Why Ledger’s Security Check Failed to Stop $91M Hack
Photo: Coindoo
Galaxy Research’s October 16 review links that hardware attack to coordinated cryptocurrency withdrawals. It adds a detailed on-chain account of the losses to earlier disclosures from Ledger and independent researchers about how the implants operated. What affected owners need to know Replacing the hardware is not enough if the recovery phrase was exposed. That phrase can restore the same wallet elsewhere. The required remedy is a newly generated phrase on trusted hardware, followed by a transfer of assets to addresses derived from it. In brief Genuine Check authenticates the Secure Element; it does not inspect every component inside the device.
Source: Coindoo
