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TRX Ledger launches investigation: Authorized dealers in Southeast Asia are suspected of supply chain attacks, resulting in user losses of US$86 million.
On-chain researchers estimate that US$72 million to 86 million may have been stolen. The incident has attracted widespread attention as Ledger began investigating reports of significant loss of crypto-assets from users who purchased hardware wallets at an authorized dealer in Southeast Asia.
Ledger manufacturers said there are currently no signs that its own infrastructure, systems or services have been compromised. However, a large number of users complained on social media X about huge losses.
How much was the stolen amount?
Ledger's official support channel on the X platform confirmed last night that it was investigating reports from CryptoBilis customers. CryptoBilis is listed as an authorized distributor in Indonesia, Malaysia and the Philippines. Ledger asked CryptoBilis to temporarily suspend all sales and shipping operations.
More importantly, the post urged anyone who purchased equipment from this dealer in the past 90 days and has not yet completed the installation, not to start the setup process now. For customers who already use this type of equipment, it is recommended to consider using newly generated mnemonics to transfer assets to a new Ledger signature device.
Chain detective tanuki42 traced more than $72 million in funds to suspected stolen addresses, while another investigator, Specter, estimated that losses involving BTC, ETH and TRX exceeded $86 million. Ledger's official account did not confirm either of these two numbers, and it is unclear whether the two estimates contain overlapping transaction records.
MistTrack pointed out that the amount of damage could be close to US$90 million, and Tether has reportedly frozen USDTs held in addresses related to the incident.
What happened?
Details about the specific circumstances are still scarce, but Binance co-founder Zhao Changpeng (CZ) said that currently available information suggests that this was a localized supply chain attack involving a single supplier, and that a small number of customers may have received counterfeit or physically tampered with Ledger devices.
Former Mt. Gox CEO Mark Karpeles added that he had been inspecting modified Ledger devices that contained hidden hardware implants and asked CryptoBilis to open units in its inventory to see if similar components existed.
He stated that one of the implants he inspected could monitor internal communications used to display restored mnemonics, which could cause attackers to capture mnemonics even if the real Ledger secure element itself remained intact.
Ledger claims that the reports appear to be limited to products sold through CryptoBilis and that the company "has no indication that Ledger's security infrastructure, systems or services have been compromised."
Meanwhile, users like Edward Winz have publicly admitted to being a victim of the incident, with $1 million reportedly stolen.
Just a month after Ledger's incident, its main competitor Trezor also experienced a similar security incident, in which the personal information of more than 80,000 U.S. users was leaked.
