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BTC Ledger blames dealers for the theft of $86 million in crypto assets and strengthens security measures
Ledger, a well-known French cryptocurrency hardware wallet manufacturer, announced that after a tracking investigation, the recent large-scale crypto asset theft was related to equipment purchased from CryptoBilis. CryptoBilis is a licensed dealer operating in Southeast Asia.
Dereler-associated devices under review
Ledger noted in a statement released on October 11 that only those wallets purchased through the CryptoBilis channel appeared to have been affected by the theft discovered on October 9. The company did not disclose the exact number of wallets compromised, but said the impact was limited.
Ledger emphasized that the security incident did not affect the company's own infrastructure or equipment sold directly by the company. The company assured customers that its systems and direct channels remained secure and isolated the incident from the company's internal operations.
Investigation progress and estimated losses
Ledger is actively working with law enforcement and regulatory agencies to find out the truth about the theft methods. Company representatives are reaching out to affected customers to assist them with the loss and provide support.
Blockchain analysts report that as much as $86 million in digital assets may have been stolen using compromised hardware devices. However, these data have not yet been finally confirmed. The company pointed out that ongoing's investigation revealed several worrying details that deepened industry concerns about the vulnerability of the hardware wallet supply chain.
Concerns about hardware implantation and tampering
Ledger previously disclosed that an unauthorized hardware implant was found in the wallet used by an affected customer. The discovery raised suspicion that some equipment may have been tampered with before delivery.
Investigators are still reviewing whether all reported theft cases stem from similar modifications or whether each case involves a different method. As a key distributor of Ledger products in Southeast Asia, CryptoBilis has temporarily suspended sales of all hardware wallets after the news broke.
A brief explanation of terms: CryptoBilis is a regional authorized dealer that provides cryptocurrency hardware wallets mainly in Southeast Asia; authorized dealers distribute products based on agreements with manufacturers, and for hardware security devices, the integrity of the supply chain is particularly critical.
Strengthen security measures and industry calls
In response to this vulnerability, Ledger tightened supply chain control measures. The company has strengthened dealer verification processes and upgraded hardware designs to better prevent unauthorized physical tampering.
Ledger urges its distributors to purchase wallets only through official channels and discourages reselling returned equipment to minimize risk. The company reiterated that strict compliance with these agreements is crucial to ensuring the safety of customer funds.
Considering the broader implications, Ledger emphasized that the risks revealed are not limited to its product itself. Given the increasing complexity of tamper attacks, the company calls on other wallet manufacturers and cybersecurity experts to work together to improve security defenses across the hardware wallet industry.
