Ledger Links Confirmed Wallet Theft Cases to CryptoBilis

Ledger said all confirmed cases in a cryptocurrency theft incident involved hardware wallets sold through Southeast Asian reseller CryptoBilis, and that investigators found a hardware implant inside one affected device. The company has not confirmed how many users were affected or the total value lost, and said it is continuing its investigation. In an October 13 update, Ledger described the implant as a separate component inside the device. The company said it could read the 24-word recovery phrase displayed during setup and transmit it over LTE. Ledger said the component did not modify the device’s Secure Element, operating system, transactions or signatures. Ledger has not confirmed that the implant caused every reported theft. Investigators have published estimates exceeding $86 million, while Bitquery estimated that $93.2 million was taken from 315 wallets across five blockchain networks. Those figures are investigative estimates, not a loss total confirmed by Ledger. The company said the volume of impacted devices was limited and that its direct sales channels and internal systems were unaffected.