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Ledger investigates crypto wallet drains exceeding $86 million

Original: ledger

Hardware wallet maker Ledger is investigating a wave of wallet drains, with losses now estimated at over $86 million, many linked to buyers of the CryptoBilis service. Questions are being raised about who planted backdoors in Ledger devices and how attackers gained access to users' funds. The company says it is working to determine the cause as affected users report drained accounts.

Why now: The scale of the losses and the unresolved question of who planted backdoors are driving concern among crypto holders about hardware wallet security.

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