Reports of Ledger hardware wallet theft have prompted an investigation into devices sold by CryptoBilis in Southeast Asia, with the manufacturer asking the reseller to suspend sales and shipments. Separately, onchain investigator Specter estimated losses of more than $86 million across hundreds of wallets.

According to Wu Blockchain, Ledger advised customers who purchased devices from CryptoBilis within the past 90 days not to initialize them. Customers who have already completed setup should consider transferring their assets to a new Ledger signer with a newly generated seed phrase.

The investigation and Specter’s estimate were reported on October 9, 2026. CoinDesk reported that the loss figure had not been independently confirmed. There is currently no evidence of a direct compromise of Ledger’s hardware wallets or core infrastructure.

Ledger hardware wallet theft reports point to suspected supply-chain attack

CZ described a single-vendor supply-chain attack as the apparent explanation, based on information available so far. He said a small number of users likely bought fake or tampered Ledger devices. That assessment is not a confirmed finding about how the funds were taken.

Specter’s investigation followed user reports on X and Reddit. The investigator traced suspicious addresses that received funds from hundreds of victim wallets on Ethereum, TRON and Bitcoin, putting estimated aggregate losses above $86 million.

Unchained, in a report carried by Yahoo, said Specter listed 10 addresses. Those addresses held more than $25 million at the last check, suggesting that most of the funds had already moved.

The Security Alliance asked people whose funds were drained to the listed addresses to contact it through the SEAL 911 Telegram bot. CZ added that the wider industry, along with those involved in the BNB ecosystem, would assist in tracking down and recovering the stolen funds.

Ledger said it would keep customers informed as its investigation progresses. Its request to CryptoBilis covers both sales and shipments of Ledger devices.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.