Binance Co-Founder CZ Flags Possible Ledger Supply-Chain Attack, Warns Recent Buyers

ChainCatcher reports that Binance co-founder Zhao Changpeng (CZ) has issued a warning to Ledger hardware wallet users, particularly those who bought devices recently. Based on information available so far, the incident appears to be confined to the supply chain and linked to a single supplier, with a limited number of users potentially receiving counterfeit or modified Ledger devices. CZ said Ledger remains a long-established brand with a strong security reputation, but supply-chain compromises can still happen. He added that he expects the BNB ecosystem and the broader crypto industry to help trace stolen funds and support recovery efforts. Ledger previously said it is investigating a user asset theft case in Southeast Asia involving devices purchased via distributor CryptoBilis. Ledger has asked CryptoBilis to halt all sales and shipments. Users who bought devices from this distributor within the past 90 days have been advised not to initialize their devices. Those who have already set up their devices should generate a new mnemonic phrase, create a new Ledger signing device, and move assets to the new wallet. Onchain investigator Specter estimates that hundreds of wallets across the Bitcoin, Ethereum, and Tron networks were affected, with losses exceeding $86 million. Security researcher tanuki42 previously put losses above $72 million and said the figure is still increasing. The cause of the incident, and whether the affected devices contain security vulnerabilities, remains under investigation.