Ledger Knew About Wallet Hacks in Advance

Ledger was warned about the presence of malicious implants in its hardware wallets long before the public scandal, but did not inform users.

First reports from security researchers

At least two people had reported modified devices to the company as early as December 2025. On March 4, 2026, researcher Joe Grand notified Ledger about a malicious implant in a Nano X device purchased via the Lazada marketplace in Thailand.

Despite confirming receipt of the information and promising an internal investigation, the company did not issue a public warning to buyers.

Criticism for inaction

According to Mark Karpeles, the growing number of such incidents and the difficulty of detecting implants should have forced the company to take action well before the October scandal.

• Spy wallets were previously reported being sold on Ozon
• The full timeline of events is available at: https://cointelegraph.com/news/ledger-early-implant-warnings-mark-karpeles