Hardware wallet maker Ledger is investigating reports of cryptocurrency losses linked to devices purchased from CryptoBilis, an authorized reseller operating in Indonesia, Malaysia, and the Philippines.
In response, Ledger asked CryptoBilis to suspend sales and shipments of its devices as a precaution. The company advised customers who purchased devices from the reseller within the past 90 days not to set them up. Those who had already activated devices from CryptoBilis were advised to consider transferring their assets to a new Ledger signer with a newly generated recovery phrase.
Ledger has not disclosed the number of affected customers or the total value of reported losses. The company has also not identified the cause of the incidents or confirmed whether the devices were compromised.
Onchain researchers have identified suspected cryptocurrency thefts involving multiple blockchain addresses. Researcher tanuki42 identified eight wallet addresses allegedly linked to more than $72 million in losses, while investigator Specter estimated losses exceeding $86 million across Bitcoin, Ethereum, and Tron. Ledger has not confirmed either estimate, and the connection between these findings and the CryptoBilis investigation remains unclear.
Crypto security organization Security Alliance (SEAL) amplified the research findings and urged anyone whose funds were transferred to the identified addresses to contact its incident-response team.
Ledger stated that the incident appeared isolated to the reseller and affected market, noting that it had received no reports involving devices purchased directly from the company. The company affirmed that its infrastructure, systems, and services were not compromised and that its investigation remains ongoing.
