#ledgerpausescryptobilissales
A hardware wallet is supposed to be the safest place for your crypto. So why is Ledger telling some buyers not to turn their devices on? 🔍
Ledger has asked CryptoBilis, an authorized reseller in Indonesia, Malaysia and the Philippines, to pause all sales and shipments while it investigates reports of customer fund losses.
What’s known so far:
Ledger advised anyone who bought from the reseller in the past 90 days not to set up unused devices. Those already set up were told to consider moving assets to a new signer with a new recovery seed. On-chain analysts estimate losses between roughly $72 million and $86 million across Bitcoin, Ethereum and Tron. These figures are unconfirmed, and Ledger hasn’t endorsed them. Ledger says reports appear limited to this reseller, with no indication its own systems were compromised and no reports involving devices bought directly. The cause remains unclear. Some researchers have raised the possibility of hardware tampering, but that is unverified.
Why it matters: Hardware wallets rely on trust that extends beyond the device to the supply chain. If a reseller channel is implicated, it highlights how security can be affected before a device ever reaches the user. Sentiment around self-custody may also be tested.
Meanwhile, following Ledger’s official updates is the cautious path.
Will investigations like this push users toward buying direct, or is supply-chain risk simply part of self-custody?
$MAGIC $LUMIA $ERA
A hardware wallet is supposed to be the safest place for your crypto. So why is Ledger telling some buyers not to turn their devices on? 🔍
Ledger has asked CryptoBilis, an authorized reseller in Indonesia, Malaysia and the Philippines, to pause all sales and shipments while it investigates reports of customer fund losses.
What’s known so far:
Ledger advised anyone who bought from the reseller in the past 90 days not to set up unused devices. Those already set up were told to consider moving assets to a new signer with a new recovery seed. On-chain analysts estimate losses between roughly $72 million and $86 million across Bitcoin, Ethereum and Tron. These figures are unconfirmed, and Ledger hasn’t endorsed them. Ledger says reports appear limited to this reseller, with no indication its own systems were compromised and no reports involving devices bought directly. The cause remains unclear. Some researchers have raised the possibility of hardware tampering, but that is unverified.
Why it matters: Hardware wallets rely on trust that extends beyond the device to the supply chain. If a reseller channel is implicated, it highlights how security can be affected before a device ever reaches the user. Sentiment around self-custody may also be tested.
Meanwhile, following Ledger’s official updates is the cautious path.
Will investigations like this push users toward buying direct, or is supply-chain risk simply part of self-custody?
$MAGIC $LUMIA $ERA