Hackers ‘Apparently Bought the Reseller,’ Says Changpeng Zhao — Ledger Issues Advisory After Reported $86

Binance (CRYPTO: BNB) founder Changpeng “CZ” Zhao reacted on Sunday to the Ledger hardware wallet hack that reportedly drained more than $86 million in cryptocurrency.

Authorized Reseller Sold Unauthorized Device?

Ledger confirmed an unauthorized hardware implant sold via the Malaysian reseller CryptoBilis and urged customers not to initialize unused devices purchased from the reseller.

Ledger said CryptoBilis has paused all sales and shipments of Ledger wallets.

“We are reminding our authorized resellers and distributors to source products only through authorized channels and never to restock returned products,” the France-based company stated.

Ledger added that its direct sales channels and systems remain unaffected and it is reaching out to affected users to provide all possible support.

Widely followed on-chain detective Specter tracked the victim’s wallets across major blockchains, including Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC), and pegged total losses at over $86 million.

Note that Ledger has not officially confirmed a figure.

Acquisition Under Scrutiny

Bala, an X user focused on cryptocurrency security, said that a random Chinese company secretly acquired CryptoBilis and forced the original owner to sign a confidentiality agreement, preventing them from disclosing that the company had been sold.