Hardware wallet manufacturer Ledger is investigating the theft of $86 million in Bitcoin (BTC) connected to devices distributed through reseller CryptoBilis, according to a COINOTAG report published on October 9, 2026.

In an update issued at 21:50 UTC the same day, Karpelès urged affected buyers to open their devices and photograph the circuit boards, saying the images could reveal whether tampering took place.

Background

Ledger produces hardware wallets — small dedicated devices designed to keep the private keys that control cryptocurrency holdings offline, isolated from internet-connected computers. Alongside direct sales, the company's products reach customers through third-party resellers.

Security observers have long noted that hardware wallets acquired outside official sales channels can, in principle, be physically modified before reaching a buyer in ways that compromise the recovery phrase — the sequence of words that fully controls the funds stored on the device. Photographing a device's internal circuitry, as Karpelès has suggested, allows buyers to document the hardware as delivered so that any physical alterations can be identified and reviewed. The episode underscores the supply-chain dimension of crypto self-custody, where security depends not only on how a device is used but also on the path it travels from manufacturer to buyer.

The report links $86 million worth of BTC to sales made through CryptoBilis. No further details regarding the scope, timeline, or parties involved were provided in the source article; findings from Ledger's review — including whether buyers' photographs point to tampering — are the immediate developments to watch as the investigation continues.

This article was first published on COINOTAG: Ledger Probes $86M Bitcoin (BTC) Theft Linked to Reseller CryptoBilis