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December 14, 2024

Ledger Faces Criticism After $2.5 Million Stolen in Security Breach

Ledger, a prominent name in cryptocurrency hardware wallets, is under fire following a theft that resulted in the loss of $2.5 million in digital assets. The breach involved a userโ€™s Ledger Nano S device, leading to the loss of 10 Bitcoin valued at about $1 million and NFTs worth approximately $1.5 million. This incident raises critical concerns regarding the security protocols of hardware wallets, typically trusted for protecting cryptocurrencies. Users are now questioning the effectiveness of Ledgerโ€™s security measures and looking for reassurances about their investment safety.

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