Ledger considers the Coldcard exploit a warning for the entire hardware Bitcoin wallet industry. The flaw originated in a March 2021 firmware that used a software fallback instead of the hardware random number generator, making some private keys guessable. Losses have reached approximately $130 million. Ledger says its own devices were not affected because they rely on a certified secure element for recovery phrase generation. The company states that AI is accelerating vulnerability discovery and urges the industry to adopt machine-speed defenses.
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