Crypto World
Wells Fargo Files Trademark for ‘WFUSD,’ Signaling Stablecoin Ambitions
While the bank has yet to confirm its plans, the move could mark a first step toward launching its own USD stablecoin.
Wells Fargo has quietly filed a trademark application with the U.S. Patent and Trademark Office for the ticker “WFUSD,” per a filing dated March 10.
The trademark covers cryptocurrency exchange services, blockchain-based payment verification, crypto hardware wallets, and software for accessing NFTs on-chain, among a slew of other goods and services.
While Wells Fargo has yet to publicly confirm its plans for the trademark, the ticker closely mirrors established naming conventions for stablecoins tickers, strongly suggesting the $1.9 trillion-asset bank is laying the groundwork for its own dollar-pegged digital currency.
The WFUSD filing arrives in the wake of broader Wall Street stablecoin ambitions. As The Defiant reported, last May, companies co-owned by Wells Fargo, JPMorgan Chase, Bank of America, Citigroup, and other large banks — including Zelle operator Early Warning Services and real-time payment network The Clearing House — were considering launching a joint stablecoin, reportedly “intended to fend off escalating competition from the cryptocurrency industry.”
As far back as 2022, Wells Fargo was also part of a group of big U.S. banks exploring integrating blockchain tech for connecting deposits, as The Defiant reported at the time.
Since then, Citigroup CEO Jane Fraser publicly confirmed the bank is evaluating its own proprietary token, telling analysts on a Q2 2025 earnings call that “we are looking at the issuance of a Citi stablecoin,” per The Defiant.
The pressure to act is only mounting. In December, U.S. neobank SoFi unveiled SoFiUSD, making SoFi the first U.S. national bank to release an “open access” stablecoin on a public blockchain — Ethereum — backed 1:1 by cash reserves held in its Federal bank account.
SoFi has since inked a partnership with Mastercard to use SoFiUSD across its global payments network.
Whether WFUSD represents Wells Fargo going it alone or hedging its bets ahead of the consortium effort remains unclear.
The stablecoin sector grew by over $100 billion in 2025 alone. Acording to data from DefiLlama, total stablecoin circulating supply currently stands at $314.7 billion. As The Defiant reported, that figure was near $310 billion as of just mid-December 2025 — up more than 50% from roughly $205 billion at the start of the year.
This article was generated with the assistance of AI workflows.
Crypto ATM fraud surged to $333 million in the US in 2025, with complaints received by the FBI growing 33% in the year as scam networks became more industrialized while tapping into advanced AI deepfake technology.
Crypto ATM fraud is one of the fastest-growing financial crime categories in the US, according to cybersecurity firm CertiK in its latest report shared with Cointelegraph on Thursday, explaining that criminal organizations are exploiting the “speed and pseudonymity” of crypto ATMs or “kiosks” to extract funds from victims at an accelerating pace.
The FBI recorded more than 12,000 complaints between January and November 2025, also a 33% increase from the prior year. The US accounts for 78% of the world’s 45,000 cryptocurrency machines, said CertiK.
Their ability to convert cash to crypto in under five minutes with minimal identity verification “makes them the lowest-friction extraction channel available to scammers,” the firm added.
Elderly more vulnerable to social engineering
The report also noted that there was an “attribution gap” because the blockchain only records the operator-to-destination transfer, not the victim’s identity. This makes forensic tracing extremely difficult without court orders for operator records.
Around 86% of losses involve victims over 60, as older adults are disproportionately vulnerable due to “liquid savings,” lower crypto literacy, and social isolation.
However, younger victims are increasingly appearing in romance or investment scams, commonly known as “pig butchering,” which is one of five primary tactics used by scammers.
The other four approaches are government impersonation, tech support fraud, “grandparent scams,” and fake fraud recovery offers.
Related: DC attorney general sues Athena Bitcoin over alleged hidden fees
Unlike phishing or wallet-draining attacks, which involve compromising private keys or tricking users into signing malicious smart contract requests, ATM-based fraud “relies entirely on social engineering to induce the victim to perform a voluntary physical action at a kiosk,” stated CertiK.
AI is making things worse
AI-enabled social engineering scams were 4.5 times more profitable than traditional methods in 2025, reported CertiK.
The integration of “real-time deepfake synthetic media” into scam and fraud operations represents the most “significant near-term escalation,” it stated.
