Ledger is examining an asset-theft incident tied to Southeast Asia customers who purchased Ledger devices through the CryptoBilis distributor.

The company has asked CryptoBilis to suspend sales and shipments and advised customers who bought devices from the distributor in the past 90 days not to initialize them.

Users who have already completed setup should create a new Ledger signing device with a fresh seed phrase and move assets to a new wallet.

On-chain investigators estimate hundreds of wallets across the Bitcoin, Ethereum, and Tron networks have been compromised, with losses surpassing $86 million.

Security researcher tanuki42 previously estimated losses above $72 million and noted that the total was still rising. The exact cause of the incident and whether the devices contain a vulnerability remain under investigation.