CoinDesk
Ledger is investigating reports that more than $86 million in crypto may have been stolen from hundreds of wallets linked to devices sold by Southeast Asian reseller CryptoBilis. The company has not confirmed the amount, how many users were affected or whether the reported thefts are connected. The claims involve Bitcoin, Ethereum and Tron addresses.
Why it matters
Ledger asked CryptoBilis to pause sales and shipments. It advised customers who bought devices from the reseller within the past 90 days not to set them up. Customers who already activated a wallet should consider moving assets to a new Ledger device with a newly generated recovery phrase.
One possible explanation is a supply-chain attack, in which a device is tampered with before reaching its buyer. A pre-generated recovery phrase known to an attacker could expose funds deposited later. Ledger has not confirmed device tampering or this scenario, which would be distinct from a breach of the company's own systems.
Market impact
The reported losses have not been independently verified, and it remains unclear whether the incidents share a cause. Ledger says its investigation is ongoing and it will provide updates.
The episode adds to a difficult year for crypto security. The source cites a Bitget exploit last month that resulted in more than $350 million in stolen assets, alongside incidents involving Liquid Network at about $320 million, Drift at $295 million and Kelp at $293 million. The Ledger reports remain unconfirmed, but the response underscores why buyers should treat device provenance and recovery-phrase security as critical safeguards.
Frequently asked questions
-
How much crypto is reportedly missing from wallets linked to CryptoBilis devices?
Reports cited by Ledger put potential losses above $86 million, but Ledger has not confirmed the amount or independently verified the reported losses.
-
What did Ledger advise recent CryptoBilis device buyers to do?
Ledger advised buyers who purchased devices from the reseller within the past 90 days not to begin setting them up.
-
What should customers do if they already activated a Ledger wallet?
Ledger said they should consider moving their assets to a new Ledger device with a newly generated recovery phrase.
-
How could a supply-chain attack put funds in a hardware wallet at risk?
A device could be tampered with before reaching the buyer. One possible scenario is a pre-generated recovery phrase known to an attacker, but Ledger has not confirmed this occurred.
-
Which crypto networks are named in the reported wallet thefts?
The reports involve addresses on Bitcoin, Ethereum and Tron. It remains unclear whether the reported thefts are connected.
WatcherGuru
TheBlock
WuBlockchain
CryptoSlate
CoinTelegraph
Crypto Rank News