🚨 The Ledger theft case takes another turn: CZ personally steps in to “check the records”
A quick update—early this morning (12:30 a.m. Beijing time), The Coin Republic reported that Changpeng Zhao (CZ) publicly questioned the confidentiality agreement behind the transfer of CryptoBilis’s ownership.
In other words: the NDA barred the former owners from speaking publicly until October 19, which is why nobody knew the company had changed hands.
Three newly uncovered details:
1️⃣ The distributor changed hands back in March: co-founders Arravind Prabu and Vimal Selvamany gave up control. As of August 3, the new owner, Jiaming, held 100% of the shares. This was a formal business transaction, not some street-corner operation.
2️⃣ Bitquery’s latest figures show that $93.2 million was stolen from 315 wallets across six chains (TRON, Bitcoin, Ethereum, BNB Chain, Polygon, and Solana). The figures are precise down to the decimal—painful to look at.
3️⃣ Ledger reiterated that it had confirmed a hardware implant was installed in just one device, that its own systems “were not breached,” and that the distributor involved has stopped selling the affected products.
To be fair to the former owners, the report acknowledges that, so far, there’s no evidence linking the NDA to the hardware implant. The confidentiality agreement only explains “why the change of ownership wasn’t disclosed earlier.”
But with CZ weighing in, this story clearly isn’t over—the NDA expires on October 19, and there may be an even bigger reveal in store.
What do you think we’ll learn once the NDA expires: “an inside job at the distributor” or “a much bigger chain of connections”? Let us know in the comments.
For informational purposes only; not investment advice.
A quick update—early this morning (12:30 a.m. Beijing time), The Coin Republic reported that Changpeng Zhao (CZ) publicly questioned the confidentiality agreement behind the transfer of CryptoBilis’s ownership.
In other words: the NDA barred the former owners from speaking publicly until October 19, which is why nobody knew the company had changed hands.
Three newly uncovered details:
1️⃣ The distributor changed hands back in March: co-founders Arravind Prabu and Vimal Selvamany gave up control. As of August 3, the new owner, Jiaming, held 100% of the shares. This was a formal business transaction, not some street-corner operation.
2️⃣ Bitquery’s latest figures show that $93.2 million was stolen from 315 wallets across six chains (TRON, Bitcoin, Ethereum, BNB Chain, Polygon, and Solana). The figures are precise down to the decimal—painful to look at.
3️⃣ Ledger reiterated that it had confirmed a hardware implant was installed in just one device, that its own systems “were not breached,” and that the distributor involved has stopped selling the affected products.
To be fair to the former owners, the report acknowledges that, so far, there’s no evidence linking the NDA to the hardware implant. The confidentiality agreement only explains “why the change of ownership wasn’t disclosed earlier.”
But with CZ weighing in, this story clearly isn’t over—the NDA expires on October 19, and there may be an even bigger reveal in store.
What do you think we’ll learn once the NDA expires: “an inside job at the distributor” or “a much bigger chain of connections”? Let us know in the comments.
For informational purposes only; not investment advice.