Ledger has instructed resellers and distributors across Southeast Asia and Hong Kong to stop selling cryptocurrency wallets and remove inventory from shelves during an investigation into compromised devices. The company discovered that some wallets purchased from reseller CryptoBilis contained unauthorized hardware implants designed to intercept and steal recovery phrases—security codes needed to access digital assets—and transmit them over an LTE connection to unauthorized parties. Ledger’s investigation, which began following reports of cryptocurrency losses from multiple users, confirmed that the implants operated as separate components that could not be detected by the company’s standard security checks.
While confirmed losses have only been linked to CryptoBilis sales, users have also reported purchasing compromised devices from other retailers in Asia and Europe, including a Singapore airport location and European electronics stores. In response to the supply-chain attacks, Trezor, a competing cryptocurrency hardware wallet manufacturer, announced plans to reduce its reseller network and implement stricter oversight procedures to prevent similar incidents. Trezor stated it found no evidence of compromised devices but decided to strengthen security protocols as a precautionary measure, with reseller authorizations ending January 1, 2027.
Source: Read the full story at BleepingComputer
This summary was written with AI assistance from the linked source.
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