Ledger is investigating reports of user funds being drained from hardware wallets purchased through reseller CryptoBilis in Southeast Asia over the last 90 days, with blockchain investigator Specter estimating over $86 million lost. The company advised affected customers not to set up their devices and to move assets to new Ledger signers, while confirming that Ledger's own infrastructure and systems were not compromised.
A Ledger hardware wallet user lost 7 million USDT approximately 10 hours after depositing funds into a device purchased from distributor CryptoBillis, marking possibly the largest single loss in an ongoing incident where multiple users have had funds stolen totaling near 90 million USD.