The victim, identified in court documents only as T.M., received an unsolicited letter at their home address in September 2025. The letter appeared to come from Ledger Security and Compliance and instructed the recipient to complete a mandatory security review of their Ledger hardware wallet.
The incident, Drift said, was a 'highly sophisticated operation' involving 'the use of durable nonce accounts to pre-sign transactions that delayed execution' and the compromise of multisig signers' approvals.
The proposed rule establishes broad principles to guide the determination of whether state-level stablecoin regulatory regimes are 'substantially similar' to the federal framework, allowing smaller issuers to remain under state supervision.
