Ledger Investigates $86 Million Crypto Theft Linked to Reseller

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Ledger, a major hardware wallet maker, is investigating reports of potential theft involving over $86 million in cryptocurrency.

What Happened

Users reported losing funds from hundreds of crypto wallets on social media platforms like X and Reddit.

The wallets are tied to devices sold through a Southeast Asian reseller named CryptoBilis.

Ledger has not confirmed the $86 million figure or verified a direct link between the thefts and its devices.

Ledger is investigating devices sold by CryptoBilis, a Southeast Asian reseller.
Funds were reportedly drained from Bitcoin, Ethereum, and Tron addresses.
No independent verification exists for the total losses or number of affected users.
Ledger advises users not to activate devices bought from CryptoBilis in the past 90 days.
Users who already activated wallets should move assets to a new Ledger device with a new recovery phrase.

Ledger devices store private keys offline, away from internet-connected systems.

This design protects against online attacks and is a key reason for their popularity.

If a device is tampered with before delivery—like having a pre-set recovery phrase—users could lose access to their funds.

Ledger has sold over 7 million devices globally, making it one of the most widely used hardware wallet brands.

A security flaw in its supply chain could affect many users and damage trust in crypto security tools.

While Ledger’s software and systems are not compromised, third-party reseller risks remain a serious concern.

There is no confirmed evidence that Ledger’s technology or software was breached.

It’s unclear if the thefts are connected or how many users were impacted.

A supply-chain attack is possible, but it hasn’t been proven in this case.

The $86 million figure comes from blockchain investigator Specter, who traced suspected theft addresses—without independent audit.

Ledger will share updates as the investigation continues.

Users should follow official guidance and monitor Ledger’s communications closely.

The incident may prompt wider scrutiny of crypto supply chain practices.

Source: Coindesk

AI-generated illustration.