As a precaution, the company said it asked CryptoBilis to pause all sales and shipments while its investigation continues. Ledger advised customers who purchased devices from the reseller within the past 90 days not to begin setting them up. Those who have already activated their wallets should consider moving their assets to a new Ledger device with a newly generated recovery phrase, the company said.
The potential theft may add to an already rough year for crypto security. Last month, crypto exchange Bitget suffered an exploit that resulted in over $350 million in stolen assets. Other major incidents included Liquid Network at about $320 million, Drift at $295 million and Kelp at $293 million, according to DefiLlama data.
Founded in 2014 and based in Paris, Ledger is a major maker of hardware wallets, devices that keep the private keys used to access cryptocurrency offline. The company says it has sold more than 7 million devices worldwide and its products are widely used by investors seeking to protect their crypto without relying on exchanges.
That makes any potential security issue involving its products significant for the broader crypto market. In this case, however, the investigation concerns devices sold through a third-party reseller, and there is no confirmed evidence that Ledger’s own systems or wallet technology were compromised.
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