Ledger Warns Buyers Not to Set Up Wallets From Reseller After Users Report Losses

According to Bitcoin Magazine, hardware wallet manufacturer Ledger is investigating the loss of user funds after customers in South East Asia reported issues with devices purchased from a reseller named CryptoBilis. On Friday, the Paris-based company advised customers who bought devices from the Kuala Lumpur, Malaysia-based vendor within the last 90 days not to set up their devices. Ledger did not reveal the exact amount lost, but blockchain investigator Specter wrote on X that over $86 million had been lost.

Ledger stated that it asked CryptoBilis to pause all sales and shipments of Ledger devices. The company advised users who already set up their devices to consider moving assets to a new Ledger signer with a new seed. In a statement to Bitcoin Magazine, Ledger reported that the incident is isolated specifically to this reseller in this market, noting that products purchased directly from Ledger were not affected and its infrastructure was not compromised. CryptoBilis did not immediately respond to questions from Bitcoin Magazine.