New leads in the Ledger crypto theft case: Distributor CryptoBilis changed ownership in March, with equity registration pointing to a Chinese national.
54 minutes ago
Malaysian hardware wallet dealer CryptoBilis has been revealed to have undergone an ownership change prior to the ongoing investigation into suspected supply chain attacks on Ledger devices. Newly disclosed company records show that an individual named Jiaming, with a registered address in Heilongjiang Province, China, has held 100% of the company’s shares since August 3. A former co-founder of CryptoBilis confirmed that the company was acquired in March this year, with original shareholders subsequently stepping down from all operational, management, and administrative roles. He stated that the founding team has been unable to access details of the company’s actual operations since the handover, only continuing to assist with coordinating some activities, and emphasized, “We are no longer part of the company,” urging current management to handle the incident transparently. The ownership change disclosure comes as CryptoBilis faces scrutiny over suspected involvement in the supply chain attack on Ledger hardware wallets, with the devices allegedly implanted with hidden modules to steal recovery phrases. However, there is currently no conclusive evidence linking CryptoBilis’ ownership change to the related wallet breach incident. CryptoBilis has temporarily suspended the sale and shipment of all brands of hardware wallets across all its physical stores and online channels in Malaysia, the Philippines, and Indonesia, and closed its offline stores until further notice.
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