Ledger investigates customer fund losses linked to hardware wallet reseller
On-chain analyst Specter reported that wallet-draining incidents affecting Ledger users have caused more than $86 million in losses.
Ledger is looking into reported fund losses involving Southeast Asian customers who bought its products through reseller CryptoBilis, the hardware wallet maker said in an Oct. 9 statement.
Ledger is investigating reports of loss of funds from users in South East Asia who purchased products from a reseller named CryptoBillis. As a precaution, and pending the results of our investigation, we have asked CryptoBilis to pause all sales and shipments of Ledger devices.…
— Ledger Support (@Ledger_Support) October 9, 2026
The probe comes after on-chain analyst Specter said more than $86 million in suspected losses were linked to wallet-draining incidents reported by Ledger users on X and Reddit.
According to Specter, an analysis of the theft addresses revealed funds flowing in from hundreds of victim wallets across Ethereum, TRON, Bitcoin and other major blockchains.
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Pending the investigation, Ledger has asked the reseller to halt all device sales and shipments. The company has also urged customers who purchased from CryptoBilis within the last 90 days to avoid initiating device setup if they have not already done so.
Customers who have set up their devices should consider transferring their assets to a new Ledger signer using a new seed phrase. Ledger said it would provide further updates as the investigation progresses.