Hardware wallet manufacturer Ledger is investigating reports of fund losses among customers in South East Asia. The company identified that the affected users purchased their devices from a reseller named CryptoBilis, based in Kuala Lumpur, Malaysia.
Ledger has advised customers who bought devices from CryptoBilis within the last 90 days to avoid setting them up. The company has requested that the reseller pause all sales and shipments of its products while the investigation continues.
Users who have already configured their devices are encouraged to transfer their assets to a new Ledger signer using a new seed phrase. Ledger stated that its own infrastructure and systems remain secure and were not compromised during the incident.
While Ledger did not disclose the total amount of lost funds, blockchain investigator Specter reported on X that over $86 million had been lost. Ledger maintains that the incident is isolated to this specific reseller and market.
