Mark Karpelès, former CEO of the Bitcoin exchange Mt. Gox, has launched a project to create an inexpensive device to detect spy implants in Ledger hardware wallets. This initiative comes after a major security breach involving tampered Ledger hardware wallets sold by a reseller in Southeast Asia. Independent researchers estimate that more than $90 million in crypto has been stolen. These malicious implants allegedly captured users’ 24-word recovery phrases during device initialization and transmitted them to attackers via an LTE connection. Ledger stated that the problem originated from criminals compromising the devices after the company no longer had control over them.
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