🇫🇷🇨🇳🇲🇾 Around $90 million is gone from bugged Ledger wallets, and the reseller that sold them had a new owner nobody was allowed to talk about.
Some of the wallets, sold through CryptoBilis, Ledger's authorized reseller for Indonesia, Malaysia and the Philippines, had a tiny implant hidden behind the screen.
It grabs the recovery phrase during setup and beams it out over a cellular connection.
The devices still pass Ledger's own authenticity check because the original security chip is left untouched.
Ledger has confirmed the implant in at least one device.
CryptoBilis was sold in March, and by August, 100% of its shares belonged to a single individual with an address in China's Heilongjiang province.
The original co-founders say they walked away from the business after the sale, and confidentiality terms kept them from announcing it.
Nobody has linked the mystery owner officially to the implants yet, and Ledger is staying quiet on the ownership change.
That's a big silence for a company whose whole pitch is "don't trust, verify."
Ledger hasn't said whether it knew its authorized reseller for 3 countries had been secretly sold to an unknown buyer, and either answer looks bad for a brand that sells trust for a living.
Its line so far is that only a "limited" number of devices were hit and its own systems are safe.
Posts are also circulating claiming a tampered device turned up in Europe, allegedly bought at MediaMarkt, but Ledger hasn't confirmed any cases outside CryptoBilis.
Between this and the Magic Eden exploit that saw thousands of NFTs stolen from wallets just weeks ago, it's been a rough month for holders.
Turns out cold storage doesn't help much when the wallet phones home.
Sources: Ledger, The Verge, Bloomberg, Gizmodo, Bitcoin News, BitPinas, eGamers / Writer: Julie
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