Crypto Markets Slip as European Retailers Pull Ledger Wallets
Crypto markets trended downward on Wednesday as Bitcoin fell to $83,692. Meanwhile, European retailers pulled Ledger hardware wallets over unapproved component modifications.
The cryptocurrency market experienced a negative trend on Wednesday, with Bitcoin down 0.71% to trade at $83,692.20 and a market capitalization of $1.68 trillion. Over the past week, the leading cryptocurrency posted a slight positive change of 0.21%.
Ethereum and Major Altcoins Decline
Ethereum dropped 0.97% to $2,510.23, bringing its market cap to $306.58 billion, while losing 2.60% over the week. Tether was the exception among major coins, edging up 0.02%, though down 0.05% weekly. Binance Coin fell 0.34% to $743.67 with a market cap of $99.03 billion, and Ripple declined 0.17% to trade at $1.3614.
Ledger Hardware Wallets Pulled from Shelves
Amid these market shifts, European electronics retailers and online platforms removed Ledger products following reports of unauthorized hardware modifications. The French security firm, founded in 2014, faced scrutiny after a German customer reported a suspicious component inside a device, though no funds were lost in that specific instance.
"Ledger confirmed that devices sold through Southeast Asian reseller CryptoBilis contained a hidden electronic component capable of reading recovery seed phrases during setup."
Blockchain researchers estimate potential losses from compromised devices could exceed $86 million, though Ledger executives stated that exact figures and affected user counts remain unverified. The company urged CryptoBilis to halt sales and shipments, emphasizing that its core systems and services were not breached.
