Ledger Finds LTE Implant That Stole Recovery Phrases in Suspected $86M Drain

Ledger said its security research team has found an unauthorized hardware implant that captured recovery phrases inside wallets sold by Southeast Asian reseller CryptoBilis, in a tweet on Tuesday. The Paris-based hardware wallet manufacturer said it confirmed the implant on Saturday in one affected user's device. All confirmed losses from the incident, which Ledger disclosed on Friday, involve devices sold through CryptoBilis , and the company said it has not verified a drain linked to a device bought elsewhere. A Ledger device, which the company calls a signer, shows a 24-word recovery phrase during setup.