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Ledger claims CryptoBilis cases are limited as up to $93M is traced, $10M frozen

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Ledger claims CryptoBilis cases are limited as up to $93M is traced, $10M frozen

As much as $93.2 million in crypto was siphoned from wallets linked to the Ledger devices sold by the reseller CryptoBilis, according to several blockchain analytical and intelligence firms.

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.

Ledger did not immediately respond to a CoinDesk request for confirmation of the amount stolen and whether it is considering a reimbursement plan for those affected by the exploit.

The Tether freeze, confirmed by Bitquery, is important because stablecoin issuers can block tokens linked to crime, unlike bitcoin or ether. Bitquery also said roughly $81 million could still be traced onchain as of Oct. 11, while some funds had moved through Tornado Cash and Zcash.

Tether did not immediately respond to a CoinDesk request for comment on the freeze.

Ledger’s effort to characterize the incident as confined to CryptoBilis has drawn pushback because the reseller was listed as authorized on Ledger’s website.


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