Ledger probes $86M crypto breach involving Malaysian distributor

• Ledger suspended CryptoBilis sales amid an investigation into roughly $86 million in crypto theft across Bitcoin, Ethereum and TRON wallets.
• Bitquery estimated $92.9 million stolen from 311 wallets across five blockchain networks.
• Binance co-founder CZ urged the broader crypto industry to help Ledger secure the stolen funds.

Ledger is investigating reports of more than $86 million in crypto losses involving customers who purchased its hardware wallets through CryptoBilis, an authorized reseller operating in Southeast Asia.

Ledger investigates suspected supply-chain security breach

Ledger's official support account confirmed the investigation on Friday and asked CryptoBilis to suspend sales and shipments during the period. The reseller operates across Malaysia, Indonesia and the Philippines.

Onchain investigator Specter initially estimated losses at more than $86 million, tracing transactions from hundreds of wallets across Bitcoin, Ethereum and TRON. However, the figure has not been confirmed by Ledger.

A separate investigation by blockchain analytics firm Bitquery estimated that approximately $92.9 million had been stolen from 311 wallets across five networks: Bitcoin (BTC), Ethereum (ETH), TRON, BNB Chain (BSC) and Polygon (POL).