Changpeng Zhao has urged Ledger hardware wallet users to stay alert, with a particular warning for people who bought devices recently. Based on the information available so far, the incident appears to be confined to the supply chain and tied to one supplier, raising the possibility that a small number of users received counterfeit or tampered Ledger devices. Zhao said Ledger remains one of the longest-standing and more secure hardware wallet brands in crypto, though incidents like this can still happen. He also called on the BNB ecosystem and the broader crypto industry to help trace stolen funds and support recovery efforts. Earlier, Ledger said it was investigating a theft case affecting users in Southeast Asia who had purchased devices through reseller CryptoBilis. The company asked CryptoBilis to halt sales and shipments, and advised customers who bought through the reseller in the past 90 days not to initialize their devices. Users who already set up a device were told to create a new Ledger signing device with a new recovery phrase and move funds to a new wallet. On-chain investigator Specter estimated losses above $86 million, while security researcher tanuki42 had earlier put the figure above $72 million and said it was still rising.
ChainCatcher reported that Changpeng Zhao warned Ledger hardware wallet users to stay vigilant, especially those who purchased devices recently.
Based on currently available information, the incident appears to be limited to the supply chain and to involve one supplier. A small number of users may have bought counterfeit or tampered Ledger devices.
Zhao said Ledger is a long-established hardware wallet brand with a relatively strong security record in the industry, but incidents of this kind can still occur. He also said he expects and urges the BNB ecosystem and the wider crypto industry to help trace stolen funds and push for their recovery.
Earlier, Ledger confirmed that it is investigating an asset theft case involving users in Southeast Asia. Those users had purchased devices through reseller CryptoBilis.
Ledger has asked CryptoBilis to suspend sales and shipments. The company also advised users who bought devices through the reseller within the past 90 days not to initialize them for now. If a device has already been set up, Ledger said users should create a new Ledger signing device with a new recovery phrase and move assets to a new wallet.
On-chain investigator Specter estimated that the incident has affected hundreds of wallets across the Bitcoin, Ethereum and TRON networks, with losses exceeding $86 million. Security researcher tanuki42 had earlier estimated losses at more than $72 million and said the amount was still increasing.
The specific cause of the incident, and whether the devices involved had a security vulnerability, remain under investigation.
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