Behind the evaporation of 86 million dollars: The Ledger supply chain heist and the most vulnerable link of hardware wallets

Approximately 86–92 million dollars in cryptocurrency were stolen from users who purchased Ledger hardware wallets from Southeast Asian dealer CryptoBilis in October. Victims followed security best practices including handwritten mnemonic phrases, yet funds were transferred without authorization, suggesting the devices were compromised before purchase. The incident affected roughly 98 wallets with an average loss of 890,000 dollars per victim.