Ledger faces scrutiny after user claims $2.5M in Bitcoin, NFTs stolen

Ledger’s security practices are under scrutiny after a crypto user reported losing approximately $2.5 million in digital assets stored on a Ledger hardware wallet, including 10 Bitcoin valued at $1 million and $1.5 million worth of NFTs.

The user, identified as @anchor_drops on X, claimed the assets were stolen from their Ledger Nano S device, which had been purchased directly from Ledger. According to the user’s post, the seed phrase was securely stored and never entered online, and no malicious transactions were signed.

“The device had not been used for two months,” @anchor_drops stated on X, raising questions about the security breach’s nature.

The incident has sparked mixed reactions within the crypto community. Some users suggested that the loss might be related to a long-standing vulnerability that had resurfaced. There were also widespread concerns about potential flaws in Ledger’s security system.

This was my story a few years ago. Made a purchase from ledger store, also understand that prior to this, I have used hot wallet and never had any sort of hack, but I got hacked a few days storing my assets on my ledger without interacting with any platform. https://t.co/FUmePh4JBi

— TARIQ𓃵 | 🗽🔥 💃 (@Teriqstp) December 13, 2024

Many were more skeptical, suggesting that there might be more to the story. Some community members suspected that the incident may be linked to human error rather than a flaw in Ledger’s security systems. This means that even if the user believed they were careful, they could have mishandled the wallet.

Sounds like a bunch of BS… do you care to tell true story? Either someone got your private key, you didn’t receive your ledger for the actual site or this is a load of rubbish

— $Link Marine 💪💯🎯 (@link_we80825403) December 13, 2024

Ledger has issues but what happened to you is not their fault. Somewhere in your chain of activities you were compromised.

There’s nothing anyone can do about it.

If you share your addresses maybe crypto / security community can help you get an answer.

— Jurad.eth (@jurad0x) December 13, 2024

A community member said that if this type of loss were widespread, many crypto holders would have lost their funds.

Ledger has yet to address the user’s report.