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I'm fairly sure the architecture is effectively the same thing in both, just with different marketing names. In the Gridplus you have: PC -> SCE -> Secure Enclave In the ledger you have PC -> App processor -> Secure Element In both, the rough way it works is that at rest your private keys are stored within the Secure Element or Secure Enclave. But to sign something you need the application processor to extract a key then do the signing. Because of the different amount of standards for signing, you need the ability to run different firmware ("apps") on the app processor in both cases. So in both cases it's possible for a firmware to leak the signing key by compromising this firmware. Both companies probably do some validation and signing of firmware so that users can't as easily get tricked to install dodgy firmware which helps a little with this but you are somewhat at the mercy of them. The real benefit a hw wallet gives in this case protection for your private key at rest and ensuring that you need to take manual action to sign transactions (entering pin, plugging in device). This whole thing is a bit overblown IMO, mostly because people don't really understand how these hardware wallets work. Ledger's communication has been pretty terrible though.
NY charges against kucoin is as stupid as SCE against ripple , both are going nowhere . Also , kucoin doesn’t even operate in NY , what is AG talking about ? It’s ridiculous!