CoinTelegraph
Ledger is investigating reports of fund losses tied to Southeast Asian reseller CryptoBilis. The company warns users who bought devices from the reseller in the past 90 days not to set them up.
Why it matters
Hardware wallets are designed to keep users' private keys under their control. Reports involving a reseller raise a supply-chain concern, but Ledger has not established in the stated warning how the reported losses occurred.
Market impact
The immediate guidance is specific: recent CryptoBilis buyers should not initialize their devices. The investigation may clarify the connection between the reseller and the reported losses; for now, the warning does not establish that all devices sold through the reseller or Ledger products generally are affected.
Frequently asked questions
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What is Ledger investigating?
Ledger is investigating reports of fund losses tied to Southeast Asian reseller CryptoBilis.
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Which CryptoBilis customers received a warning?
Users who bought devices from CryptoBilis in the past 90 days are being told not to set them up.
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What should recent CryptoBilis buyers do with their devices?
Ledger's stated guidance is not to set up devices bought from CryptoBilis in the past 90 days.
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Has Ledger established how the reported losses occurred?
The warning does not establish how the reported losses occurred. Ledger is investigating.
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Does the warning say all Ledger devices are affected?
No. The warning is directed at recent buyers from CryptoBilis and does not establish that all Ledger products are affected.
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