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Global-e and Ledger Breach: Scope Uncertainty and Physical Risk Considerations

Jan 5, 2026 | Updated Jan 5, 2026 | 3 min read

Global-e Online Ltd has disclosed unauthorised access to part of its cloud environment used to process purchases made on Ledger’s website. The incident affects customers who purchased Ledger hardware wallets through Global-e’s checkout infrastructure in the past 12 months.

Global-e has stated that no payment card data, bank details, account credentials, or crypto wallet secrets were accessed. Ledger devices, software, and blockchain systems were not affected. Those points are not disputed.

What remains less clear is the scope and timing of the data access, and how affected customers were identified.

What data was exposed

According to Global-e’s notification, the accessed data includes customer and order information held by Global-e Online Ltd, including:

• Names

• Home or delivery addresses

• Email addresses

• Telephone numbers

• Order details confirming the purchase of a Ledger device

There was no exposure of recovery phrases, private keys, wallet balances, or payment information associated with products manufactured by Ledger.

Observations on affected customers

Through limited direct conversations with a small number of Ledger customers, we have noted that individuals who made purchases within the last twelve months report receiving breach notifications, while those who purchased earlier do not appear to have been contacted.

This is not a statistically meaningful sample and should not be treated as conclusive. However, it does raise reasonable questions about whether only certain datasets, storage environments, or time periods were affected.

The breach notification does not specify when unauthorised access began, how long it persisted, or how the affected population was determined. That lack of detail makes it difficult for customers to assess their own exposure with confidence.

Why this matters in the current threat environment

The exposed data links a real individual and a physical address to confirmed ownership of a Ledger hardware wallet.

In the current threat landscape, this creates risk beyond phishing. Physical coercion attacks, often referred to as wrench attacks, are increasingly reported within the crypto sector. These attacks rely on identifying individuals who may control digital assets and can be located offline.

This risk was not addressed in the breach notification, which focused primarily on online fraud. For individuals with a visible role in crypto, including founders, executives, developers, and investors, the potential impact is higher once identity and address information is available.

Why this is not a routine contact data breach

Most contact data breaches result in spam or low level impersonation attempts. This incident creates the conditions for more targeted activity.

The combination of name, address, and confirmed crypto hardware ownership can support:

• Credible impersonation using real order details

• Escalation from email to phone based social engineering

• Offline targeting using address information

• Physical coercion in a small but high impact subset of cases

The likelihood of such outcomes remains low, but the consequences are significant.

Sensible steps for affected individuals

No immediate action is required, but proportionate mitigation is sensible:

• Treat unsolicited Ledger or fulfillment related communications with caution and verify independently

• Do not disclose recovery phrases or custody arrangements

• Avoid using a home address for crypto related deliveries where possible

• Be cautious about public discussion of personal security and asset custody

• Review basic physical security and deterrence measures

These steps are about reducing exposure rather than responding to a known threat.

Closing view

This was not a breach of crypto assets or payment systems. It was a breach that connects identity, location, and crypto ownership, with unresolved questions about scope and timing.

For people operating in the crypto sector, acknowledging that uncertainty and adjusting risk posture calmly is the appropriate response.

Original article by the zeroShadow team