Ledger investigates tampered devices linked to reported $90M in thefts
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
Ledger halted distribution via reseller CryptoBilis after devices were modified to intercept seed phrases. Researchers estimate over $90 million in losses, though Ledger has not verified the total.
Ledger CEO Pascal Gauthier addressed security findings on October 18, 2026, regarding tampered hardware wallets that researchers report are linked to more than $90 million in stolen cryptocurrency. Ledger halted distribution through third-party reseller CryptoBilis after identifying devices retrofitted with unauthorized electronics designed to capture seed phrases during setup and broadcast them over cellular networks.
Ledger stated that its Genuine Check mechanism cannot detect physical modifications if the secure element chip remains intact, crypto.news reported. Research estimates suspect losses exceeding $90 million, though Ledger has not confirmed that figure as a verified total. The company faced public criticism on October 17 from former Mt. Gox CEO Mark Karpeles over the prominence of its earlier warnings regarding supply-chain tampering.
Gauthier defended the manufacturer's security practices, stating that internal and cross-border supply-chain investigations remain ongoing. Ledger had updated an advisory titled Best Practices To Securely Buy Your Ledger Signer on September 18, 2026, which outlines risks from counterfeit units, preselected phrases, and modified devices.
Key facts
- $90M reported stolen
- CryptoBilis distribution halted
- Hardware-level tampering probe
- Genuine Check unable to detect
Read the original at crypto.news