“AI-driven personalization tools enable scammers to scrape social media data and construct hyper-targeted scripts that mirror the specific language, appearance, and communication patterns of the victim’s trusted contacts.”
The profile of crypto ATM scammers has also shifted from independent actors to structured transnational criminal organizations operating with corporate-level divisions of labor, according to CertiK.
“Transnational criminal organizations are industrializing ATM-based extraction at unprecedented scale.”
Wyoming Senator Cynthia Lummis said in September that she hopes the crypto market structure legislation will help tackle ATM fraud by punishing bad actors without limiting innovation.
In February 2025, US Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act, aiming to introduce safeguards for crypto kiosk users.
Magazine: China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express
Ghana has selected 11 crypto trading platforms to participate in a regulatory sandbox where they will “pilot their products and services in a controlled environment under the regulatory oversight” of the Securities and Exchange Commission.
Summary
- Ghana’s Securities and Exchange Commission has admitted 11 crypto platforms into a regulatory sandbox to test their services under the country’s new Virtual Asset Service Providers Act.
- The 12-month pilot will allow platforms with market-ready products to transition to full licenses after six months.
- Regulators say data gathered during the program will guide future licensing guidelines as Ghana builds a formal regulatory framework for digital asset services.
Starting March 10, Africoin, Blu Penguin, Goldbod, Hanypay, Hyro Exchange, HSB Global, KoinKoin, Whitebits, Vaulta, XChain, and Bsystem will start operating under the country’s Virtual Asset Service Providers Act for the next 12 months.
After the first six months, the SEC will assess which of these platforms have products and services that are market-ready and can transition to a full license to operate. Meanwhile, those that fail to meet the requirements will continue operating within the sandbox for the remaining six months.
According to the commission, the sandbox has been designed to “support responsible innovation while strengthening investor protection, market integrity, and compliance with anti-money laundering and counter-terrorism financing standards.”
Data accumulated during this pilot will help shape “future policy and licensing frameworks for virtual assets services,” it added.
The SEC plans to develop guidelines and subsequently publish them for prospective applicants to apply under the various activity-based licensing categories outlined in the Virtual Asset Service Providers Act.
Ghana’s plans to start licensing crypto platforms were first disclosed in July last year, when Governor of the Bank of Ghana, Johnson Asiama, said regulators had already begun working on a draft framework intended to bring digital asset activity under formal oversight.
“We are actually late in the game,” Asiama said at the time, referring to the growing number of Ghanaians already using cryptocurrencies for transactions despite the absence of a clear regulatory structure.
Subsequently, in December, regulators passed the Virtual Asset Service Providers (VASP) bill, which established the provisions that would allow crypto trading and related digital asset services to operate legally in the country under the supervision of the Bank of Ghana and the Securities and Exchange Commission.
As one of the larger crypto markets in the region in terms of grassroots adoption, Ghana is expected to see greater migration toward regulated platforms if authorities continue shaping a more structured and industry-friendly environment.
Earlier this month, crypto brokerage firm Blockchain.com said it had expanded operations into Ghana as part of a broader push to build digital asset infrastructure across some of the region’s fastest-growing markets.
Bitcoin-buying company Metaplanet has established a new venture firm, Metaplanet Ventures, to support Bitcoin ecosystem development in Japan, as the country looks to recognize Bitcoin as a regulated financial asset within the next two years.
Metaplanet said on Thursday that Metaplanet Ventures K.K. will be tasked with funding, incubating and scaling companies that build regulated Bitcoin financial infrastructure, particularly those that strengthen Japan’s domestic ecosystem and make it a stronger competitor internationally.
Metaplanet said it is expanding its Bitcoin strategy on the expectation that Bitcoin (BTC) will be reclassified as a regulated financial asset by January 2028.
Metaplanet Ventures will be split into investment, incubation and grants programs.
The investment program will support seed-stage through to growth-stage startups that build Bitcoin infrastructure on the Bitcoin layer 2 Lightning Network and on other payments and lending-focused platforms.
Metaplanet said startups focused on stablecoins, trading in the options and derivatives markets, custody and tokenization may also receive backing, indicating that it may support crypto infrastructure beyond the Bitcoin ecosystem.
The incubator program will focus on early-stage Bitcoin and crypto infrastructure startups in the country, while the grants program will fund Bitcoin open-source developers, educators, researchers and community organizers.
Metaplanet said it expects to pour 4 billion Japanese yen ($25.2 million) into these programs over the first two to three years, which will be funded by cash flows generated from the company’s Bitcoin income business.
