Key facts
- Ledger is investigating reports of stolen funds from users in Southeast Asia who purchased devices through reseller CryptoBilis.
- Ledger has asked CryptoBilis to pause all sales and shipments of its devices.
- On-chain researchers estimate total losses from the suspected thefts to be between $72 million and $87 million.
- Ledger stated its own systems and direct sales channels were not compromised.
- The company advised customers who bought from CryptoBilis within the past 90 days not to set up their devices.
Ledger is investigating reports of stolen funds from users in Southeast Asia who purchased devices through the reseller CryptoBilis, leading the company to halt sales and shipments from the reseller. On-chain researchers have mapped hundreds of victim wallets across Ethereum, Tron, and Bitcoin, with estimated losses ranging from $72 million to over $87 million.
Ledger stated that its own systems, infrastructure, and services were not compromised, and that no reports involved devices purchased directly from the company. The incident is believed to be isolated to the reseller and its market, potentially involving tampered devices. Binance co-founder Changpeng Zhao suggested that a small number of people may have bought fake or tampered Ledger devices.
As a precaution, Ledger advised customers who bought devices from CryptoBilis within the past 90 days not to set up their devices. Those who already have are advised to move their assets to a new Ledger device with a newly generated recovery phrase. CryptoBilis is listed as an authorized Ledger reseller in Indonesia, Malaysia, and the Philippines.