What should I do if my Ledger device is lost or stolen?

If a Ledger device is lost or stolen, it is important to act promptly to protect your cryptocurrencies and any sensitive information stored on it. First, users should understand that the private keys associated with their cryptocurrency accounts do not reside on the device itself; rather, they can be accessed only with the recovery phrase that was generated during the initial setup of the device. It is vital to keep this recovery phrase secure and private, as it grants full control over the associated accounts. The next step is to ensure that any accounts associated with the lost or stolen device are secure. If the recovery phrase is in possession of someone else, it is advisable to transfer any remaining assets to a new wallet by creating a new Ledger device or another secure wallet solution. If the recovery phrase is safe, users can set up a new Ledger device and restore their wallet using the recovery phrase, giving them full control over their assets once again. For further information or assistance, it may be useful to check the current Ledger web page, which may provide detailed guidelines or resources on handling such situations effectively.