Uneasy Money: Why Ledger's Supply Chain Became a Nearly $100M Target

A genuine-Ledger supply-chain hack via reseller CryptoBilis cost users $70-100M, but post-disclosure panic and phishing now pose greater risk than the original exploit.

• Supply-chain attack scale: Genuine Ledger devices sold via reseller CryptoBilis had a hidden LTE chip/eSIM wired in, intercepting seed phrases; losses estimated at $70M-$100M over June-October.
• Genuine check bypassed: Unlike past fake-USB scams, these were real Ledgers that passed Ledger's genuine check because the implant intercepted data en route to the screen rather than tampering with the CPU or firmware.

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