Ledger Investigates $93M Wallet Losses Linked to CryptoBilis Reseller
Ledger has asked Southeast Asian reseller CryptoBilis to stop selling and shipping devices while it investigates wallet losses estimated at $92.9 million across 311 wallets. The losses span Bitcoin, Ethereum, TRON, BNB Chain, and Polygon, with evidence pointing to an incident isolated to CryptoBilis rather than Ledger’s core infrastructure. Ledger issued precautions for customers who bought devices through CryptoBilis in the previous 90 days.
Ledger’s probe centers on CryptoBilis, described by U.Today as an official distributor in Indonesia, Malaysia, and the Philippines. Bitquery’s $92.9 million figure covers 311 wallets across Bitcoin, Ethereum, TRON, BNB Chain, and Polygon; earlier estimates ranged from above $72 million to over $86 million.
Investigators observed minor trial transactions for about two weeks before larger coordinated withdrawals, plus wallets approving similar requests within seconds. Ledger said no compromise was found in its own infrastructure and no reports involved devices bought directly from it. Changpeng Zhao characterized it as a vendor-specific supply-chain problem, while Mark Karpelès described a Nano X from Malaysia containing a hidden electronic module.
Hardware-wallet buyers, especially in Southeast Asia, may face heightened caution about reseller supply chains. If tampering is confirmed, trust in third-party distribution could weaken, prompting users to verify devices and move funds. Losses could affect individuals and small businesses holding crypto, while exchanges and investigators may face pressure to trace assets. The episode may also encourage stronger retail-channel checks, though it does not necessarily imply broader hardware wallet insecurity.