OneKey Flags Possible Hardware Tampering in Ledger Hack, Plans Security Upgrades

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Hardware wallet maker OneKey said it is moving to strengthen security after suggesting the recent Ledger wallet hack may have involved hardware tampering to steal recovery phrases.

On Oct. 10, OneKey founder Yi He wrote on X, formerly Twitter, that the recent Ledger wallet hack may have used a method involving the insertion of a malicious device into the hardware. The company plans to tighten security from product packaging and internal design to distribution channels.

The incident took place on Oct. 9, when assets belonging to Ledger hardware wallet users in Southeast Asia were stolen. Losses are estimated at about $90 million, though the exact amount and attack route are still under investigation.