Ledger’s early implant warnings deserved more action, Karpelès says
Ledger was contacted about tampered hardware wallets risks months before its latest security crisis, with former Mt. Gox CEO Mark Karpelès questioning its response.
Former Mt. Gox CEO Mark Karpelès claims that Ledger was warned about tampered hardware wallets months before its latest security crisis. Karpelès mentioned encountering at least two individuals who reported tampered devices to Ledger as early as December 2025. However, Karpelès stated he could not recall any public warning from Ledger in response to these reports.
Joe Grand, a security researcher, alerted Ledger in March 2026 about a malicious implant in a Nano X wallet purchased from an online marketplace in Thailand in August 2025. Ledger acknowledged Grand's findings and stated they were investigating internally, but Grand criticized the company for not proactively warning customers. Vietnamese crypto educator Tai Zen also contacted Ledger about a suspected implant in December 2025.
The Ledger security crisis came to light on October 9 when crypto losses were reported involving wallets sold through CryptoBilis, a reseller authorized in Southeast Asia. Karpelès emphasized that the increasing number and quality of reports should have prompted Ledger to take action, such as warning customers.
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