Ledger Faces $87M Theft Probe Linked to Wallet Reseller

Ledger probes suspected $87 million theft tied to crypto wallet reseller

Hardware wallet maker Ledger is investigating a wave of unauthorized crypto transfers reported by customers in Southeast Asia after purchasing devices distributed by regional reseller CryptoBilis. The company said it asked the merchant to halt all shipments and sales immediately while it examines how users’ funds were drained.

The inquiry began on Oct. 9, 2026, following user reports of unexpected fund movements across multiple blockchains, according to reporting cited by The Coin Republic. An on-chain investigator tracking the activity has linked more than $86 million in suspected thefts to wallets associated with affected buyers, with some estimates placing the total as high as $93 million. Other coverage has framed the suspected losses at roughly $87 million.

Ledger’s warning applies specifically to inventory sourced through CryptoBilis over the previous three months. The company also urged recent buyers not to set up their devices until it completes its review of the reseller-related incident.

The case matters because hardware wallets are widely used to keep private keys offline, reducing exposure to online attacks. But incidents tied to the supply chain—such as distribution or reseller compromise—can undermine that security model by putting users at risk before they even start using a device.

Ledger has not publicly detailed the mechanism behind the reported balance drains, and the company’s probe is focused on determining how funds left customer wallets following purchases linked to the reseller.

• Who is affected: Customers in Southeast Asia who bought Ledger devices from CryptoBilis in the last three months
• What Ledger did: Ordered the reseller to pause sales and shipments; told recent buyers not to initialize devices
• Scale: On-chain tracking has linked over $86 million in suspected thefts; totals cited elsewhere range up to $93 million

The incident adds to a growing list of reminders that wallet security is not only about the device itself, but also about trusted distribution, setup hygiene, and careful transaction verification—especially as attackers increasingly target the paths users take to secure their assets.