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Ledger investigates wallet drains tied to reseller CryptoBilis

Ledger asked CryptoBilis to pause all sales and shipments and warned buyers from the past 90 days to avoid setting up devices or, if already set up, to move assets.

Reported · Written up by our desk · Market Structure

Ledger said it is investigating reports of crypto fund losses from users in Southeast Asia who bought Ledger products through reseller CryptoBilis, after wallet-drain allegations surfaced. The Block reported that one onchain estimate put suspected losses above $72 million and another above $86 million across Bitcoin, Ethereum, and Tron, though the total has not been confirmed.

Ledger said the cause of the losses remains unclear and has asked CryptoBilis to pause all sales and shipments while the investigation continues. According to The Block, Ledger advised buyers from the past 90 days not to set up devices, or, if devices were already set up, to consider moving assets to a new signer.

CryptoBilis is listed as an official Ledger reseller in Indonesia and Malaysia, where the affected buyers are located, based on the details Ledger provided in its probe, The Block said.

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