Ledger claims CryptoBilis cases are limited as up to $93M is traced, $10M frozen
Ledger is facing scrutiny following a security exploit involving tampered hardware devices sold through a reseller, resulting in an estimated $93 million in losses. While Tether has frozen $10 million in stolen funds, Ledger is attempting to limit the scope of the incident to a single reseller, drawing criticism from the crypto community.
Why it matters
The incident highlights ongoing security vulnerabilities in the hardware wallet supply chain and raises questions about corporate accountability for third-party distribution channels.
Tether has frozen $10 million in USDT tied to the theft, while Ledger said Sunday that the investigations into the theft, first reported three days ago, are still underway.
Ledger confirmed an unauthorized hardware implant in at least one affected device. The company did not say whether the stolen wallet was compromised in the same way or how the devices were tampered with.
Blockchain analysis and intelligence company Bitquery said it traced $93.2 million linked to the Ledger exploit. It said the hackers stole mostly USDT and TRON tokens from 315 wallets across six blockchains. Security research platform YFarmX reported a higher number, saying the attackers siphoned off $94.5 million from 521 addresses across seven blockchains. Both estimates are based on public blockchain data, not a confirmed Ledger loss total.
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