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Ledger faces scrutiny over tampered hardware wallets

The allegations put supply-chain security and proactive disclosure at the center of the self-custody risk debate.

Mark Karpelès said Ledger had received reports since at least December 2025 that hardware wallets were tampered with and fitted with malicious components, but he had seen no public warning. Security researcher Joe Grand said he reported a compromised Nano X bought through Lazada in Thailand on March 4, 2026. Ledger acknowledged the report and said it was investigating internally.

Why it matters

The claims raise a supply-chain risk for self-custody users, who rely on hardware wallets to keep private keys isolated from online threats. A separate security incident disclosed on October 9 involved devices sold by authorized Southeast Asian reseller CryptoBilis.

Market impact

The immediate concern is trust in device distribution and the speed of security disclosure, rather than a reported protocol failure. Karpelès urged Ledger to warn users more proactively as similar reports increase and attacks become more sophisticated.

Source: [Ledger’s early implant warnings deserved more action, Karpelès says — Cointelegraph](https://cointelegraph.com/news/ledger-early-implant-warnings-mark-karpeles)

Frequently asked questions

  1. What reports did Ledger allegedly receive about its hardware wallets?

    Mark Karpelès said Ledger received reports that hardware wallets had been tampered with and fitted with malicious components since at least December 2025.

  2. When did Joe Grand report a compromised Ledger Nano X?

    Joe Grand said he reported the compromised Nano X on March 4, 2026, after buying it through Lazada in Thailand.

  3. How did Ledger respond to Joe Grand’s report?

    Ledger acknowledged the report and said it was investigating the matter internally.

  4. What was the October 9 security incident linked to?

    The incident involved devices sold by authorized Southeast Asian reseller CryptoBilis.

  5. What action did Mark Karpelès urge Ledger to take?

    Karpelès urged Ledger to issue more proactive warnings as similar reports increase and attacks become more sophisticated.

Source attribution
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