Ledger Investigates Crypto Losses Linked to Southeast Asian…
By Abdelaziz Fathi
AI summary of the source article
Hardware wallet maker Ledger has requested authorized Southeast Asian reseller CryptoBilis to halt sales and shipments during an investigation into reported cryptocurrency losses. Onchain researchers estimate suspected losses could surpass $86 million across Bitcoin, Ethereum, and Tron, although Ledger has not confirmed these estimates, customer numbers, or the attack vector. Ledger advised customers who bought devices from CryptoBilis within the last 90 days not to initialize them or to migrate assets to a new signer with a new recovery phrase. Ledger stated its own infrastructure, systems, and services were not compromised, indicating the issue appears isolated to the reseller and affected market.
Why it matters
The investigation highlights supply-chain risks for hardware wallets, as the potential compromise involves an authorized distributor rather than an unofficial third-party seller.
Key facts
- Ledger asked authorized reseller CryptoBilis to suspend sales and shipments across Southeast Asia amid an active investigation.
- Onchain researchers tanuki42 and Specter estimate potential losses exceed $86 million across Bitcoin, Ethereum, and Tron.
- Ledger affirmed that its internal infrastructure, systems, and services were not compromised.