Ledger Pauses Reseller Sales After $86M Drain Claims
Hardware wallet maker halts CryptoBilis sales and warns recent buyers after an analyst claims $86 million in user losses tied to the reseller channel.
Ledger has stopped selling devices through reseller CryptoBilis and is contacting customers who bought through that channel recently, according to BeInCrypto. The move follows claims that users suffered losses running into tens of millions of dollars.
An analyst cited in the report puts the losses at approximately $86 million. The central question raised by the coverage is whether hardware sold through the reseller had been tampered with before reaching buyers.
What has been reported
- Ledger has paused sales via reseller CryptoBilis.
- Recent buyers through that reseller are being warned by the company.
- An analyst attributes roughly $86 million in losses to the situation.
- No confirmation has been given on whether any devices were physically modified.
The report does not state whether Ledger has verified tampering, how the alleged losses occurred, or how many users are affected. Details on the timeframe and the specific devices involved were also not provided in the source material.
Hardware wallets are designed so that private keys stay inside a secure element, but supply-chain integrity has long been a concern for the sector. Security researchers have repeatedly advised buyers to source devices directly from manufacturers and to verify packaging and firmware on receipt, though the outcome of this particular case remains unconfirmed.