CryptoBilis ownership shifts to China-based shareholder as Ledger supply-chain probe deepens
AI Market Summary
Reports that Malaysian Ledger distributor CryptoBilis changed ownership to a China-based individual while facing scrutiny over an alleged Ledger supply-chain compromise heighten counterparty and custody-risk concerns. Even without confirmed linkage, the temporary halt of hardware wallet sales and store closures can undermine confidence in self-custody supply chains, potentially increasing near-term risk aversion and operational friction for retail onboarding and withdrawals across affected Southeast Asian channels.
Impact level
● Medium
Affected assets
BTC/USDT+0.45%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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ME News reported that on Oct. 10 (UTC+8), investigators looking into a suspected supply-chain attack involving Ledger devices uncovered a change in ownership at CryptoBilis, a Malaysian distributor of hardware wallets.
Recently disclosed corporate filings show that an individual named Jiaming, registered at an address in Heilongjiang Province, China, has held 100% of CryptoBilis's shares since Aug. 3. The company's former cofounders said CryptoBilis was acquired in March, and that the original shareholders have since resigned from all operational, managerial, and administrative roles.
The founding team said it has had no visibility into the company's day-to-day operations since the handover and has only provided limited coordination support. They said they are no longer part of the company and called on current management to address the situation transparently.
CryptoBilis is facing scrutiny over alleged involvement in the Ledger hardware wallet supply-chain attack, in which devices were reportedly tampered with via concealed modules designed to steal recovery phrases. At this stage, there is no conclusive evidence linking the ownership change to the alleged wallet-theft incident.
CryptoBilis has temporarily halted sales and shipments of all branded hardware wallets across its stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical outlets until further notice. (Source: ChainCatcher)