Related: STRC may help Strategy reach 1M Bitcoin milestone before BlackRock
Metaplanet CEO Simon Gerovich and board director Shinpei Okuno were named Metaplanet Ventures representatives.
Stacking Bitcoin still Metaplanet’s main priority
Despite the expansion into crypto startup investment, Metaplanet said accumulating and holding Bitcoin over the long term remains its “core focus.”
Metaplanet is the fourth-largest corporate Bitcoin holder, with 35,102 Bitcoin worth $2.44 billion marked on its balance sheet, BitcoinTreasuries.NET data shows.
The Gerovich-led company said in June that it aims to accumulate 210,000 Bitcoin — 1% of the Bitcoin network’s maximum supply — by the end of 2027.
Magazine: Bitcoin may face hard fork over any attempt to freeze Satoshi’s coins
TLDR:
- Ghana admits 11 firms into crypto sandbox to test exchanges and tokenization under VASP Act.
- Over 3 million Ghanaians use crypto, with transaction volumes rising 80% amid growing adoption.
- Blockchain.com expands to Ghana after 700% growth in Nigeria’s digital asset market.
- Sandbox supports regulatory compliance, investor protection, and responsible innovation for firms.
Ghana’s crypto regulatory sandbox has launched under the 2025 VASP Act, allowing 11 firms to test digital asset services.
The initiative aims to regulate the market, protect consumers, and build a structured framework for the country’s growing crypto ecosystem.
Ghana opens regulatory sandbox for virtual asset providers
The Ghana crypto regulatory sandbox allows selected firms to operate under regulatory supervision. The Securities and Exchange Commission and Bank of Ghana oversee the 12-month pilot.
Eleven firms, including Hyro Exchange, Koinkoin, and Africoin, have been admitted. The sandbox is the first operational step following the Virtual Asset Service Providers Act (2025), which legally recognizes digital asset companies.
The programme permits firms to test cryptocurrency exchanges, tokenization of assets, and custodial services within a controlled environment.
Companies meeting the regulatory requirements may receive full licences after six months. Others can continue testing until the program ends. The SEC will use lessons from the sandbox to prepare final licensing guidelines for virtual asset service providers.
Regulators have emphasized compliance with anti-money laundering and counter-terrorism financing standards. The sandbox aims to encourage responsible innovation while strengthening investor protection and market integrity.
Ghana’s framework contrasts with Nigeria’s approach, where the SEC has paused new sandbox admissions. Ghana’s pilot indicates a structured path for regulated digital asset adoption, positioning the country as a potential hub for crypto innovation in West Africa.
The programme also includes local and international players like Blockchain.com, Hanypay, and Vaulta. Their participation demonstrates confidence in Ghana’s regulatory clarity and the growing potential of its crypto market.
Growth of crypto adoption and Blockchain.com expansion
Crypto adoption in Ghana has increased rapidly, with more than 3 million users now participating in the market. Transaction volumes have surged by 80 percent, reaching over $3 billion by 2024.
These figures highlight the demand for regulated digital asset services in the country.
Blockchain.com, which reported over 700 percent growth in Nigeria, is expanding into Ghana to meet rising regional demand.
The company has already seen a 140 percent increase in active Ghanaian users and an 80 percent growth in transactions. The firm is focusing on infrastructure development, regulatory engagement, and local partnerships.
Stablecoins and other digital assets are expected to improve cross-border payments and support expanding digital commerce ecosystems in West Africa.
The sandbox provides an environment for firms like Blockchain.com to test market-ready products while maintaining compliance.
Ghana’s approach aligns market growth with investor protection and responsible innovation, creating a regulated framework for virtual asset services.
The regulatory pilot demonstrates Ghana’s commitment to balancing rapid crypto adoption with legal and operational oversight.
With the sandbox, firms can innovate safely while contributing to a structured and secure digital asset ecosystem.
XRP futures traders appear to be pulling back as open interest dropped, funding rates weakened, and exchange transaction activity fell significantly.
XRP failed to break above $1.40 on Wednesday despite early-week optimism about a potential resolution to the Iran conflict. At the same time, derivatives data suggest speculative activity in the market has been cooling.
Open interest in XRP derivatives has declined sharply across major trading platforms after a period of strong speculative activity that accompanied the asset’s rally toward its cycle peak in July 2025.
