Bitcoin holder loses 80 BTC worth $5.2 million after moving funds to reseller-bought Ledger

80 BTC Vanish After Ledger Buyer Buys Device from Reseller in Southeast Asia

Incident Details

A Bitcoin holder watched 80 BTC, worth $5.2 million, vanish after moving the coins onto a Ledger hardware wallet. The device was not bought from Ledger directly. It came from CryptoBilis, a reseller operating in Southeast Asia.

Pattern of Losses

The 80 BTC loss is not an isolated case. Multiple buyers who purchased Ledger devices through the same reseller have reported significant losses. Ledger confirmed on October 9, 2026, that it is investigating fund losses connected to CryptoBilis. The company is not waiting for the investigation to finish before issuing guidance.

Investigation and Guidance

Anyone who bought a Ledger from the reseller in the last 90 days has been told not to initialize their device. Ledger is also advising those buyers to move their assets to new Ledger wallets set up with different seed phrases.

Analysts' Estimates

Analysts' estimates of the total damage range from $72 million to over $87 million, spread across numerous victim wallets.

Possible Causes

The cause has not been confirmed. Speculation centers on two possibilities: supply-chain tampering, where a device is compromised before it reaches the buyer, or phishing attacks that trick users into handing over sensitive information.

Localized Issue

So far, no reports indicate that Ledger devices bought through official channels have been affected. That points toward a localized issue tied to CryptoBilis.

Implications for Hardware Wallet Buyers

If supply-chain tampering turns out to be the cause, the security model breaks down if someone gets to the hardware first. If phishing is behind the losses, the takeaway shifts toward user behavior and how victims were targeted.

Practical Steps

For now, the practical steps are straightforward. Anyone who bought a Ledger from CryptoBilis in the past 90 days should follow the company's guidance: do not initialize the device, and move funds to a new Ledger wallet with a different seed phrase.