Crypto scammer loses millions as thieves drain Ledger wallets
Image: BeInCryptoA crypto scammer lost roughly $4.8 million when thieves drained Ledger wallets holding task scam proceeds. Chainalysis tracked the stolen funds to addresses emptied on October 9. The incident forms part of a wider theft affecting devices sold by reseller CryptoBilis in Southeast Asia. Ledger warned buyers from the reseller not to set up their devices and to move existing funds to a new seed.
Key points
- A suspected scammer lost about $4.8 million in a Ledger wallet drain.
- Chainalysis revealed that the scammer stored illicit proceeds in three separate Ledger addresses.
- The addresses were emptied in single transfers on October 9 into a wallet flagged for holding stolen funds.
- Affected devices were sold by CryptoBilis, a reseller operating in Southeast Asia.
Why it matters
Hardware wallet compromises through compromised reseller channels can lead to total loss of funds for users in affected regions. This incident highlights custody risks associated with purchasing hardware wallets from unauthorized or compromised resellers.
What's unclear
The total financial loss of the wider Ledger theft ranges from $100 million to $102 million in one report, while another report cites a figure near $90 million.
Price context · BTC
At publication
$81,647.00
Now
$81,613.00
Change since
−0.04%
7 days · dashed line = publication
Sources · 3 publishers
Bitcoinist
Tier 2
Crypto Scammer Loses $4.8 Million In Stolen Bitcoin To Another Group Of Thieves
The Daily Hodl
Tier 2
Scammer Loses $4,800,000 in Bitcoin as Thieves Drain Ledger Wallets Holding ‘Task Scam’ Proceeds
Coverage timeline
- First reported by BeInCrypto
- Also reported by Bitcoinist
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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