Hardware wallet manufacturer Ledger is investigating reports of encrypted asset losses following the purchase of devices through a distributor in Southeast Asia, and advises affected customers to consider transferring their assets to a new wallet while the investigation is ongoing.

Ledger issued a statement on X stating that it has requested distributor CryptoBilis to suspend the sale and shipment of their devices as a preventative measure. The company advises customers who purchased devices from this distributor within the past 90 days not to proceed with setting them up; those who have already completed the setup should consider transferring their assets to a new Ledger signer with a newly generated mnemonic phrase.

CryptoBilis is listed as an authorized distributor of Ledger in Indonesia, Malaysia, and the Philippines.

Ledger Support Source: Ledger Support

Ledger has not disclosed the number of customers that may be affected, nor has it revealed the amount of losses reported. The company has also not explained the cause of the incident, nor confirmed whether the devices were compromised.

Meanwhile, researchers on the blockchain have reported that there have been suspected incidents of cryptocurrency theft across multiple blockchains. Researcher tanuki42 identified 8 wallet addresses that are said to be related to losses exceeding $72 million; another investigator, Specter, estimates that the losses involving Bitcoin, Ethereum, and Tron exceed $86 million.

Ledger has not confirmed these two estimates, and it is still unclear whether there is a connection between these events and the investigation by CryptoBilis.

Specter Source: Specter

The encryption and security organization Security Alliance ( SEAL ) has shared the findings of tanuki42 on X, and urges anyone whose funds have been transferred to these addresses to contact their incident response team. The organization has not provided an independent estimate of losses, nor has it explained the suspected reasons for the theft.

Ledger stated in its declaration to Cointelegraph that this incident seems to be limited to that distributor and the affected markets, and added that the company has not received any reports involving the direct purchase of equipment from Ledger.

"The infrastructure, systems, and services of Ledger have not been affected," the company stated, adding that the investigation is still ongoing.

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