Signs of Cooling After Heavy Long Liquidations
New data tracking multi-exchange open interest shows that the total value of active futures contracts has dropped noticeably across nearly all major exchanges, which indicates a reduction in leveraged participation. Open interest represents the total number of futures contracts that remain active in the market, and a decline typically means that traders are closing positions or reducing exposure.
Despite the broader decline, Binance continues to hold the largest share of XRP derivatives activity, as open interest currently stands at approximately $222 million. Bybit follows with about $195 million in open interest. While these figures remain higher than the lowest levels recorded in 2024, they are significantly below the high readings observed during mid-2025 when XRP reached its cycle high and speculative trading activity intensified.
After examining liquidation data across exchanges, CryptoQuant found a clear dominance of long liquidations compared with short liquidations, both in frequency and total value. This pattern suggests that bullish traders have been disproportionately affected by recent market volatility.
The report also said that heavy long liquidations typically push funding rates lower, and often bring them back toward neutral levels or even into negative territory. Such conditions generally reflect weakening bullish sentiment and increased caution among derivatives traders.
Market Participation Slows
Meanwhile, activity involving XRP transfers to and from major cryptocurrency exchanges has dropped to its lowest level since the indicator was introduced. The data comes from the Multi Exchanges Daily Depositing/Withdrawing Transactions Delta, a metric that tracks the number of XRP deposit and withdrawal transactions across 15 major trading platforms.
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According to the analysis, the sharp decline in transaction activity comes after XRP’s price fell by more than 60% from the highs recorded last summer. The drop in deposits and withdrawals means that fewer users are currently interacting with exchanges, in what appears to be a notable slowdown in overall exchange-related activity for the cryptocurrency.
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TLDR:
- February CPI rose 2.4% YoY with core inflation at 2.5%, remaining above the Fed’s 2% target.
- Monthly CPI growth slowed slightly, aided by stable vehicle prices and lower rental inflation.
- Rising oil prices after the Iran conflict may push March inflation higher than February levels.
- Weak payroll growth and higher unemployment complicate the Fed’s March 18 policy decision.
February CPI data showed stable inflation in the United States during February. The figures matched expectations and indicated slower price growth.
However, rising oil prices and weaker employment data now place the Federal Reserve in a difficult position before its March policy meeting.
February CPI Shows Cooling Trend Before Energy Shock
February CPI increased 2.4% compared with the same period last year. The figure matched January’s reading and aligned with market expectations.
Core inflation also remained steady at 2.5%, still above the Federal Reserve’s 2% inflation target. Monthly price growth reached 0.3% in February after a 0.2% increase in January.
Core CPI rose 0.2%, slightly lower than the previous month. Lower rental inflation and stable vehicle prices helped keep monthly increases relatively moderate.
Some consumer categories still experienced rising costs. Grocery prices climbed 0.4% during February and rose 2.4% compared with a year earlier.
Clothing prices also increased sharply, rising 1.3% during the same month. Energy prices moved higher during February but remained manageable.
Gasoline prices increased 0.8% during the month yet remained lower than last year’s levels. These numbers represent conditions before the recent geopolitical conflict affected global energy markets.
Bull Theory noted the timing challenge surrounding the data release. The post stated that the Federal Reserve received the “perfect inflation report at the worst possible time.”
Oil Price Surge and Weak Jobs Data Complicate Fed Decision
Energy markets changed rapidly after the conflict involving Iran began near the end of February. Shipping disruptions in the Persian Gulf pushed oil prices sharply higher within days.
Energy costs, therefore, started rising after the February CPI measurement period ended.
Oil prices briefly approached $120 per barrel before falling back to near $87.
The market remains unstable because shipping routes through the Strait of Hormuz face ongoing risks. Around 20% of global oil shipments normally pass through this route.
Fuel prices are already increasing in the United States. The national average price for regular gasoline reached about $3.58 per gallon.
That represents an increase of roughly 20% within one month. Higher fuel costs often affect transportation, logistics, and airline travel.
Businesses may also experience higher shipping expenses if energy prices remain elevated. Economists, therefore, expect fuel costs to influence inflation in the next report.
At the same time, labor market data shows signs of slowing. Payroll growth reached only 58,000 jobs in February, far below expectations of 126,000.
The unemployment rate also rose to 4.4%. The Bull Theory summarized that policymakers now face three signals: cooling inflation, weakening jobs, and rising energy costs.
VanEck has made some of its digital asset exchange-traded products (ETPs) available to 401(k) holders in the United States, signaling a push to integrate crypto-focused investments into traditional retirement accounts.
