Ledger asked CryptoBillis to suspend wallet sales — The Verge

Ledger has asked reseller CryptoBillis to suspend sales and shipments of its crypto wallets while it investigates reports of users losing funds in Southeast Asia. As The Verge reports, the suspicions concern possible tampering with devices purchased through this seller.

On photos and videos published on X and Threads, a small printed circuit board can allegedly be seen placed beneath a crypto wallet’s screen. According to the reports, such a module may have intercepted data displayed on the screen, including the initial seed phrase during device setup.

Suspected hidden module

It is also claimed that a built-in SIM card could have transmitted this data to attackers, who could then withdraw cryptocurrency from users’ wallets. Ledger is verifying these reports.

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Losses estimated at more than $86 million

According to available reports, assets worth more than $86 million may have been stolen from hundreds of crypto wallets. At the same time, there are no signs that Ledger’s systems were compromised or that the problem affected devices purchased directly from the company.

The incident is being considered a likely supply-chain attack, primarily affecting buyers in Southeast Asia and reseller CryptoBillis. Ledger has published recommendations for checking devices for possible tampering.