Ledger Halts Reseller Sales as $86M Wallet-Drain Claims Probed

Ledger has instructed a Southeast Asian reseller to suspend sales of its hardware wallets while it looks into reports that customer funds were lost. The directive came roughly an hour after blockchain investigators estimated the suspected drain on Ledger devices at more than $86 million.

The company has not verified that total or said whether any units were interfered with. Its notice applies only to customers who bought recently from that reseller in Southeast Asia.

Ledger’s Advice to CryptoBilis Purchasers

Hardware wallets are compact devices that hold the private keys to a person’s crypto assets offline. Ledger is one of the most recognizable names in the category.

On Friday, Ledger Support identified the seller as CryptoBilis. The Malaysian firm, set up in 2020, sells crypto merchandise along with Ledger devices and runs operations in Indonesia and the Philippines.

Anyone who bought a device from the shop during the past 90 days was told not to set it up. Those who had already done so were advised to move their money to a fresh device with a newly generated seed phrase. A seed phrase is the 24-word backup that controls access to a wallet.

“As a precaution, and pending the results of our investigation, we have asked CryptoBilis to pause all sales and shipments of Ledger devices,” Ledger Support wrote.

Behind the $86 Million Loss Estimate

The figure comes from Specter, an on-chain analyst who monitors public blockchain records. Specter said they traced funds out of hundreds of victim wallets on Ethereum, TRON, and Bitcoin.

There have been a reports on X and Reddit of wallet-draining by Ledger users.

I traced the theft addresses and identified inflows from more hundreds of victim wallets across several major blockchains, including Ethereum, TRON, and Bitcoin.

Total losses $86M+…

— Specter (@SpecterAnalyst) October 9, 2026

According to mempool records, three Bitcoin addresses listed by Specter contain around 211 BTC combined, and none of that balance had moved by 13:44 UTC on Friday.

Ledger has neither endorsed the $86 million figure nor explained how funds left users’ wallets.

Another Hardware-Wallet Scare After August

Devices tampered with and sold outside official channels represent a known risk. In April, a researcher found counterfeit Ledger units on a Chinese marketplace that forwarded PINs and seed phrases to attackers.

Separately, a Coldcard firmware bug in August drained about $70 million from Bitcoin holders. Coldcard is a competing wallet maker.

Ledger has promised to share more updates as the investigation proceeds. Whether CryptoBilis devices were altered before they reached customers is still unresolved.