Ledger Investigates $93.2 Million Crypto Drain Tied to Reseller Devices

Ledger is examining a $93.2 million cryptocurrency drain involving hardware wallets distributed by Southeast Asian reseller CryptoBilis.

The losses affected 315 wallets across TRON, Bitcoin (BTC), Ethereum, Solana, BNB Chain and Polygon. The reported drains occurred on Oct. 9, with balances analyzed through 3 a.m. ET (07:00 UTC) Oct. 10.

TRON accounted for $70.5 million of the losses, followed by $16.8 million in Bitcoin and $3.7 million on Ethereum. Tether froze $10 million in USDT across 20 wallets.

Ledger asked CryptoBilis to pause all sales and shipments while the investigation continues. It also advised customers who recently bought devices not to initialize unused units and told active users to transfer assets to a new device using a newly generated seed phrase.

The affected customers include users in Indonesia, Malaysia and the Philippines. Ledger said its security infrastructure, systems and services were not compromised.