Ledger Probes Crypto Losses Above $80 Million Tied to CryptoBilis

Ledger is investigating reported cryptocurrency losses exceeding $80 million linked to hardware wallets sold by Malaysian reseller CryptoBilis and has asked the reseller to suspend related sales and shipments.

The affected devices were purchased through CryptoBilis, while Ledger said no products bought through its official infrastructure or direct sales channels had been reported as affected. The precise cause of the losses has not been established.

Ledger advised customers who bought devices from CryptoBilis within the past 90 days not to set up unused wallets. Customers who already activated the devices and stored assets on them were advised to consider transferring those assets to another crypto wallet.

Binance founder CZ said the incident appeared to involve a supply-chain attack and that some customers may have received counterfeit or tampered Ledger devices. Ledger’s investigation remains ongoing.

The incident highlights a security risk for crypto users who buy hardware wallets through third-party distribution networks. Hardware wallets are designed to keep private keys offline, but compromised devices or supply chains can undermine that protection.