It wasn’t Ledger’s chip that got hacked; someone soldered a 'spy board' behind the screen. Former Mt.Gox CEO Karpelès took apart a Nano X and found an eSIM, a chip capable of recognizing Ledger’s screen font and capturing mnemonic phrases word by word, plus an LTE module. Once the seed phrase is displayed, it gets sent out, and even the original factory verification still passes. But keep in mind, he mentioned that this device was a cheap one bought from platforms like Amazon, not from CryptoBilis. On-chain stats show that CryptoBilis buyers have already lost about $92.9 million, involving 311 wallets. So far, Tether has only frozen around $10 million.