A recent security breach has unveiled a critical vulnerability in smartphone chipsets that could lead to cryptocurrency theft. Ledger, renowned for its hardware wallets, has revealed the existence of this flaw which targets MediaTek’s Dimensity 700 chipset commonly found in various consumer devices. Researchers achieved full control over devices during testing using Electromagnetic Fault Injection (EMFI), a technique involving targeted electromagnetic pulses to disrupt and manipulate chip behavior. This poses a serious threat for mobile crypto wallets as an attacker could potentially steal the private keys responsible for holding digital assets, leading to irreversible fund loss.