Ledger Nano S MCU firmware verification bypass
Who is affected
An attacker who handled a Nano S on firmware 1.3.1 or earlier, before delivery or after setup, could install firmware that controlled or captured the recovery seed. Devices on firmware 1.4.1 are not affected, according to Ledger.
What happened
The Ledger Nano S has two chips: a Secure Element that holds the keys, and a non-secure STM32 microcontroller (MCU) that runs the display, buttons and USB. The Secure Element checked the MCU firmware by asking the MCU to report back the contents of its flash memory. Security researcher Saleem Rashid showed that this check could be fooled, so a device could pass verification while running modified MCU firmware.
Ledger’s security bulletin LSB-002 states that the verification “was not robust enough”. Rashid’s proof of concept, a supply-chain scenario, made the device show recovery words chosen by the attacker instead of generating a new seed; he also described an evil-maid scenario in which modified firmware captures the PIN, seed and passphrase after setup. Ledger states that the Secure Element itself was not affected.
Rashid reported the issue to Ledger in November 2017. Ledger released a Nano S firmware update on 6 March 2018 and the write-up was published on 20 March 2018. Ledger states that firmware 1.4.1 fully secures the Nano S; at the time it said the Ledger Blue was also affected and a fix was in progress.
What Ledger advises:
- Buy directly from Ledger or an authorized reseller.
- Update the firmware before use; Ledger states a successful update proves the device was not compromised.
A secure element is a tamper-resistant chip built to store secrets and resist physical attacks such as side-channel analysis and fault injection.
Read full definitionFirmware is the software that runs on a hardware wallet itself: it generates keys, shows transaction details on the screen and signs.
Read full definitionRecovery is the process of restoring access to a cryptocurrency wallet using its seed phrase or mnemonic backup if the original wallet is lost or inaccessible.
Read full definitionPIN Protection is a security feature that requires a personal identification number (PIN) to access a cryptocurrency wallet or device, preventing unauthorized access.
Read full definitionA passphrase is an additional security layer for cryptocurrency wallets, acting as a 25th word in the BIP39 seed phrase, protecting access to hidden wallets.
Read full definitionFirmware Update installs new low-level software on a hardware wallet to fix bugs, enhance security, or add features in cryptocurrency devices.
Read full definitionSources
Independent reporting and research this entry was checked against.
Learn more
Guides on protecting yourself against this type of incident (Firmware vulnerability) and the glossary terms that describe it.
Can Hardware Wallets Be Hacked?
Hardware wallets are extremely secure, but not invincible. Understand the real risks and attack vectors.
Read GuideIs a Hardware Wallet Really Safe?
Hardware wallets are the safest option for most people — but you can still make mistakes. Here's what to know.
Read GuideFirmware
Firmware is the software that runs on a hardware wallet itself: it generates keys, shows transaction details on the screen and signs.
Bootloader
A bootloader is a small program that initializes hardware and loads the main operating system or firmware on a device, often used in blockchain hardware wallets for secure startup.
Firmware Update
Firmware Update installs new low-level software on a hardware wallet to fix bugs, enhance security, or add features in cryptocurrency devices.
Cite this entry
WalletInsights. “Ledger Nano S MCU firmware verification bypass”. Hardware wallet security incident tracker. Last verified November 3, 2026. https://walletinsights.io/en/security-incidents/ledger-nano-s-mcu-verification-bypass-2018/
Corrections and right of reply
Vendors, researchers and readers can send corrections or statements to security@walletinsights.io. We check them against the sources, update the entry and record the change in its log.
All Ledger incidents
- Hardware implants in Ledger devices sold by CryptoBilis
- Ledger Ethereum app clear-signing bypass hid all but one operation of a large batch
- Ledger Ethereum app swap flow could sign a token approval in place of a payment
- Ledger Secure SDK flaw let a host change transaction details after on-screen review
- Ledger Monero app exposed Keccak state, letting a compromised host recover spend keys