According to CoinMeta, CEO Mark Karpel revealed that a Ledger hardware wallet was attacked in the supply chain, resulting in the theft of $100 million, of which $86 million was transferred within 24 hours. Karpel discovered a spy implant three weeks before the funds were stolen and contacted Ledger, but did not receive a response. The implant contained a hidden cellular modem that could read the screen's mnemonic phrases and could not be prevented from being stolen even with a password phrase set. Karpel stated that with $5 million, he could manufacture an implant that would only be detectable through X-rays.