Reports about wallet-draining by Ledger users. Total losses $86M+

[Darker45]

Unlike Coldcard, Ledger's days are also numbered. I can see them going down. If this hack had happened in the EU or the US, the consequences for Ledger would have been a lot bigger than they are now.

I really doubt that, you maybe do not read other platforms so much. Coldcard had a bad reputation even before the hack in many places except small elite circles, and Ledger is on a good reputation even more in shitcoin circles despite everything that they have done wrong so far..

Maybe for many of us here who have closely followed Ledger's blunders, the leaks and recovery subscription and all, Ledger seems going down. Somewhere else, however, it may be different. On the contrary, there are still many who defend it. We've recently heard CZ's take, for example.

In all fairness, strictly speaking, Ledger itself hasn't been compromised. Ledger's data leaks were like Trezor's data leaks. The vulnerabilities weren't their own but their third-party service providers'. Borrowing Jameson Lopp's word, these are "a bunch of edge case attacks".

In the latest scandal, what's involved is the supply chain, authorized resellers. This is far different from the case of Coldcard. The Coldcard problem was right inside the code, within the system itself, the firmware, the seed generation, the randomness. Ledger's was merely external infrastructure.

If what happened to Coldcard happens to Ledger, that's probably the time we'd see the brand going down. Fast. Coldcard had a small body of users. Despite that, the stolen amount surpassed $100 million. If it were Ledger, it could have easily been in the billions.

[Wind_FURY]

I do not know if this was shared here before, but a page was created to use AI and verify with an image if your parts of the Ledger have any spy chip

https://ismyledgersafe.vercel.app/



But do not just treat this as fact and also verify more deeply before you risk any bitcoin

Mark Karpeles also made a website and posts ALL of his, and others', "discoveries" in their Ledger hardware wallets,

https://karpeleslab.github.io/ledger_implant_osint/



It's not only happening in Southeast Asia. It's also in Europe as well. Plus this might be happening for YEARS, and the community found out about it this month when Mark Karpeles posted in X that he discovered an implant in his Ledger bought from "a Malaysian authorized third-party seller".

[joker_josue]

If what happened to Coldcard happens to Ledger, that's probably the time we'd see the brand going down. Fast. Coldcard had a small body of users. Despite that, the stolen amount surpassed $100 million. If it were Ledger, it could have easily been in the billions.

In the case of the tampered Ledger cards, the values ​​are not far from those of the Coldcard hack.

But I believe this case didn't get worse only because the criminals probably shut down the servers where they were receiving the information, to avoid being caught.

[greysonz]

Today is the annual Ledger Op3n 2026 conference, and the title is a bit symbolic in that everyone has already opened their Ledgers by 2026...



I expected something interesting and new to be revealed about the incident. Maybe something about clues leading to the locks. An article has just been published , but it doesn't contain anything particularly interesting, except perhaps about sales precautions:

Today we sent our Authorized Resellers and Distributors a reminder of the rules that already apply to returned devices: they can never be resold in any form, even if they look new and unopened. We also requiring new steps, effective immediately, that include: Ledger products should no longer go on shelves or displays, and stock should stay in the back and be handed over at the time of purchase. They must also tell us promptly about any customer report of an unusual product.

And the line about how, according to Lerger, the criminals spent millions of dollars on their scheme.

[Wind_FURY]

Today is the annual Ledger Op3n 2026 conference, and the title is a bit symbolic in that everyone has already opened their Ledgers by 2026...



I expected something interesting and new to be revealed about the incident. Maybe something about clues leading to the locks. An article has just been published , but it doesn't contain anything particularly interesting, except perhaps about sales precautions:

Today we sent our Authorized Resellers and Distributors a reminder of the rules that already apply to returned devices: they can never be resold in any form, even if they look new and unopened. We also requiring new steps, effective immediately, that include: Ledger products should no longer go on shelves or displays, and stock should stay in the back and be handed over at the time of purchase. They must also tell us promptly about any customer report of an unusual product.

Personally, like ColdCard, Ledger as a hardware wallet company has become one of the more untrusted brands in the community AND will probably have lower and lower sales in the next two to three years.

Perhaps it's also possible that Ledger will close its doors in five years?

[Pmalek]

Barely have money there anyway? I get there's a huge e-wallet scene in the EU, especially NL, but I am quite surprised by this.

