CryptoBilis-Linked Ledger Devices Expose Up to $94.5 Million

A security breach involving Ledger devices sold through authorized distributor CryptoBilis may have exposed up to $94.5 million in crypto assets, with at least one affected device containing unauthorized hardware.

Blockchain analysis firms estimated that attackers took assets from wallets connected to hundreds of Ledger devices distributed by CryptoBilis. Ledger has not confirmed the $94.5 million total.

Ledger identified unauthorized hardware inside at least one affected device. Tether also froze $10 million in USDT linked to the theft while investigators tracked the movement of the funds.

Ledger advised CryptoBilis customers not to initialize unused devices. Customers already using those devices were told to move their assets to new hardware and create new recovery phrases.