Ledger is supposed to mean security, yet a user has recently lost $1 million in bitcoins through a scam related to Ledger Live's integrated swap. With dubious partners, unclear responsibilities, and endless KYC procedures, this incident rekindles the debate on trust in third-party services.
The victim thought they were performing a simple BTC to USDT conversion through the familiar Ledger Live interface, without realizing they were entrusting their funds to an unscrupulous external service. The integrated swap function creates the illusion of a transaction secured by Ledger. In reality, it redirects to unvetted third-party partners.
Cripto InterCambio (CIC) initially accepted the 9.5 BTC transaction (valued at approximately $1 million), immediately triggering a KYC procedure that seemed routine. The user diligently provided all required identification documents, believing they were complying with standard regulatory obligations.
The request for proof of source of funds then arrived, a legitimate requirement that the user also satisfied by providing additional documentation. Everything appeared to be proceeding normally according to the usual procedures of regulated exchange platforms.
But the promised USDT never arrived. Worse still, CIC stopped responding to inquiries, leaving the user in a complete legal void with their 9.5 BTC permanently lost and no possible recourse.
Confronted with this dramatic situation, the user naturally turned to Ledger for help. They legitimately thought the French company would assume responsibility for this transaction conducted through its official interface.
Ledger’s response was unequivocal: since Cripto InterCambio is a “third-party partner,” the company categorically refuses to take any responsibility for this loss. This technical legal position completely ignores the user experience that suggests native integration.
This strategy of avoiding responsibility reveals a major flaw in the hardware wallet business model. By integrating external services to generate commission revenue, Ledger exposes its users to risks it refuses to assume.
The lack of due diligence on integrated partners becomes evident. How can Ledger offer services through its official interface without guaranteeing a minimum of security or recourse for its users?
This Cripto InterCambio case is unfortunately not isolated. Changelly, another major partner integrated into Ledger Live, SafePal, Exodus, and Trezor, faces similar accusations with millions of dollars frozen in KYC verifications that never conclude.
According to Decripto.org’s investigation, many users report transactions of 10 BTC, 1,000 ETH, or hundreds of thousands of USDT blocked for months. Changelly’s support offers only standardized responses: “we are investigating, please be patient,” without timelines or escalation possibilities.
The emblematic case from August 2025 involves a Ledger user who converted 5.4 million USDT via Changelly. The transaction remained blocked for months until an external company specializing in financial disputes intervened to recover the funds.
This exceptional success demonstrates that only legal or media pressure can unblock situations that otherwise risk continuing indefinitely. For the average user, these remedies remain inaccessible.
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