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Ledger Investigates Wallet Tampering Linked to Significant Crypto Thefts
Ledger, a prominent hardware wallet manufacturer, has initiated an investigation into reports of substantial fund losses among customers in Southeast Asia. The investigation, announced on October 9, 2026, focuses on devices purchased through CryptoBilis, an authorized reseller operating in Indonesia, Malaysia, and the Philippines. Ledger has instructed CryptoBilis to cease all sales and shipments while the inquiry is underway.
Customers who bought devices from CryptoBilis within the last 90 days are advised to leave uninitialized devices unopened. Those who have already set up their wallets are urged to transfer their assets to a new Ledger device, ensuring that a completely new seed phrase is generated. Ledger has emphasized that its own systems and directly sold devices remain secure and uncompromised.
The investigation follows allegations of tampering, with social media posts suggesting that some devices may contain unauthorized hardware capable of capturing sensitive information displayed on the screen. Reports indicate that this tampering could involve a circuit board with an embedded SIM card, potentially allowing attackers to access users' recovery phrases and drain their wallets. As of October 10, 2026, no confirmed link between the alleged tampering and CryptoBilis has been established, and the investigation is ongoing.
Onchain analysts have estimated that losses from these incidents could range from $72 million to $93 million, with significant amounts of Ethereum, Bitcoin, and Tether involved. Tether has already frozen approximately $10 million in USDT associated with some of the suspected theft addresses. The situation remains fluid as investigators continue to assess the extent of the issue and its implications for wallet buyers.
Source: KLEA News