#LedgerPausesCryptoBilisSales
Ledger Pauses CryptoBilis Sales Amid $86M Crypto Loss Reports
Ledger has reportedly paused sales and deliveries through CryptoBilis, a reseller serving customers in Southeast Asia, following reports of cryptocurrency theft.
On-chain investigator Specter estimates that the losses could exceed $86 million across Ethereum, Tron, and Bitcoin. However, this figure has not been independently confirmed by Ledger, and the cause of the incidents remains unclear.
The investigation raises concerns about hardware wallet supply chains and the risk of compromised recovery phrases. A hardware wallet can protect private keys, but it cannot protect funds if the recovery phrase has already been exposed.
For now, the key question is whether the reported losses are linked to the reseller’s distribution process or another security issue. The incident does not establish that all Ledger devices are vulnerable, but it highlights why users should verify their devices and never share their recovery phrases.
#Ledger #CryptoSecurity #Bitcoin
$MAGIC $MINA $BTC
Ledger Pauses CryptoBilis Sales Amid $86M Crypto Loss Reports
Ledger has reportedly paused sales and deliveries through CryptoBilis, a reseller serving customers in Southeast Asia, following reports of cryptocurrency theft.
On-chain investigator Specter estimates that the losses could exceed $86 million across Ethereum, Tron, and Bitcoin. However, this figure has not been independently confirmed by Ledger, and the cause of the incidents remains unclear.
The investigation raises concerns about hardware wallet supply chains and the risk of compromised recovery phrases. A hardware wallet can protect private keys, but it cannot protect funds if the recovery phrase has already been exposed.
For now, the key question is whether the reported losses are linked to the reseller’s distribution process or another security issue. The incident does not establish that all Ledger devices are vulnerable, but it highlights why users should verify their devices and never share their recovery phrases.
#Ledger #CryptoSecurity #Bitcoin
$MAGIC $MINA $BTC