Ledger Wallets Were Drained of $100 Million. Is Self-Custody Still Safe?

A hidden implant read Ledger seed phrases off the screen and sent them out over an eSIM. Mark Karpelès and SEAL 911's Jonty discuss what that means for self-custody.

========================================================

Thank you to our sponsor!

Put your crypto to work with Nexo: earn daily interest or borrow funds against your assets on one platform trusted by more than 10 million clients.

Find out more at ⁠https://unchainedcrypto.com/go/nexo-podcast-sn⁠.

Geo-restrictions, eligibility and terms apply.

========================================================

Quick favor: We're deciding what Unchained does next; new shows, stream times, what's worth paying for.⁠⁠⁠⁠⁠⁠⁠ Our listener survey⁠⁠⁠⁠⁠⁠⁠ takes five minutes, it's anonymous, and I read the write-in answers myself. Everyone who takes it can enter a drawing for a free year of Unchained Premium or Bits + Bips Premium. Open through Sunday, October 18.

— Laura

========================================================

An estimated $100 million or more has been drained from Ledger hardware wallets sold through CryptoBilis, an authorized reseller in Southeast Asia. The devices carried a hidden implant that reads the seed phrase off the screen and sends it out over an eSIM.

Jonty, founder of Pangolin Intelligence and a SEAL 911 contributor, and Mark Karpelès, CEO of Karpelès Lab, join Laura Shin to trace how the attack was found and how far it may reach.