CryptoBilis ownership changed in March, linked to the Ledger wallet security incident.

Huoxing Finance reports that on October 10, during an investigation into the suspected supply chain attack on Ledger devices, it was revealed that CryptoBilis, a Malaysian hardware wallet distributor, had previously undergone a change in ownership. Newly disclosed company records show that an individual named Jiaming, with a registered address in Heilongjiang Province, China, has held 100% of the company’s shares since August 3. CryptoBilis’s former co-founder confirmed that the company was acquired in March of this year, after which the original shareholders stepped down from all operational, managerial, and administrative roles. The founder stated that after the handover, the original team lost visibility into the company’s actual operations and now only assists with limited coordination activities, emphasizing, “We are no longer part of the company,” and urging the current management to handle the situation transparently. This disclosure of ownership change comes as CryptoBilis is under scrutiny for its alleged involvement in the Ledger hardware wallet supply chain attack, with reports suggesting hidden modules capable of stealing recovery phrases were implanted in affected devices. However, there is currently no conclusive evidence linking the ownership change to the wallet theft incidents. CryptoBilis has temporarily suspended sales and shipments of hardware wallets from all brands through its retail stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical stores until further notice.