Is Ledger finished after a $93 MILLION hack? On October 9th, attackers drained up to $93 million from 300+ wallets in just 47 minutes, according to on-chain researchers. Ledger has confirmed a hidden chip inside a device sold by CryptoBilis, one of its authorized resellers. The chip read the 24-word recovery phrase during setup and sent it out over a mobile network. Ledger says its own chips, software, and direct sales were not affected. To put this in perspective, Ledger has sold 7+ million devices and secures an estimated ~$100 billion in customer assets. Its entire business depends on one promise: that your crypto is safe. Yet this is its third major security incident since 2020, and the company reportedly shelved its $4 BILLION IPO in May. Meanwhile, spot Bitcoin ETFs let investors hold Bitcoin with no device, no seed phrase, and no reseller to trust. Where do you keep your crypto today?