Ledger investigating $100M in losses from Southeast Asian users who purchased cold wallets from unauthorized reseller CryptoBillis.
Security & Exploits ·
Ledger is investigating reports of fund losses affecting users in Southeast Asia who obtained Ledger devices from an unauthorized reseller called CryptoBillis, with total losses reportedly approaching $100 million. As part of its response, Ledger has requested that CryptoBillis halt all sales and shipments of Ledger devices while the investigation proceeds.
The company has advised users who purchased from this reseller within the past 90 days to avoid setting up their devices if they have not already done so. For those who have completed setup, Ledger recommends moving assets to a new Ledger signer using a fresh recovery seed phrase. The exact mechanism by which funds were compromised—whether through device tampering, supply chain interception, or another method—has not been disclosed in available statements.
Ledger said it will provide further updates as the investigation develops, and directed affected users to contact official Ledger support channels. The scope of the compromise, the timeline of CryptoBillis's operations, and whether other resellers may be implicated remain unclear.