PeckShield Links $3.89 Million Ledger Wallet Theft to Binance Deposits

Blockchain security firm PeckShield has traced approximately $3.89 million stolen from compromised Ledger hardware wallets to deposit addresses on Binance, a major cryptocurrency exchange. The investigation revealed that the funds, which included around 3.685 million USDT and 615,000 TRX, were transferred over a two-day period starting October 9, 2026, and moved through the Tron network before reaching Binance.

This incident is part of a larger theft campaign, with total losses estimated between $86 million and $94.5 million affecting over 300 wallets across various blockchains, including Bitcoin and Ethereum. The majority of the stolen assets were in USDT on Tron, and the compromised devices were reportedly purchased from CryptoBilis, a Southeast Asian reseller of Ledger hardware. Following the incident, Ledger has halted sales through CryptoBilis and confirmed unauthorized modifications to at least one of the affected devices.

In response to the theft, Tether has frozen approximately $10 million in USDT linked to the attack. However, the attacker has attempted to evade these measures by converting some funds into USDD, a different stablecoin. The use of mixers to obscure the origins of the funds adds another layer of complexity to the investigation, as these services blend assets from multiple users.

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Source: KLEA News