Ledger is currently investigating a series of fund losses linked to the Southeast Asian reseller CryptoBilis. The company confirmed the probe on October 9, 2026, noting that the issue appears localized to this specific retailer, which operates in Indonesia, Malaysia, and the Philippines.
One user reported the loss of 80 BTC, valued at $5.2 million, one week after transferring funds to a Ledger device purchased from CryptoBilis. Another victim lost 7 million USDT three weeks after acquiring a device from the same source. On-chain analysts have identified $17.7 million in BTC and $29 million in ETH equivalents in wallets associated with these thefts.
Analysts estimate the total damages from these incidents to range between $72 million and over $87 million. While the exact cause remains unconfirmed, investigators are exploring the possibility of supply-chain tampering or phishing attacks targeting users of the reseller.
Ledger has issued urgent guidance for anyone who purchased a device from CryptoBilis within the last 90 days. The company advises these users not to initialize their devices and to move all assets to new Ledger wallets created with entirely different seed phrases.
