According to Bitcoin News (@BitcoinNewsCom), CryptoBilis, an authorized reseller of Ledger hardware wallets in Malaysia, completed a share transfer in March of this year, with the new shareholder being a Chinese national named Jiaming, whose registered address is in Heilongjiang Province, China. Jiaming officially acquired 100% ownership of the company on August 3. The original co-founders confirmed that the previous shareholders have fully withdrawn from all operational, managerial, and administrative roles and no longer hold any knowledge or involvement in the company’s operations. Meanwhile, investigations have indicated that the Ledger hardware wallets sold by CryptoBilis may have been compromised by a supply chain attack, with hidden modules implanted in the devices capable of stealing users’ seed phrases. At this time, there is no direct evidence linking the aforementioned ownership change to the security incident, and the investigation is ongoing.
Malaysian Ledger reseller CryptoBilis acquired by Chinese national amid suspected supply chain attack
TechFlowShare
Summary
In March 2026, Malaysian Ledger reseller CryptoBilis was fully acquired by Chinese national Jiaming, based in Heilongjiang. The original co-founders have departed all operational roles. Security investigations indicate that Ledger devices sold by the company may have been tampered with, potentially exposing recovery phrases. No evidence currently links the change in ownership to the breach. Traders relying on on-chain trading signals should remain cautious. Value investing in crypto requires thorough due diligence amid such developments.
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