Ledger has asked reseller CryptoBilis to pause all sales and shipments while it investigates reports of lost funds among Southeast Asian customers. An onchain investigator separately traced over $86 million in suspected theft across multiple blockchains, though Ledger has not confirmed that figure relates to CryptoBilis buyers.
Hardware-wallet maker Ledger said on Oct. 9 it had asked reseller CryptoBilis to halt all sales and shipments of its devices while it investigates reports of lost funds among Southeast Asian customers. The guidance targets anyone who bought a device from CryptoBilis in the past 90 days.
Ledger's recovery guidance
Ledger told buyers who have not yet set up their devices to hold off. Those who have already done so should consider moving assets to a new Ledger signer with a new seed. The company called the sales pause a precaution pending its investigation and did not identify which device models were affected or explain how the funds were lost.
CryptoBilis appears in Ledger's official reseller directory for Malaysia and Indonesia. Ledger's standing purchasing guidance recommends buying directly from the company or through authorized resellers that source products through its official distribution chain. For buyers following that advice, generating a new seed is a critical step: Ledger's recovery documentation describes the recovery phrase as the "ultimate key to all your crypto accounts" and advises moving remaining assets to a wallet secured by a different phrase when compromise is suspected.
Loss estimates across chains
In an Oct. 9 post, onchain investigator Specter said he had traced inflows from hundreds of victim wallets into theft addresses across Ethereum, TRON and Bitcoin. He estimated total losses above $86 million. He later clarified that he had not yet determined the actual number of wallets involved.
Ledger's own statement did not provide a loss figure, nor did it establish that the full estimate involved CryptoBilis customers. The company directed affected buyers to its official support channels and repeated its standing warning that users should never enter their recovery phrase into a computer, phone, app or website.
Source: The Defiant
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