Ledger Wallet Losses Reach At Least $92.9M Across 311 Wallets

Suspected losses tied to Ledger hardware wallets sold through Southeast Asian reseller CryptoBilis have reached at least $92.9 million, intensifying scrutiny of a security incident spanning five blockchain networks.

The funds moved across Tron, Bitcoin (BTC), Ethereum, BNB Chain and Polygon, with activity continuing through Oct. 9. The last observed drain occurred at 12:37 p.m. ET (16:37 UTC), and about $79 million remained traceable on-chain at that time. Tether froze $10 million.

Ledger said it is investigating reports involving customers who bought devices from CryptoBilis and asked the reseller to stop sales and shipments. Ledger also advised customers who purchased from the reseller within the previous 90 days not to set up unused devices. Customers who had already activated devices were urged to consider moving assets to a new signer with a new seed.

A separate estimate put suspected losses at $93.4 million across 471 addresses, but Ledger has not confirmed either figure. The cause of the incident also remains unconfirmed.

Former Mt. Gox CEO Mark Karpelès said he found a Ledger device from Malaysia containing concealed hardware that could capture recovery phrases during setup. No connection between that device and the reported wallet drains has been established.