CRYPTO CRIME | Ledger Confirms Hardware Wallet Implant with Reported Crypto Losses Exceeding Over $80 Million

Ledger has confirmed that at least one affected hardware wallet contained an unauthorized hardware implant as the cryptocurrency security firm investigates reported losses potentially exceeding $86 million across Bitcoin, Ether, and TRON.

Blockchain investigator, Specter, estimated the losses could surpass $86 million although Ledger has not confirmed the total amount stolen or the number of affected customers. The cases reported so far involve devices sold through Southeast Asian reseller, CryptoBilis, which has suspended hardware wallet sales pending the investigation.

Ledger said its infrastructure, systems, and services were not compromised and described the incident as apparently isolated to the reseller and its market.

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The company advised customers who purchased devices from CryptoBilis not to set up unused wallets. Those who have already initialized their devices should consider transferring their assets to a new Ledger device using a new recovery seed.

The investigation remains ongoing with Ledger contacting affected users and seeking information about the incident.

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