Ledger Warns Buyers Not to Set Up Wallets From Reseller After Users Report Losses

AI summary of the source article

Hardware wallet manufacturer Ledger is investigating the loss of user funds after customers in South East Asia reported issues with devices purchased from reseller CryptoBilis. Ledger urged anyone who bought devices from the Kuala Lumpur-based vendor within the past 90 days to avoid setting them up and asked CryptoBilis to halt sales and shipments. While Ledger did not disclose the total stolen, blockchain investigator Specter reported tracking theft addresses totaling more than $86 million. Ledger stated that the issue is isolated to this specific reseller and market, confirming that its own systems, infrastructure, and direct sales were not compromised.

Why it matters

Supply chain and reseller vulnerabilities pose critical security risks for crypto self-custody providers and their end users.

Key facts

• Ledger advised customers who bought devices from reseller CryptoBilis in the past 90 days not to set them up.
• Blockchain investigator Specter reported tracing theft addresses with more than $86 million in lost funds.
• Ledger stated its infrastructure, systems, and direct sales were not compromised, calling the issue isolated to the reseller.