CZ Warns of Risk of Supply Chain Attack on Ledger Hardware Wallets

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On-chain news emerged as CZ warned Ledger hardware wallet users to remain vigilant, particularly recent purchasers. A supply chain issue involving one supplier may have resulted in counterfeit or tampered devices. Ledger is investigating stolen assets linked to Southeast Asian users through dealer CryptoBilis. The company has halted sales and urged users to avoid initializing devices purchased within the last 90 days. Ecosystem growth remains a priority as the crypto community works to track and recover funds. Over $86 million in losses has been reported across major blockchains, with investigations ongoing into the cause and potential device vulnerabilities.

BlockBeats news, on October 9, CZ posted a warning to Ledger hardware wallet users to remain vigilant, especially those who recently purchased devices. According to current information, this incident appears limited to the supply chain and involves a single supplier; a small number of users may have received counterfeit or tampered Ledger devices.


CZ stated that Ledger is a well-established and highly secure hardware wallet brand within the industry, but such incidents can still occur. He anticipated and called on the BNB ecosystem and the broader crypto industry to assist in tracking the stolen funds and facilitating their recovery.


Previously, Ledger confirmed it is investigating an asset theft incident involving users in Southeast Asia, whose devices were purchased through the distributor CryptoBilis. Ledger has requested that CryptoBilis suspend sales and shipments, and advised users who purchased devices through this distributor within the past 90 days not to initialize their devices; if setup has already been completed, users should create a new Ledger signing device using a new recovery phrase and transfer their assets to the new wallet.


On-chain investigator Specter estimates that hundreds of wallets on the Bitcoin, Ethereum, and Tron networks have been compromised in this incident, resulting in losses exceeding $86 million. Security researcher tanuki42 previously estimated losses at over $72 million and noted that the amount continues to rise. The exact cause of the incident and whether any involved devices had security vulnerabilities remain under investigation.

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