Crypto Evening Brief | October 10
1. This scandal keeps getting bigger. CryptoBillis, the reseller accused of selling hardware wallets implanted with spy chips, was reportedly transferred to a Chinese man named JIA MING in the first half of the year. His location is listed as Wuchang, Heilongjiang.
The same batch of devices was found to contain LTE, eSIMs, and antennas when taken apart. They could capture and transmit screenshots while recovery phrases were displayed, and the private key $BTC $ETH was taken directly by someone.
2. The losses keep mounting. More than $86 million is now estimated to have been stolen, involving hundreds of wallets. Many users are still activating and funding devices with implanted chips.
Ledger has acknowledged that devices sold by the reseller may have been tampered with, and advised users to move their funds to new devices and replace their recovery phrases.
3. A trader bought a new Ledger, only to lose $6.6 million in $BTC .
4. Institutions are heading for the exits. This week, ETFs sold $681 million worth of $BTC and $542 million worth of $ETH —a substantial outflow.
5. Whales are cutting their losses. SkyAI, which holds more than 2 million $SOL , transferred 568,000 SOL—worth about $63.87 million—to exchanges over three days.
They bought in at an average price of around $194, so selling at these levels would mean a loss of about $46 million.
6. On the order book, once $BTC gets above 83K, there are no major sell walls before 86,500.
The supply-chain risks around hardware wallets have yet to be fully uncovered. For now, let’s see how many more devices are still being activated.
1. This scandal keeps getting bigger. CryptoBillis, the reseller accused of selling hardware wallets implanted with spy chips, was reportedly transferred to a Chinese man named JIA MING in the first half of the year. His location is listed as Wuchang, Heilongjiang.
The same batch of devices was found to contain LTE, eSIMs, and antennas when taken apart. They could capture and transmit screenshots while recovery phrases were displayed, and the private key $BTC $ETH was taken directly by someone.
2. The losses keep mounting. More than $86 million is now estimated to have been stolen, involving hundreds of wallets. Many users are still activating and funding devices with implanted chips.
Ledger has acknowledged that devices sold by the reseller may have been tampered with, and advised users to move their funds to new devices and replace their recovery phrases.
3. A trader bought a new Ledger, only to lose $6.6 million in $BTC .
4. Institutions are heading for the exits. This week, ETFs sold $681 million worth of $BTC and $542 million worth of $ETH —a substantial outflow.
5. Whales are cutting their losses. SkyAI, which holds more than 2 million $SOL , transferred 568,000 SOL—worth about $63.87 million—to exchanges over three days.
They bought in at an average price of around $194, so selling at these levels would mean a loss of about $46 million.
6. On the order book, once $BTC gets above 83K, there are no major sell walls before 86,500.
The supply-chain risks around hardware wallets have yet to be fully uncovered. For now, let’s see how many more devices are still being activated.