New Clue in Ledger Theft Case: Distributor CryptoBilis Changed Ownership in March, Equity Registration Points to Chinese National

BlockBeats news, October 10 — Malaysian hardware wallet retailer CryptoBilis has been revealed to have undergone a change of ownership earlier, during an investigation into a suspected supply chain attack 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 of this year, and the original shareholders subsequently withdrew from all operational, managerial, and administrative roles. They stated that after the handover, the founding team could no longer understand the company's actual operations and only continued to assist with coordination of certain activities, emphasizing "we are no longer part of the company" and urging current management to handle the incident transparently.

The disclosure of this equity change comes as CryptoBilis is under scrutiny for allegedly being involved in a supply chain attack on Ledger hardware wallets, with the relevant devices reportedly implanted with hidden modules capable of stealing seed phrases. However, there is currently no conclusive evidence linking CryptoBilis's ownership change to the related wallet theft incidents.

CryptoBilis has temporarily suspended the sale and shipment of hardware wallets of all brands across all stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical stores until further notice.