Don't be. Some countries of the EU can be considered cashless already. You can hardly find places that accept cash. It's either cards or banking apps on the phone. Some bank branches have no cash at all. Let's say you live in a city and there are 20 different branches of your particular bank scattered around the entire city. A bank can make the decision that, for example, five of them are completely cashless. That doesn't include ATMs. But you can't walk into the bank, and ask a bank teller for a withdrawal from your account. They have no money to give you. You would need to go to one of their other branches for that.

[promise444c5]

I do not know if this was shared here before, but a page was created to use AI and verify with an image if your parts of the Ledger have any spy chip

https://ismyledgersafe.vercel.app/

How hard will it be to open your Ledger and discover if an additional component is attached to your device and/or its screen? It should be quite obvious at the hardware level..

Alright, what if the entire component is being replaced? Will the Ai spot it ?

Personally, like ColdCard, Ledger as a hardware wallet company has become one of the more untrusted brands in the community AND will probably have lower and lower sales in the next two to three years.

Perhaps it's also possible that Ledger will close its doors in five years?

You’re underestimating the power of marketing.. but hardware wallets in general could start having less sales if all of these continues.

[rdluffy]

If you hold a substantial amount of crypto, it's time to start investing in security today.

I used to say: "just buy a hardware wallet". But that's becoming less and less of a sure thing lately. How can a non-technical newbie invest in security to store his own Bitcoin keys if hardware wallets can't be trusted anymore?

Someone asked me this question a few days ago
It’s not that simple anymore (maybe it never was)

In short, I’ve always recommended keeping very small amounts on the exchange, maybe it wouldn’t cover the withdrawal fee. For amounts around 1,000 USD, for example, you could just use Electrum with an offline, generated seed, and for amounts above that, get a hardware wallet

But this time I replied that once you reach a considerable amount, it would be better to split it a bit between a Trezor, generate an offline seed using an old computer, and store it in a cold wallet, perhaps add a cell phone wallet...
Split it up to mitigate the risks a little

[Wind_FURY]

Personally, like ColdCard, Ledger as a hardware wallet company has become one of the more untrusted brands in the community AND will probably have lower and lower sales in the next two to three years.

Perhaps it's also possible that Ledger will close its doors in five years?

You’re underestimating the power of marketing.. but hardware wallets in general could start having less sales if all of these continues.

But what would be the alternative "in general", especially for those investors who use their devices for multi-coin wallets? It's easy for Bitcoin HODLers to set up an offline computer with the wifi/network cards removed for cold storage. It's not going to be easy for those multi-coin holders in my opinion. They need a hardware wallet.

[julerz12]

Introducing...Ledger ATOM: Get the security of Ledger with the convenience of everyday apps. ALL-IN-ONE smart device.

Watch the introductory trailer here. ^{I'm pretty sure it'll be flooded with dislikes very soon. lol}

Who's buying? 
Are they gonna sell this themselves without relying on authorized resellers now? 

[salad daging]

Introducing...Ledger ATOM: Get the security of Ledger with the convenience of everyday apps. ALL-IN-ONE smart device.

Watch the introductory trailer here. ^{I'm pretty sure it'll be flooded with dislikes very soon. lol}

Who's buying? 
Are they gonna sell this themselves without relying on authorized resellers now? 

Too expensive to buy a piece of this hardware, even the phone I use now is not that expensive. LoL
Which begs the question How secure will these hardware wallets be? Actually Ledger is selling their merchandise that continues to release new products, how are the concerns of users affected as reported?

For an expensive product, they will send their own, maybe?
Forget about Ledger.

[LoyceV]

Introducing...Ledger ATOM: Get the security of Ledger ~

I don't think this means what they think it means

[PrivacyG]

I don't think this means what they think it means

Do not be a hater.  I like the design.  The 'L' logo fits that image too well.

[promise444c5]

But what would be the alternative "in general", especially for those investors who use their devices for multi-coin wallets? It's easy for Bitcoin HODLers to set up an offline computer with the wifi/network cards removed for cold storage. It's not going to be easy for those multi-coin holders in my opinion. They need a hardware wallet.

Well, it’s a big IF.. I believe other  hardware wallets manufacturers already seen the situation on ground and already doing everything necessary to escape being the next target. But IF we experience more disasters, i believe altcoins owners will figure out other means to hold their altcoins or they can come back to only Bitcoin.. we will gladly welcome them back.

Don’t  worry, humans will always figure out something better ..

