Ledger Investigating Reports of Drained Crypto Wallets as Estimated Losses Hit $86M

Ledger said Friday morning that it is investigating following reports of tens of millions of dollars’ worth of crypto being drained from its hardware wallets, warning users against activating devices purchased from a particular reseller. Social media lit up with posts from Ledger users claiming that funds had been drained from their wallets, despite saying they’d protected their wallet and seed phrase and had not signed any transactions enabling the movement of funds. “My Ledger wallet just got drained out of almost 100k USDT,” one purported user wrote on Reddit . “Seed phrase [was] handwritten and kept in a safe.

Source: Bitcoin.com News