Ledger investigates reports of stolen wallet funds, with on-chain analysts estimating losses exceeding $86 million; CZ warns it may be a supply chain attack.
Ledger, the world's largest hardware wallet manufacturer, is investigating reports of stolen wallet funds involving users of its reseller, CryptoBilis. Ledger has requested CryptoBilis to suspend sales and shipments and advises users who purchased devices within the last 90 days not to initialize them. Users who have already set up their devices should transfer assets to a new Ledger signer using a new seed phrase. On-chain analyst Specter has traced the flow of funds from hundreds of victim wallets on Ethereum, TRON, and Bitcoin to suspicious addresses, estimating total losses exceeding $86 million. Binance founder CZ stated that, based on available information, the theft appears to be a supply chain attack involving a single vendor, where a small number of users may have purchased counterfeit or tampered Ledger devices. He called on the BNB ecosystem and the broader industry to assist in recovering the stolen funds. MistTrack reported that Tether is freezing multiple USDT addresses related to this incident, with tracked losses currently approaching $90 million.
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