Bitcoin News said corporate records show that Jiaming, a Chinese national, held 100% of Malaysian hardware wallet distributor CryptoBilis as of August 3. According to NS3.AI, CryptoBilis's former co-founder confirmed that the acquisition was completed in March.

The ownership information surfaced during an investigation into a suspected supply chain attack on Ledger hardware wallets. There is currently no conclusive evidence linking the ownership change to the compromised wallets.