Ledger Thief Moved $93 Million: Tether Froze $10 Million,…
By Karthik Subramanian
AI summary of the source article
An investigation traced approximately $93.2 million stolen from 315 Ledger wallet users across six blockchains following device tampering via a reseller. While Tether froze $10 million in USDT, the attacker moved other funds through mixers and non-freezable stablecoins.
Why it matters
The case highlights both the effectiveness and limitations of stablecoin freezing. Although Tether restricted $10 million, the remaining assets demonstrate how attackers can complicate recovery through cross-chain transfers, intermediary services and assets outside individual issuers' control.
Key facts
- Bitquery traced an estimated $93.2 million stolen across six blockchains from wallets linked to devices purchased through Ledger reseller CryptoBilis.
- Ledger confirmed finding an unauthorized hardware implant in an affected device and requested CryptoBilis suspend sales and shipments.
- Tether froze roughly $10 million in USDT across 20 wallets, but the attacker converted 14.7 million USDT into USDD and moved funds through Tornado Cash.
Source excerpt · FinanceFeeds
An investigation into cryptocurrency thefts affecting Ledger hardware wallet users has traced approximately $93.2 million across six blockchains, revealing how the suspected attacker moved assets through stablecoins, cryptocurrency mixers and exchange services while issuers attempted to restrict transfers. According to blockchain analytics firm Bitquery's October 11 investigation, the theft affect…