Pete Rizzo, a notable Bitcoin historian and editor, issued a strong warning on X today, October 12, regarding the security of Ledger hardware wallets. He advised users to verify their devices for potential tampering, stating, "TUTORIAL SHOWING HOW TO VERIFY IF YOUR LEDGER #BITCOIN HARDWARE WALLET IS COMPROMISED QUICKLY OPEN THE DEVICE AND SEARCH FOR AN LTE, ANTENNA, eSIM OR MICROCONTROLLER DESIGNED TO CAPTURE SEED PHRASES IF YOU SUSPECT YOUR LEDGER WAS PURCHASED FROM A COMPROMISED THIRD-PARTY, CONSIDER MOVING YOUR FUNDS SELF-CUSTODY IS UNDER ATTACK "
Rizzo's warning comes as the digital asset market shows a 'Greed' sentiment with the Crypto Fear & Greed Index at 69. Bitcoin has recently seen significant volatility, including a report by David Gokhshtein indicating Lark Davis's view of a 90% chance that $57,000 was Bitcoin's bottom. Additionally, Gokhshtein Media reported Bitcoin nearing $84,000 following $95.72 million in short position liquidations. Concerns also persist over the Liquid Network, which has had peg-outs frozen for 35 days, with 598.5 BTC still missing.
The statement implies a heightened risk for individuals holding Bitcoin in hardware wallets, particularly those acquired from third-party vendors. Rizzo's view suggests that the principle of self-custody, a cornerstone of the Bitcoin ethos, is facing direct threats. Users may need to inspect their devices physically and consider transferring funds if any compromise is suspected, reinforcing the need for vigilance in digital asset security practices.