[oll]

A scammer lost $4,800,000 after his own Ledger wallet funds was stolen  

According to this post from Chainalysis, one of the biggest victims of the recent hack was a scammer who defrauded people and received over 60 bitcoins.
His scheme was as follows: victims were asked to inflate sales and reviews for a reward, and then required to top up their "negative balance" with their own money to receive their well-deserved payout.
Subsequently, during an incident involving chips, the scammer lost all the crypto from three wallets.


https://x.com/chainalysis/status/2110748973971468382

[nikola22]

Ledger published a report about hardware implant attack:

A highly organized criminal group carried out one of the most sophisticated attacks our industry has seen. Over many months, they bought genuine Ledger devices, opened them, fitted custom-built hidden components designed to capture the recovery phrase during setup, and put them back into distribution through resellers in South East Asia.

They built their own logistics and technology infrastructure with seeds collector servers, draining and laundering infrastructures. They were patient, they spent millions, and they struck in one coordinated operation, draining wallets.

There was no flaw in Ledger’s chip, operating system or servers. Ledger’s systems were not compromised. This was an attack on the distribution channel after the devices left our control.

also Ledger introduced new rules requiring authorized resellers to keep devices off display and hand them to customers at purchase:

We are tightening how our Authorized network handles Ledger devices. Today we sent our Authorized Resellers and Distributors a reminder of the rules that already apply to returned devices: they can never be resold in any form, even if they look new and unopened. We also requiring new steps, effective immediately, that include: Ledger products should no longer go on shelves or displays, and stock should stay in the back and be handed over at the time of purchase. They must also tell us promptly about any customer report of an unusual product.

https://www.ledger.com/blog-response-hardware-implant-attack

[LoyceV]

Ledger published a report about hardware implant attack:

There was no flaw in Ledger’s chip, operating system or servers.

That's an interesting way of putting it. Although I believe this is technically correct, it's incomplete:

They could have added anti-tamper measures. Instead, I found this card in my Ledger box years ago:

Ledger’s “genuine device” check passes, because the secure element really is genuine.

It would have been refreshing if they'd own up to their mistakes. They're basically telling customers their device doesn't need protection because the device can tell you if it was compromised. That turned out to be a huge mistake.

[Dogedegen]

Unlike Coldcard, Ledger's days are also numbered. I can see them going down. If this hack had happened in the EU or the US, the consequences for Ledger would have been a lot bigger than they are now.

I really doubt that, you maybe do not read other platforms so much. Coldcard had a bad reputation even before the hack in many places except small elite circles, and Ledger is on a good reputation even more in shitcoin circles despite everything that they have done wrong so far..

Maybe for many of us here who have closely followed Ledger's blunders, the leaks and recovery subscription and all, Ledger seems going down. Somewhere else, however, it may be different. On the contrary, there are still many who defend it. We've recently heard CZ's take, for example.

In all fairness, strictly speaking, Ledger itself hasn't been compromised. Ledger's data leaks were like Trezor's data leaks. The vulnerabilities weren't their own but their third-party service providers'. Borrowing Jameson Lopp's word, these are "a bunch of edge case attacks".

In the latest scandal, what's involved is the supply chain, authorized resellers. This is far different from the case of Coldcard. The Coldcard problem was right inside the code, within the system itself, the firmware, the seed generation, the randomness. Ledger's was merely external infrastructure.

If what happened to Coldcard happens to Ledger, that's probably the time we'd see the brand going down. Fast. Coldcard had a small body of users. Despite that, the stolen amount surpassed $100 million. If it were Ledger, it could have easily been in the billions.

Don't make many assumptions, a lot of these people are aware of the blunders or the issues that happened. I very rarely find people that are actually into crypto that do not know the latest news unless they are very passive holders or old people. When this ledger situation broke I saw it in all the groups that I watch on telegram but also on other platforms. It is more that people don't care or that they have other reasons not to care about that. Ledger is involved in many blockchains, companies, projects in different ways and their continued spending of a lot of money continued to defend their brand. As you see in your example with CZ, he's defending it because there are many business relationships in the background. Not every partnership or cooperation must be exposed publicly. Unfortunately that is the world that we live in.

[julerz12]

Ledger published a report about hardware implant attack:

To the users affected: we are with you.

https://www.ledger.com/blog-response-hardware-implant-attack

Wait... that's it? We are with you... in what? spirit? Emotional support?  
I'm sure those users would want compensation for their losses; after all, Ledger is the one who endorsed that reseller on their website.