The Devastating Ledger Security Breach

The report describes a coordinated hardware-tampering campaign targeting Ledger Nano X units: attackers concealed microcontroller-equipped circuit boards (with LTE/eSIM) wired into the display SPI bus to intercept and OCR on-screen 24-word recovery phrases and exfiltrate them, enabling remote wallet drains. Over $80M in assets are reported stolen, and the operation allegedly involved the secret acquisition of a Southeast Asian authorized reseller; investigators have speculated about North Korean involvement but attribution remains unconfirmed.