Hardware wallet manufacturer Ledger asked regional distributor CryptoBilis to suspend all sales and shipments of its products while the company investigates reports of stolen cryptocurrency from users in Southeast Asia.
The decision follows customer reports of drained wallet balances after purchasing hardware devices from the distributor. Ledger Support advised customers who bought a device from CryptoBilis within the last 90 days to hold off on initializing setup. Users who have already configured a device were urged to transfer their digital assets immediately to a separate, uncompromised wallet with a freshly generated seed phrase.
Binance founder Changpeng Zhao addressed the situation on social media platform X, attributing the thefts to a localized supply chain attack involving a single vendor. Zhao noted that affected units were likely tampered with or replaced with counterfeit devices before reaching buyers. He added that industry participants across the BNB ecosystem are coordinating efforts to trace and recover stolen digital assets.
Former Mt. Gox CEO Mark Karpelès publicly requested CryptoBilis to open in-stock inventory to inspect units for hardware implants or malicious physical modifications.
Ledger confirmed its internal investigation remains active and directed affected customers to submit inquiry tickets through its official support channel.
CryptoBilis is a regional web3 store and authorized hardware wallet distributor based in Malaysia and the Philippines. It sells brands like Ledger and Trezor and organizes community crypto events in the region.
The company annually organizes Bitcoin Pizza Day events in Malaysia and the Philippines.
Cryptobilis has yet to issue a statement.
This article is published on BitPinas: Ledger Asks MY and PH-based CryptoBilis to Pause Sales Amid User Reports of Drained Funds, Security Concerns
What else is happening in Crypto Philippines and beyond:
No Comment! Be the first one.