Hackers ‘Apparently Bought the Reseller,’ Says Changpeng Zhao — Ledger Issues Advisory After Reported $86 Million Crypto Losses

Binance founder Changpeng “CZ” Zhao reacted on Sunday to the Ledger hardware wallet hack that reportedly drained more than $86 million in cryptocurrency.Authorized Reseller Sold Unauthorized Device? Ledger confirmed an unauthorized hardware implant sold via the Malaysian reseller CryptoBilis and urged customers not to initialize unused devices purchased from the reseller.Ledger said CryptoBilis has paused all sales and shipments of Ledger wallets.“We are reminding our authorized resellers and distributors to source products only through authorized channels and never to restock returned products,” the France-based company stated.Ledger added that its direct sales channels and systems remain unaffected and it is reaching out to affected users to provide all possible support.72 hour update on reseller CryptoBilis incident 🔽As the investigation continues, we are working with relevant authorities. The volume of impacted devices is limited. We know this is concerning, especially for those directly affected, and we are reaching out to impacted users.…Widely followed on-chain detective Specter tracked the victim’s wallets across major blockchains, including Ethereum and Bitcoin , and pegged total losses at over $86 million.Note that Ledger has not officially confirmed a figure.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+… Read Also: Acquisition Under ScrutinyBala, an X user focused on cryptocurrency security, said that a random Chinese company secretly acquired CryptoBilis and forced the original owner to sign a confidentiality agreement, preventing them from disclosing that the company had been sold.they didn’t hack ledger. they didn’t exploit the code. they BOUGHT the company selling you the device. $86 million gonea company called CryptoBilis was an authorized ledger reseller in southeast asia. trusted. legit. sold ledgers for yearsa random chinese company quietly…CZ, who has been tracking the Ledger development, repeated these allegations, saying, “What’s crazier is the hackers apparently bought the reseller and made them sign a non-disclosure agreement to keep their mouth shut.”Benzinga contacted CryptoBilis for more details on the deal and the security incident involving Ledger wallets.What's crazier is the hackers apparently bought the reseller and made them sign a non-disclosure agreement to keep their mouth shut.So many things wrong here… Read Also: Photo Courtesy: Ruslan Ivantsov on Shutterstock.com