Ledger reports that some Android devices using the MediaTek Dimensity 73 chip have vulnerabilities that may be used to steal mnemonic phrases from hot wallets.
According to reports, once attackers gain physical access to the device, the relevant data can be extracted within minutes.
Renewed Attention on Hot Wallet Security Risks
Mnemonic phrases are core credentials for users to recover wallet assets, and their leakage may lead to financial losses.
Market analysis suggests that as the use of crypto assets on mobile platforms increases, the importance of hardware security and system-level protection continues to rise.