Ledger is currently investigating reports of cryptocurrency theft totaling $86 million from devices sold through a reseller in Southeast Asia. The company has not yet confirmed the total amount of losses or the specific method used to compromise the wallets.
The issue was initially highlighted by a blockchain researcher known as Specter, who tracked suspicious activity across the Bitcoin, Ethereum, and Tron networks. Reports of missing funds emerged from users on platforms like X and Reddit.
Ledger has requested that the reseller, CryptoBilis, suspend all sales and shipments during the investigation. Customers who purchased devices from this reseller within the last 90 days are advised not to set them up.
Users who have already activated their devices are urged to transfer their assets to a new Ledger wallet with a newly generated recovery phrase. The company notes that there is no evidence of a compromise to its core systems or technology.
Industry experts suggest the incident may involve a supply chain attack, where devices are tampered with before reaching the end user. This could allow attackers to pre-configure recovery phrases to gain future access to funds.
