Ledger Suspends Southeast Asian Sales Through Distributor Amid Wallet Theft Investigation
Ledger stated that the thefts reported on October 9 involved units sold through CryptoBilis, its approved distributor in Southeast Asia. The company said its own sales channels and internal systems were not affected and declined to specify how many wallets were compromised. CryptoBilis has stopped selling hardware wallets while the investigation continues, and outside researchers put possible losses above $86 million, a figure not officially confirmed.
Ledger, a French maker of secure crypto storage devices, said the thefts first reported on October 9 traced to wallets bought via CryptoBilis, its approved distributor for Southeast Asia. The company said its own sales and internal systems were unaffected, but it would not say how many devices were compromised.
CryptoBilis has paused hardware wallet sales pending further instruction. Investigators are examining whether an unauthorized component or physical modification affected some units before delivery, while outside researchers place possible losses above $86 million—a figure that has not been officially verified.
The episode may heighten caution among crypto holders who rely on hardware wallets, especially buyers in Southeast Asia using third-party distributors. If tampering occurred before delivery, it could weaken confidence in resale and distribution channels, prompting users to verify devices and buy directly. Manufacturers and resellers may face pressure to strengthen chain-of-custody checks, though the reported losses remain unverified and the incident’s broader scale is unclear.