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

Ledger, a hardware wallet manufacturer, has discovered an implant in some of its devices that could potentially steal recovery phrases, which are used to access cryptocurrency. The company stated that the hidden chip, present in a small number of Ledger Nano S devices, reads the 24-word phrase off the screen during the setup process, leaving the Secure Element and its software untouched. Ledger has advised users to secure their recovery phrases and not to use the affected devices.