Unauthorized hardware implants were discovered in Ledger wallets, with some blockchain investigators estimating losses exceeding $86 million. The incident has sparked debate over self-custody versus Bitcoin ETF security, with Plan B saying the decision to move BTC holdings into ETFs proved correct and expressing zero regrets. Ophelia Snyder noted large holders are shifting self-custodied assets into ETFs for greater security, while Adam Back said hardware wallets remain viable but vendors need stronger threat modeling, and Jameson Lopp warned against hasty migrations creating new centralization failure points.