
If one would make a list of things that can go wrong, starting from the supply chain that delivers parts to the manufacturer, malicious employees at the manufacturer, mistakes the manufacturer can make, attacks on the delivery chain from the manufacturer to the user, to mistakes the user can make creating, using and storing their keys - the list would contain hundreds of points.
- chinathrow
Exhibit #9387434 for reasons to stay out of crypto.
- Neywiny
My gut reaction is that a hardware implant would be too costly so there's no way they'd actually do that but I guess when you can steal $92M, anything is possible. They could even fab an esoteric chip and still make a profit.
- Freeaqingme
I'm guessing the best way to go about self custody these days is to have a multi sig wallet, based on multiple hardware wallets from different vendors.
- postalcoder
What a f-ing nightmare. It's stuff like this where I start to understand Apple's stance on right to repair. How do you maintain hardware security without strict provenance over every component in your device?