Forbes traces the root cause to a March 2021 firmware build where the device stopped using strong randomness and followed a predictable pattern.
Once the shortcut was understood, attackers reproduced it on their own computers, guessed candidate seeds, and checked which unlocked real wallets.
Because the search space was so reduced, some wallets were swept in a matter of minutes once a vulnerable seed was found.
A key is only as safe as the randomness behind it. Strong entropy is the assumption Bitcoin security rests on, and here it failed.
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