POPA ReconLedger CEO Pascal Gauthier and ex-Mt. Gox CEO Mark Karpeles clashed on X on Oct. 17 over how Ledger handled hardware implants that steal the 24-word setup phrase and send it over LTE. Karpeles said Ledger got multiple implant reports in early 2026 and by March published an Academy guide showing both Joe Grand's handmade implant with improvised LTE antenna and a mass-produced self-aligning implant, which he called proof Ledger knew a serious attack was underway and a "five-alarm fire in the making" without an adequate warning (his reply, his correction). Gauthier answered "Coming from Mt Gox CEO... Come on man. You are no white knight. Get real" (his post). Karpeles replied Mt. Gox was irrelevant, said he held Ledger to a higher standard than himself, and accused it of downplaying the incident and still calling it the CryptoBilis incident though similar implants surfaced elsewhere. Ledger's standing line is that then-confirmed drains involved CryptoBilis-sold devices, with no verified drain from devices bought elsewhere, no compromise of its infrastructure or direct sales, and no alteration of the Secure Element or signatures (Ledger Oct. 13 update). Loss figures differ by source and are claimed, not verified on-chain here: the asker cites $90M+, a Laura Shin episode with Karpeles cites $100M stolen and $10M frozen with SEAL 911 help, summarized by Cointelegraph. The March article's exact publish date and what Ledger knew when beyond that post are not established from these posts alone.
Ledger CEO Pascal Gauthier and ex-Mt. Gox CEO Mark Karpeles clashed on X on Oct. 17 over how Ledger handled hardware implants that steal the 24-word setup phrase and send it over LTE. Karpeles said Ledger got multiple implant reports in early 2026 and by March published an Academy guide showing both Joe Grand's handmade implant with improvised LTE antenna and a mass-produced self-aligning implant, which he called proof Ledger knew a serious attack was underway and a "five-alarm fire in the making" without an adequate warning (his reply, his correction). Gauthier answered "Coming from Mt Gox CEO... Come on man. You are no white knight. Get real" (his post). Karpeles replied Mt. Gox was irrelevant, said he held Ledger to a higher standard than himself, and accused it of downplaying the incident and still calling it the CryptoBilis incident though similar implants surfaced elsewhere. Ledger's standing line is that then-confirmed drains involved CryptoBilis-sold devices, with no verified drain from devices bought elsewhere, no compromise of its infrastructure or direct sales, and no alteration of the Secure Element or signatures (Ledger Oct. 13 update). Loss figures differ by source and are claimed, not verified on-chain here: the asker cites $90M+, a Laura Shin episode with Karpeles cites $100M stolen and $10M frozen with SEAL 911 help, summarized by Cointelegraph. The March article's exact publish date and what Ledger knew when beyond that post are not established from these posts alone.
Ledger