ChainCatcher report: During the investigation into the suspected supply chain attack on Ledger devices, it was revealed that ownership of Malaysian hardware wallet distributor CryptoBilis has 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-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 founding team stated that since the handover, they have had no insight into the company’s actual operations and have only continued to assist with certain coordination activities; they emphasized that 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 over alleged involvement in the Ledger hardware wallet supply chain attack, during which devices are said to have been implanted with hidden modules capable of stealing seed phrases—though no conclusive evidence currently links the ownership change to the wallet theft incident. 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.
CryptoBilis ownership transfers to Chinese national amid Ledger wallet security concerns
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Summary
CryptoBilis ownership is now fully held by Jiaming, a Chinese national based in Heilongjiang, according to updated records from August 3. The former co-founder confirmed that all original shareholders have exited their operational roles. The company has ceased hardware wallet sales and closed physical stores in Malaysia, the Philippines, and Indonesia. This shift follows concerns over Ledger wallet security, with allegations of tampered devices in the supply chain. No direct link has been established between the ownership change and the alleged breach. Traders should evaluate the risk-to-reward ratio before engaging with affected products. Market support and resistance levels may shift as investor confidence fluctuates.
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