Blockchain analytics firms trace up to $93.2 million in crypto stolen from wallets tied to Ledger devices sold by the reseller CryptoBilis. Tether has frozen $10 million in USDT, while Ledger says confirmed cases involve only that reseller and critics push back.
Attackers siphoned as much as $93.2 million from wallets linked to Ledger devices sold by CryptoBilis, according to several blockchain analytics and intelligence firms. Tether froze $10 million in USDT tied to the theft, and investigations are still underway.
Estimates differ across trackers
Bitquery said it traced $93.2 million, taken mostly in USDT and TRON tokens from 315 wallets across six blockchains. YFarmX reported a higher figure of $94.5 million from 521 addresses across seven blockchains. Both estimates rest on public blockchain data, not a confirmed Ledger loss total.
The Defiant reported that Tether froze about $10 million in USDT across 20 TRON addresses, according to Bitquery. The tokens are immobilized, not returned to victims. Bitquery also said about $81 million could still be traced onchain as of Oct. 11, while some funds moved through Tornado Cash and Zcash.
Ledger confirms a hardware implant
Ledger confirmed an unauthorized hardware implant in at least one affected device. The company did not say whether the stolen wallet was compromised the same way or how the devices were tampered with.
Ledger said all confirmed cases involve devices sold through the Southeast Asian reseller. According to Ledger: "The volume of impacted devices is limited," it said. Critics object because the reseller was listed as authorized on Ledger's website.
What affected buyers should do
Ledger advised CryptoBilis customers not to set up unused devices. Those already using a hardware wallet from the reseller should move assets to a new device with a newly generated recovery phrase.
Ledger's Oct. 11 update set out no compensation plan or distribution timetable for buyers.
Sources: CoinDesk, The Defiant
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