Crypto Firm Ledger Pivots To Smartphones After Cyberattack
The privately held company has unveiled the "Ledger Atom," a smartphone that will run Android apps, be available to consumers in summer 2027, and retail for $899 U.S.
Ledger says that the Atom features a secure operating system for sensitive tasks such as cryptocurrency transactions, encrypted messaging, and actions by artificial intelligence agents.
Ledger estimates that it can sell as many as 200 million of its new Atom "security phones" each year.
In a statement, Ledger said that the Atom is "not trying to replace your iPhone. It's a separate category."
Atom's launch takes Ledger beyond its core business making digital wallets to secure people's cryptocurrency holdings.
The new device is also being launched by Ledger after the company suffered a security breach that cost it $90 million U.S.
The Paris-based company lost an estimated $90 million U.S. across hundreds of crypto addresses earlier this year due to a cyberattack.
Ledger's own systems and devices were not compromised in the attack, according to the company. It did not confirm the total number of customers impacted by the incident.
The company says its new Atom smartphone will feature additional protections against physical tampering and online hacks.
Ledger is privately held and its stock does not trade on a public exchange.
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