Ledger Discovers LTE Implant in Hardware Wallets Amid Suspected $86M Theft

A hidden cellular (LTE) implant was uncovered inside cryptocurrency hardware wallets made by Ledger, allegedly used to steal recovery phrases in a suspected $86 million theft, technology outlets Decrypt and ZERO DAY reported.

According to Decrypt, the company stated that the covert chip read the 24-word recovery phrase directly off the device screen during initial setup. The implant operated without modifying the wallet's Secure Element chip or its software, physically bypassing them.

The identities of those responsible for planting the backdoors have not yet been disclosed.