Ledger is investigating a theft incident affecting users in Southeast Asia who bought hardware wallets through reseller CryptoBilis, according to ChainCatcher. The wallet maker has asked CryptoBilis to halt sales and shipments and warned customers who purchased devices from the reseller within the past 90 days not to initialize them for now. For users who have already set up their devices, Ledger advised creating a new Ledger signing device with a new recovery phrase and moving assets to a new wallet. On-chain investigator Specter estimated that the incident has compromised hundreds of wallets across the Bitcoin, Ethereum, and TRON networks, with losses exceeding $86 million. Security researcher tanuki42 had earlier put losses above $72 million and said the figure was still rising. The exact cause of the incident, and whether the devices involved contain a security flaw, has not yet been confirmed.
Ledger is investigating a theft incident affecting users in Southeast Asia who purchased devices through reseller CryptoBilis, according to ChainCatcher.
Ledger has asked CryptoBilis to suspend sales and shipments. The company also advised users who bought devices from the reseller within the past 90 days not to initialize them for now. Users who have already completed setup were told to create a new Ledger signing device with a new recovery phrase and transfer their assets to a new wallet.
Loss estimates top $86 million
On-chain investigator Specter estimated that the incident has led to the theft of 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 total was still increasing.
Cause remains under investigation
The exact cause of the incident, and whether the devices involved have a security vulnerability, has yet to be confirmed.
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