Ledger investigates $86M wallet drain linked to reseller CryptoBilis

Hardware wallet manufacturer Ledger is investigating reports of significant fund losses from users in Southeast Asia who purchased its products through the reseller CryptoBilis, with estimated losses exceeding $86 million.

The company stated it is actively looking into the reports of wallet drains affecting customers who bought Ledger devices from the third-party reseller. The incidents appear to be concentrated among users in Southeast Asia.

While the exact cause of the compromise is under investigation, the incident highlights the risks associated with purchasing hardware wallets through unofficial or third-party channels. Ledger has not yet confirmed whether the issue stems from a supply-chain attack, tampered devices, or another vulnerability introduced via the reseller.

The estimated $86 million in losses represents one of the more substantial security incidents involving hardware wallets in recent years. Ledger has advised users to only purchase its products directly from the official Ledger website or authorized partners to ensure security.