Ledger Investigates Fund Losses After Users Buy Devices From CryptoBilis Reseller

CryptoBilis reseller — Hardware wallet maker Ledger is investigating reports of lost funds from users in Southeast Asia who purchased devices from a specific reseller, CryptoBilis.

The company advised customers who bought from the Kuala Lumpur-based vendor within the last 90 days not to set up their devices and to consider moving assets to a new Ledger signer with a fresh seed phrase. Ledger stated the incident appears isolated to this reseller and market, confirming its own infrastructure was not compromised.

While Ledger did not disclose a loss amount, a blockchain investigator using the handle Specter posted on X that over $86 million had been traced to theft addresses linked to the reports. Ledger has requested CryptoBilis pause all sales and shipments of its products.

The warning follows several high-profile security incidents in the hardware wallet sector this year, including a $120 million exploit of Coldcard devices in July due to a firmware bug and a data leak affecting nearly 81,000 Trezor customers last month.