Hardware wallet maker Ledger announced on October 9 that it is investigating reports of funds stolen from devices sold by its authorized Southeast Asian reseller CryptoBilis, which operates in Indonesia, Malaysia, and the Philippines. On-chain researchers Specter and tanuki42 separately estimated that addresses involved transferred more than $72 million to around $86 million across chains including $BTC , $ETH , and TRON. Ledger has not confirmed the total losses or their cause.

As a precaution, Ledger has asked CryptoBilis to suspend sales and shipments, and advised users who bought a device from the reseller in the past 90 days but have not yet activated it not to initialize it for now. Those who have activated their devices should consider transferring their assets to a new device and generating a new recovery phrase. Ledger said its factory production lines, firmware, and Ledger Live were not compromised. Binance co-founder Changpeng Zhao commented that the information available so far points more to a supply-chain attack at a single reseller, and advised keeping a new wallet idle for about two weeks before transferring in large amounts, allowing on-chain monitoring to detect any irregularities first.

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