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The Ledger company says that their chips are super safe so that even if some electronic engineers get your Ledger wallet, they cannot get your private key. But is that true?

For example, if I stole someone's purse and found a Ledger, is it possible I get his/her bitcoins?

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  • that what they said? look what happen to trezor. coolwallet.io/kraken-hacks-trezor-in-15-minutes
    – Cisco Mmu
    Jul 2 at 14:57
  • @Vojtěch: I added Ledger back to the title, since the question's body is specifically asking about Ledger. Also, given the different approaches of various hardware wallets regarding the use of secure elements, different ways to power them, etc. I would say that the question does not necessarily lead to a generic answer.
    – Murch
    Jul 2 at 15:55
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There is currently no way I could find that someone could extract a private key out of a Ledger wallet. So if someone steals your Ledger today, they should not be able to spend your coins.

However, since the private keys are physically stored in the device, someone successfully extracting them isn't a question of "if" but "when". In case of a firmware vulnerability it may be publicly disclosed only after it is patched with a firmware update, but whoever stole your Ledger simply won't install the update and will now have access to your funds.

In other words, if you lose your Ledger wallet (or any other hardware wallet) or it gets stolen, it's best to sweep your funds into a wallet with a new seed, sooner rather than later.

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If the information is encrypted, it is not possible at all، Because even after successful data extraction, it needs to be decrypted. Access to encrypted information is completely useless if decryption is not possible.

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