Ledger has confirmed that one device belonging to an impacted user contained an unauthorized hardware implant. The company announced the finding on October 10 as part of its investigation into reported thefts linked to devices sold in Southeast Asia.
The devices were sold through reseller CryptoBilis, which has stopped selling and shipping all hardware wallets as a precaution. Ledger says it is contacting impacted users and working with authorities, but it has not yet established whether the implant caused the reported losses.
Blockchain researchers estimate the suspected losses at more than $86 million, with one estimate putting the figure near $92.9 million across about 311 wallets. Ledger has not independently confirmed those totals. The suspected drains were traced across Bitcoin, Ethereum and Tron addresses, and a researcher reported finding suspicious electronics inside a device in Malaysia.
Ledger is advising anyone who bought a device from that reseller in the past 90 days not to set it up. Users who already activated such a device are advised to consider moving their funds to a new device with a freshly generated recovery phrase.
For traders, the news is a reminder that security fears can quickly hurt market confidence, especially in a sensitive week for Bitcoin and Ethereum prices. Buying hardware wallets only from official and trusted sellers is now the key lesson from this breaking story.
Read also: Bitcoin Holds Near $82,500 After a Volatile Week in the Crypto Market
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, Crypto.news
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