Ledger's theft today was the largest security incident, with a fake app costing $9.5 million

Ledger once again encountered security problems, and a third-party security agency estimated the economic loss caused by the incident to be approximately US$90 million. The company is investigating the loss of funds associated with sales activities of CryptoBilis, an authorized dealer in Southeast Asia, and has ordered it to suspend equipment sales and logistics distribution. It has also reminded users who have purchased equipment through this channel in the past 90 days to suspend operations or promptly transfer digital assets. The root cause of the incident is still in the investigation stage, and preliminary signs point to the possibility of physical tampering with supply chain links or equipment. It should be pointed out that Ledger has many financial losses caused by vulnerabilities related to hardware security and supply chain in history. Among them, the concentrated security research breakthroughs that occurred in 2018 are particularly typical, including Nano S devices verified by security experts before leaving the factory. Risk of tampering, as well as technical security vulnerabilities such as MCU bootloader bypass, isolation mechanism flaws, and Bitcoin change address injection.