Ledger’s Crypto Wallets Reportedly Backdoored, $71 Million in Crypto Already Moved

Ledger said on Friday that it is investigating reports of lost funds from users in Southeast Asia who bought devices from CryptoBilis, a reseller the company lists for Indonesia, Malaysia, and the Philippines. In a post on X, Ledger Support said it had asked CryptoBilis to pause all sales and shipments while that review is underway.

“We recommend Ledger users who purchased from this reseller in the last 90 days to not initiate set up if you have not done so yet,” the support account said. “If you have set up your Ledger device, consider moving assets to a new Ledger signer (with new seed).”

A later reply from Ledger’s main account went further. “Based on the information available so far, we believe the funds drained are limited to devices sold through a reseller named CryptoBilis in South East Asia,” the company said. “We have no indication that Ledger’s security infrastructure, systems or services have been compromised.”

Ledger has not accused CryptoBilis of tampering with anything, and nothing public has shown that the shop altered devices. A separate party could have interfered with Ledger devices moving through that channel. CryptoBilis had not issued a public statement as of Friday afternoon.