Ledger Investigates $86M Crypto Drain as Reseller Supply-Chain Fears Grow

The company has launched an investigation into potentially tens of millions of dollars in crypt theft linked to hardware wallet purchased through CryptoBilis. On-chain researchers estimate that somewhere between $72 million and $86 million may have been stolen, as Ledger begins investigating reports of these major crypto losses from users who bought hardware wallets from an authorized Southeast Asian reseller. The hardware wallet manufacturer said there is no indication that its own infrastructure, systems, or services were compromised. However, users are piling on X to complain about substantial losses. How Much Was Stolen? The official support channel of Ledger on X confirmed yesterday evening that it was investigating user reports from customers of CryptoBilis, which is listed as an authorized reseller in Indonesia, Malaysia, and the Philippines. Ledger asked CryptoBilis to pause all sales and shipments for the time being. More importantly, the post urged anyone who purchased a device from the reseller in the past 90 days and has not completed installation not to begin setup now. Customers already using such devices were advised to consider transferring their assets to a new Led...