On Wednesday, the fund issuer said a selection of its digital asset ETPs will be offered through Basic Capital, a fintech platform that provides employer-sponsored 401(k) plans.
The companies did not specify which VanEck digital asset ETPs will be available on the platform. Within crypto, VanEck is best known for the VanEck Bitcoin Trust (HODL) and the VanEck Ethereum Trust (ETHV), its spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs).
The asset manager also offers the VanEck Digital Transformation ETF (DAPP), often referred to as its “Onchain Economy” ETF, which invests in companies involved in the digital asset ecosystem.
VanEck expanded its crypto product lineup earlier this year by launching a spot Avalanche ETF in the United States.
The US Department of Labor in May backtracked on previous federal guidance that discouraged 401(k) plan providers from offering crypto among their investment options.
Basic Capital was founded in 2021 and raised $25 million in a Series A funding round last year led by venture capital firms Forerunner and Lux Capital. The company’s 401(k) platform gives investors access to alternative assets beyond traditional stocks and bonds.
Related: Ethereum is very much ‘the Wall Street token,’ VanEck CEO says
Policy shift opens retirement plans to alternative assets
The move comes amid growing regulatory momentum to integrate digital assets into traditional retirement planning.
In August, US President Donald Trump signed an executive order directing federal agencies to expand access to alternative assets in 401(k) plans, including digital assets.
The directive called on agencies such as the Treasury Department and the Securities and Exchange Commission to coordinate on potential rule changes to support the broader adoption of alternative investments in retirement accounts.
The policy shift comes as more Americans rely on workplace retirement plans to build long-term savings.
Employer-sponsored defined contribution plans held about $13.9 trillion in assets as of September, including roughly $10 trillion in 401(k) plans, according to the Investment Company Institute.
Separate data from Vanguard’s “How America Saves 2025” report suggests savings rates are also rising. Nearly half (45%) of participants increased their contribution rates in 2024, reflecting the growing use of automatic contribution features in employer plans.
Related: Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets
The one thing that remains constant in the crypto market, irrespective of whether it’s booming or not, is hacks. Thursday, hackers grabbed Bonk.fun’s domain, the Raydium- and BONK-backed Solana token launchpad, and planted a wallet drainer there.
Operator Tom announced the hack to the community through his X account @SolportTom. “Do not use the http://bonk.fun domain until further notice, hackers have hijacked a team account forcing a drainer on the DOMAIN,” he said. Bonk’s official X handle confirmed the same.
The breach underscores persistent vulnerabilities in crypto frontends, even as institutional participation booms and ecosystems become bigger.
Tom added that past connections to bonk.fun remain safe, as do trades executed through third-party terminals. Only those who signed a bogus terms-of-service message on the compromised site after the breach were hit and swift community alerts appear to have limited the damage.
“We’re doing everything in our power to fix the situation,” the operator said, prioritizing users who have trusted the platform for the past eight months. The operator did not disclose the exact amount of dollar losses, but emphasized that the incident was caught quickly.
TLDR:
- Marathon transfers 298 BTC to Cumberland, adding miner-linked supply to the market.
- Spot Taker CVD shows buyers absorbing miner sell pressure efficiently.
- Bitcoin NVT drops 33.8%, indicating rising transaction activity across the network.
- Funding Rates turn negative, signaling increased short positioning in derivatives markets.
Marathon moves 298 BTC to Cumberland, introducing miner-linked supply into Bitcoin markets. Spot buyers continue absorbing sell pressure, while derivatives funding rates indicate rising bearish positioning among traders.
Miner Transfers Add Supply While Spot Buyers Absorb Pressure
Marathon Digital recently transferred 298 BTC, valued at approximately $20.57 million, to Cumberland. Lookonchain data indicated multiple transactions leaving MARA-linked wallets roughly six hours before reporting.
Such miner movements often attract attention because miners tend to liquidate coins to meet operational or liquidity requirements. Despite the influx, the transfer’s size remains moderate relative to overall Bitcoin liquidity.
Historically, similar miner distributions have been absorbed without creating substantial price disruptions. Traders still watch these flows closely, as miner selling has previously preceded short-term volatility spikes.
Spot order-book dynamics indicate strong buyer absorption of the incoming supply. The Spot Taker CVD (90-day) shows that aggressive buyers continue executing trades at the ask.
