Ledger is investigating reports of cryptocurrency losses involving devices bought from CryptoBilis, an authorized reseller serving Indonesia, Malaysia and the Philippines. The hardware-wallet company has asked the reseller to halt sales and shipments while it examines whether customers’ devices may have been compromised.
The company said customers who bought Ledger devices through CryptoBilis during the past 90 days should not set them up. Customers who already used those devices were advised to consider moving their assets to a new Ledger signer using a newly generated recovery phrase.
Ledger has not said how many customers may be affected or disclosed the value of the reported losses. It also has not identified the cause of the incidents or confirmed that the devices themselves were compromised.
The investigation comes alongside reports from blockchain researchers of suspected thefts involving wallet addresses across several networks. According to Cointelegraph, researcher tanuki42 identified eight addresses allegedly connected to more than $72 million in losses. Another investigator, Specter, put the suspected losses above $86 million across Bitcoin, Ethereum and Tron.
Neither estimate has been confirmed by Ledger. The relationship between those reported wallet drains and the CryptoBilis investigation also remains unresolved.
What Ledger has told customers
Ledger said the situation appeared to be limited to the reseller and the affected market. The company said it had received no reports involving devices purchased directly from Ledger.
“Ledger’s infrastructure, systems and services were not compromised,” the company said, adding that its investigation was continuing. The distinction is important because a hardware wallet is designed to keep the credentials used to authorize transactions separate from an online exchange or software wallet. However, the company has not established whether the reported incidents involved counterfeit or altered products, setup procedures, or another mechanism.
CryptoBilis is listed as an authorized Ledger reseller in Indonesia, Malaysia and the Philippines. Ledger’s request that the reseller stop sales and shipments is described as a precaution while the investigation proceeds.
Onchain researcher tanuki42 told Cointelegraph that he could not confirm with certainty that every reported wallet drain involved a Ledger device purchased through CryptoBilis. He said, however, that he was not aware of a victim report that did not involve the reseller and considered the number of reports sufficient to rule out coincidence.
Researchers report losses across multiple blockchains
Security Alliance, a cryptocurrency security organization, amplified tanuki42’s findings on X and asked people whose funds were transferred to the identified addresses to contact its incident-response team. The organization did not issue its own estimate of the losses and did not identify a cause for the suspected thefts.
A separate update from the onchain analytics account Onchain Lens said wallets allegedly linked to the incidents moved about $270,000 in USDT and TRX to Binance on Friday afternoon. According to the account, most of that money was later sent to a Binance hot wallet.
Changpeng Zhao, Binance’s co-founder, called for industry participants to help trace and recover the funds. He also suggested that counterfeit or tampered Ledger devices could have been involved in a supply-chain attack. That possibility has not been confirmed by Ledger or established by the researchers cited in the reports.
The reported figures should therefore be treated as preliminary estimates rather than a confirmed total. The investigations have not established the number of victims, the total value lost, or whether all of the suspected thefts arose from the same incident.
Moneyiar market picture
Moneyiar market data at 11:38-11:39 a.m. on October 11, 2026, showed declines across the four listed assets:
- Chainlink (LINK): $12.8613841467, down 0.36% over 24 hours and 8.85% over seven days.
- Telcoin (TEL): $0.001715451, down 6.89% over 24 hours and 10.08% over seven days.
- edgeX (EDGE): $0.3506387575, down 3.18% over 24 hours and 25.68% over seven days.
- AKEDO (AKE): $0.0262127958, down 3.89% over 24 hours and 25.9% over seven days.
These market movements are separate from the Ledger investigation and do not indicate that the listed assets were connected to the reported losses. Ledger’s inquiry and the blockchain researchers’ analysis remain ongoing.
