Following the case where police from Division 4, Economic Crime Suppression Division, detained Nana Raibina under an arrest warrant for fraud involving losses over 195 million baht at her residence in the Phra Khanong area, and seized assets worth approximately 10 million baht on 3 December, including brand-name bags, jewelry, cars, and art collections, authorities uncovered several items.
Among the seized items was a Ledger Nano X hardware wallet, an equipment many believe to be the most discreet crypto wallet, supposedly impossible for anyone else to access. However, in reality, Ledger is not a digital money safe but rather a "safe for storing keys" used to unlock another layer of safekeeping on blockchain systems.
Among crypto investors, securing assets safely requires knowledge of hardware wallets."Ledger" or Ledger is a leading brand in offline private key storage devices and security solutions for digital asset holders. It is regarded as a top industry leader and is one of the first names global crypto enthusiasts think of when discussing crypto security.
Technically, a ledger refers to a blockchain transaction recording system that maintains decentralized, immutable records. Networks like Bitcoin and Ethereum function as public ledgers that allow anyone to verify transactions without knowing the wallet owner’s identity.
The Ledger Hardware Wallet familiar to many resembles a USB device and stores users’ private keys offline, reducing risks of hacking or malware. It is suitable for long-term investors or those holding large amounts of assets.
Many high-net-worth investors store assets such as BTC, ETH, and stablecoins in offline hardware wallets, keeping their keys on Ledger devices for maximum security. However, cryptocurrencies are not stored directly on the device; it only stores the "keys" that prove ownership of crypto on the blockchain. To clarify, Ledger does not store money but holds the "key box" to the actual safe.
Therefore, if a Ledger device is lost, the coins stored on the blockchain remain safe. Recovery of the Ledger requires a backup key called a Seed Phrase, comprising 12 to 24 numbers and words, which acts as the master code to open the device from elsewhere to conduct transactions.
Beyond hardware, Ledger has developed the Ledger Live application, a centralized platform for managing crypto and digital assets. It enables users to buy, sell, receive, exchange, and monitor portfolio value in one place. All data is encrypted and directly connected to the Ledger device, enhancing security compared to third-party apps.
Currently, Ledger has over 6 million users, protecting more than 20% of the world's crypto asset value with its devices. Since its founding in 2014, more than 8 million devices have been sold across 165 countries. The brand continually releases new models such as Ledger Nano S Plus, Ledger Nano X, Ledger Flex, and Ledger Stax, each with distinct features.
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