Ledger has officially requested that the Southeast Asian reseller CryptoBilis suspend all sales and shipments of its hardware wallets. This decision follows reports of users losing funds after purchasing devices from the retailer. The company has advised customers who bought products from this specific shop within the last 90 days to refrain from setting them up.
For users who have already initialized their devices, Ledger recommends transferring all assets to a new wallet with a fresh seed phrase. The company has not yet confirmed whether any devices were tampered with or if the reported losses are accurate. Ledger stated that it will provide further updates as the internal investigation into the matter continues.
The suspension was announced shortly after an analyst named Specter estimated that total losses could exceed $86 million. The analyst claims to have traced funds from hundreds of wallets across Ethereum, TRON, and Bitcoin networks. Public blockchain data indicates that three specific Bitcoin addresses linked to the incident currently hold approximately 211 BTC.
This incident follows a history of security concerns involving hardware wallets. In April, researchers identified counterfeit Ledger units on a Chinese marketplace that compromised user seed phrases. Additionally, in August, a firmware vulnerability in the rival Coldcard wallet resulted in losses estimated at approximately $70 million for Bitcoin holders.
