ME News reports that on October 10 (UTC+8), during an investigation into a suspected supply chain attack on Ledger devices, it was revealed that ownership of Malaysian hardware wallet distributor CryptoBilis had changed. Newly disclosed corporate 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-founders confirmed the company was acquired in March of this year, after which the original shareholders stepped down from all operational, managerial, and administrative roles. The founding team stated they have had no insight into the company’s actual operations since the handover and have continued only to assist with certain coordination activities; they emphasized they are no longer part of the company and urged the current management to handle the matter transparently. The ownership change comes as CryptoBilis is under scrutiny for alleged involvement in the Ledger hardware wallet supply chain attack, during which devices were reportedly compromised with hidden modules capable of stealing recovery phrases—though no definitive evidence currently links the ownership change to the wallet theft incident. CryptoBilis has temporarily suspended sales and shipments of all branded hardware wallets through its stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical stores until further notice. (Source: ChainCatcher)
CryptoBilis ownership transfers to Chinese individual amid ledger wallet security concerns
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Summary
A security breach has raised concerns regarding Ledger wallets, as on-chain reports reveal that CryptoBilis in Malaysia has transferred ownership to a Chinese individual. Records indicate that Jiaming has held 100% of shares since August 3, following an acquisition in March. The former co-founder confirmed the departure of the original shareholders from operations. The ownership change coincides with allegations of a Ledger wallet supply chain attack involving hidden modules. CryptoBilis has suspended sales and shipments in Malaysia, the Philippines, and Indonesia, and closed its physical stores. No direct link has been established between the security breach and the ownership transition.
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