Ledger Loss Reports Stem From Panic Scams, Not Tampered Devices: Monahan

This reframes a hardware-wallet scare as a social-engineering problem, which matters because the reputational risk lands on the device maker while the actual attack surface is the owner's behavior under stress. Scam ads, fake apps and phishing calls are cheap and scale far better than physically compromising a device. The open question is whether loss reports keep clustering around panic moments, since that would suggest the industry's weak point is incident response and user support, not secure hardware.