Key facts
- Ledger is investigating cryptocurrency losses linked to devices bought from reseller CryptoBilis.
Hardware wallet manufacturer Ledger is investigating reports of users losing funds after setting up devices purchased from resellers. The company advises customers to only purchase directly from Ledger to ensure device integrity.
Users of hardware wallets face significant risks if devices are compromised before setup, potentially leading to the loss of all stored cryptocurrency. This incident highlights the importance of purchasing hardware wallets directly from manufacturers to ensure device integrity and security.
Hardware wallet maker Ledger is investigating reports of cryptocurrency losses involving devices purchased from a Southeast Asian reseller, CryptoBilis. The company has warned affected customers to consider moving their assets to new wallets while the investigation continues. Ledger has requested CryptoBilis to suspend sales and shipments of its devices as a precaution. Customers who purchased devices from the reseller within the past 90 days are advised not to set them up, and those who already have are recommended to transfer their assets to a new Ledger signer with a newly generated recovery phrase.
Onchain researchers have separately reported suspected cryptocurrency thefts totaling over $86 million across Bitcoin, Ethereum, and Tron blockchains. Ledger has not confirmed these estimates or established a direct link to the CryptoBilis investigation, but stated that its own infrastructure, systems, and services were not compromised. The company believes the incident is isolated to the reseller and the affected market.
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