Ledger Probes Reported Crypto Losses Tied to CryptoBilis

Ledger is investigating reports that customers in Southeast Asia lost cryptocurrency after buying hardware wallets through reseller CryptoBilis, and has asked the reseller to stop sales and shipments while the inquiry continues. The company has not confirmed the reported losses, their cause or whether all the incidents are connected to the reseller. Ledger advised customers who bought devices from CryptoBilis in the previous 90 days not to begin setting them up. Customers who already activated a device were advised to consider moving their assets to a new Ledger signer with a fresh seed phrase. Ledger described the steps as precautionary while its investigation proceeds. Onchain investigator Specter said traced addresses received funds from hundreds of victim wallets across Ethereum, TRON and Bitcoin, and estimated losses at more than $86 million. Ledger has not verified that figure. The reporting also does not establish how many customers were affected or whether every reported theft is linked to CryptoBilis. The reported losses surfaced in accounts posted on social media by people who said their cryptocurrency had been drained.