CryptoBilis has halted all hardware wallet sales during Ledger’s investigation into stolen customer funds. Ledger confirmed an unauthorized hardware implant in one affected device and says all confirmed draining cases involve the Southeast Asian reseller, with no indication its own systems or services were compromised. Investigator WazzCrypto estimated losses at $93.46 million across eight networks.
Former CryptoBilis founders Arravind Prabu and Vimalatheethan denied involvement in the Ledger incident, saying they stepped down and completed an operational handover in March 2026 after an acquisition by new ownership under Nicholas Chang. They say they have had no access to customer data or backend systems since and have offered historical records to help Ledger’s investigation.