Ledger CEO Pascal Gauthier and former Mt. Gox CEO Mark Karpelès publicly exchanged accusations after Karpelès alleged that hidden spy implants in hardware wallets were linked to more than $90 million in user losses.
Karpelès said Ledger was aware of the sophisticated implants as early as March 2026, citing a March 6 security guide that described spy chips and a Ledger academy topic from the same month that warned users to buy only from authorized resellers.
Ledger’s Genuine Check feature, according to Karpelès, cannot detect the implants if the original security chip remains intact, limiting its effectiveness against the alleged threat.
Karpelès also claimed to have created an affordable, non‑invasive device capable of detecting hidden spy implants without opening the hardware wallet, positioning it as a countermeasure to Ledger’s current tools.
In response, Gauthier dismissed Karpelès’s accusations, labeling him “no white knight,” and defended Ledger’s security posture while emphasizing the company’s ongoing education efforts through its academy.
The dispute highlights a broader concern for hardware‑wallet users about supply‑chain integrity and the ability of manufacturers to identify covert modifications, potentially influencing purchasing decisions and resale market dynamics.
This story was compiled by the Tradexus News Desk with the help of AI.