When taker demand dominates, sellers must incrementally raise offers to match ongoing buying activity. Such market behavior contributes to price stability during periods of miner distribution.
Even amid new supply, buyers maintain control, preventing abrupt declines or disorderly trading conditions. The MARA transfer has so far not disrupted broader demand across Spot exchanges, signaling market resilience.
Additionally, social sentiment reflects trader awareness, with discussions around miner transfers and buyer absorption circulating online. Monitoring these conversations complements quantitative metrics in assessing short-term market behavior.
Combined Spot data and social tracking provide insight into how miner-linked supply interacts with active demand.
On-Chain Metrics and Derivatives Indicate Mixed Market Signals
Bitcoin’s NVT Ratio fell to 27.7 after a 33.8% decline, signaling rising network transaction activity. A lower NVT suggests more coins are moving relative to market capitalization, reflecting a more active ecosystem.
Analysts often combine NVT data with other metrics to evaluate broader market conditions, including miner-related movements. The Stock-to-Flow Ratio increased by roughly 100%, showing heightened structural scarcity.
Fewer newly minted coins relative to the circulating supply reinforce Bitcoin’s long-term scarcity narrative. This metric remains relevant for assessing the ecosystem’s fundamental strength, even during minor distribution events.
Derivatives markets reveal contrasting sentiment, with Funding Rates dropping to −0.0007 after a 294.54% decline. Negative funding indicates growing short positioning, where short traders receive payments from long traders in perpetual futures.
Such heavily negative funding can also create short-squeeze conditions if spot prices stabilize or rise. Market participants interpret these dynamics as a divergence: Spot demand absorbs supply efficiently while derivatives sentiment grows bearish.
Traders track both on-chain metrics and funding rates to gauge potential volatility and supply-demand shifts. Overall, miner transfers, network activity, and scarcity measures continue to support Bitcoin’s structural fundamentals despite mixed short-term signals.
Mobile phone chipmaker MediaTek patched a vulnerability affecting its chipsets in January that could have allowed an attacker to steal crypto seed phrases on affected devices using just a USB cable and the right software.
The flaw was discovered by Ledger’s white-hat security team, Donjon, who had shared the vulnerability with MediaTek before a patch was rolled out on Jan. 5, though users who have not installed the latest security patches are advised to do so, said Ledger.
Test device compromised in 45 seconds
According to Ledger, the flaw came from MediaTek’s secure boot chain, a security mechanism built into its chips that ensures a phone starts safely and only with authorized software during startup.
In a statement shared with Cointelegraph, Ledger explained that the flaw meant an attacker with access to an Android phone could connect it to a computer via USB and bypass security protections, potentially gaining access to sensitive data on the device, including crypto wallet seed phrases.
Around 25% of Android phones use the Trustonic Trusted Execution Environment (TEE) and MediaTek processors, which the security flaw exploits.
Donjon demonstrated the hack by connecting a Nothing CMF Phone 1 to a laptop and compromising the device’s security in approximately 45 seconds.
“Without ever even booting into Android, the exploit automatically recovered the phone’s PIN, decrypted its storage, and extracted the seed phrases from the most popular software wallets: Trust Wallet, Base, Kraken Wallet, Rabby, Tangem’s Mobile Wallet and Phantom,” Ledger said.
While Ledger urged users to update their devices, a Ledger spokesperson told Cointelegraph they “don’t anticipate this to be an ongoing issue.”
Mobile phones are never safe, Ledger says
With almost 36 million people managing digital assets on their phones as of early 2025, even a single vulnerability could put a significant number of wallets at risk.
In December 2025, Ledger revealed that it tested an attack on the MediaTek Dimensity 7300 (MT6878), and bypassed its security measures to gain “full and absolute control over the smartphone, with no security barrier left standing.”
Ledger chief technology officer Charles Guillemet told Cointelegraph in June 2020 that mobile phones, whether Android or iPhone, are “very difficult to have secure applications.”
Related: SlowMist introduces Web3 security stack for autonomous AI agents
He reinforced a similar view on Wednesday, posting on X: “Smartphones aren’t built for security. Even when powered off, user data – including pins & seeds – can be extracted in under a minute.”
“This research highlights a fundamental architectural difference: General-purpose chips are built for convenience. Secure Elements are built for key protection. A dedicated Secure Element isolates secrets from the rest of the system, protecting them even under physical attack,” he said.
Magazine: All 21 million Bitcoin is at risk from quantum computers
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