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The largest supply chain attack in crypto history just happened — and these two men were the ones who caught it, documented it, and are now telling the world exactly how it works.

Rob sits down with Mark Karpeles, former CEO of Mt. Gox, and Zach Herbert of Foundation Devices to break down the Ledger hardware wallet attack that's already drained over $100 million from Bitcoin holders. Mark walks through how he discovered malicious chips hidden inside compromised Ledger devices, how they silently read seed phrases off the screen, and how a hidden cellular chip phones that data straight to attackers.

Here is what we cover:

• How Mark discovered the compromised Ledger devices and the implant hiding inside

• How the hidden chip reads your seed phrase off the screen and phones it home

• The hijacked Malaysian reseller behind the attack, and how it spread into Europe

• Why Ledger was targeted over Trezor, and whether the stolen funds can be tracked

• What hardware wallet security needs to look like next, including multi-party computation

If you hold crypto on a hardware wallet, hit subscribe so you never miss the updates that could protect your funds.

TIMESTAMPS

0:00 Ledger Supply Chain Attack Exposed

1:18 How Mark Discovered the Compromised Ledgers

4:29 $100 Million Stolen From Hardware Wallets

5:03 Opening the Ledger to Find the Implant

6:29 The SPI Implant That Reads Your Screen

9:56 How the Implant Steals Your Seed Phrase

13:51 The Hidden LTE Chip Phoning Home

17:00 The Timeline Behind the Attack Going Public

18:31 $86 Million Drained in 24 Hours

20:15 Did Ledger Know About This for Months?

24:00 The Malaysian Reseller Behind the Attack

26:56 How Hardware Wallet Companies Vet Resellers

30:21 Tracking the Stolen Crypto On-Chain

34:20 The Attack Spreads to Europe

36:05 Inside the Criminal Implant Supply Chain

39:10 Why Trezor Wasn't Targeted

42:08 Why Ledger Was the First Target

45:27 The Future of Hardware Wallet Security

50:20 Multi-Party Computation as the Fix

54:30 Making Self-Custody Easy for Newcomers

56:27 Why the Industry Must Professionalize

59:07 Staying Optimistic About Bitcoin's Future

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❗ DISCLAIMER ❗

Bitcoin News is not a financial adviser. All opinions expressed by us or our guests in these videos is for informational purposes only, and should not be treated as investment or financial advice of any kind. Any information provided during the video is general in nature and does not take into account the viewers specific circumstances.

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