Ledger Warns CryptoBilis Buyers Amid Crypto Loss Reports
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Written by Nate Kostar, staff writer
Edited by Sam Bourgi, staff writer
Ledger investigates fund losses linked to Southeast Asian reseller, warns users
Latest News
Published: Oct 9, 2026
Hardware wallet maker Ledger probes losses tied to reseller CryptoBilis, as researchers separately estimate more than $72 million to $86 million in suspected crypto thefts.
Ledger, a hardware wallet manufacturer, is investigating reports of cryptocurrency losses involving devices purchased from a Southeast Asian reseller named CryptoBilis. The company has warned affected customers to consider moving their assets to new wallets while the investigation continues.
In a statement on X, Ledger requested CryptoBilis to suspend sales and shipments as a precaution. Customers who bought devices from the reseller in the past 90 days were advised not to set them up, while those who already did were encouraged to transfer their assets to a new Ledger signer with a newly generated recovery phrase.
CryptoBilis is listed as an authorized Ledger reseller in Indonesia, Malaysia, and the Philippines.
Source:
- Ledger Support
Ledger has not disclosed the number of affected customers or the value of reported losses. They also have not identified the cause of the incidents or confirmed if the devices were compromised.
Separately, onchain researchers identified eight wallet addresses allegedly linked to more than $72 million in losses across various blockchains. Tanuki42 initially reported these findings, while Specter estimated losses exceeding $86 million in Bitcoin, Ethereum, and Tron.
Ledger has not confirmed either estimate, and the connection between these incidents and the CryptoBilis investigation remains unclear.
Source:
- Specter
- Security Alliance (SEAL)
The Security Alliance (SEAL) amplified tanuki42’s findings on X, urging anyone with funds transferred to the identified addresses to contact their incident-response team.
In a statement to Cointelegraph, Ledger emphasized that the incident appeared to be isolated to CryptoBilis and its affected market, adding that they had received no reports of issues with devices purchased directly from the company. They further stated:
“Ledger’s infrastructure, systems, and services were not compromised.”
Onchain researcher tanuki42 later clarified to Cointelegraph:
"Not with certainty, but I’m not aware of a victim report which does not involve this reseller. There are enough victim reports now to be confident that this is not coincidence."
CZ calls for recovery efforts as suspected Ledger thefts investigated
On Friday, Onchain Lens reported that wallets allegedly linked to the suspected thefts transferred approximately $270,000 in USDT and TRX to Binance. Most of the funds were subsequently moved to a Binance hot wallet.
Binance co-founder Changpeng Zhao (CZ) commented on the incident, suggesting the possibility of counterfeit or tampered Ledger devices in a supply-chain attack:
“I expect and know all BNB ecosystem players (and all industry) to help trace and recover the funds.”