Ledger CEO clashes with ex-Mt. Gox boss over $90M wallet thefts

Ledger CEO Pascal Gauthier has publicly clashed with former Mt. Gox chief Mark Karpelès over warnings about modified hardware wallets linked to an estimated $90 million in cryptocurrency thefts. Summary Ledger CEO Pascal Gauthier challenged Mark Karpelès after criticism of the company’s warnings about tampered wallets. Karpelès pointed to a March security guide, but its September update leaves the original content uncertain. Ledger acknowledges its Genuine Check cannot detect added spying components when the original security chip survives. Researchers estimate losses above $90 million, although Ledger has not confirmed the final amount stolen publicly. The company paused CryptoBilis sales after investigators discovered devices modified to capture wallet recovery phrases remotely. In an October 17 exchange on X, Karpelès questioned whether the wallet manufacturer had communicated the danger of sophisticated spying implants clearly enough before customers reported losses involving devices sold through Southeast Asian reseller CryptoBilis. Gauthier defended Ledger’s security work and challenged the former exchange executive’s criticism. The dispute followed the discovery of unauthori...