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What’s Known About the 80 BTC Theft and Ledger’s CryptoBilis Investigation
A trader reportedly lost 80 BTC, worth about $6.6 million, after the coins moved from a new Ledger wallet on October 9—10 days after arriving there. The trader reportedly paid about $5.2 million for the Bitcoin and had previously been about $1.38 million ahead on paper.
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Key takeaways
- A trader reportedly lost 80 BTC, worth about $6.6 million, after the coins moved from a new Ledger wallet on October 9—10 days after arriving there.
- The trader reportedly paid about $5.2 million for the Bitcoin and had previously been about $1.38 million ahead on paper.
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openai.comCreate a landscape editorial hero image for this Studio Global article: What is known about the October 9 theft of 80 Bitcoin worth roughly $6.6 million from a trader’s 10-day-old Ledger wallet reportedly purchas. Article summary: The 80 BTC transfer is reported, but its cause is not established. Ledger is investigating losses reported by customers who bought devices through Southeast Asian reseller CryptoBilis; the much larger $70 million–$90 mil. Topic tags: general, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fa
A trader reportedly lost 80 Bitcoin worth about $6.6 million in a single transfer on October 9, after the coins had been held in a new Ledger wallet for 10 days. The reported timeline is supported by public Bitcoin transaction records, but it does not establish how the wallet was compromised. Ledger is investigating separate loss reports involving customers who bought devices through Southeast Asian reseller CryptoBilis. 14
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The reported 80 BTC timeline
Blockchain reporting says the trader acquired 80 BTC for about $5.2 million, at roughly $65,000 per coin, around four months before the theft. The position had at one point shown an unrealized gain of about $1.38 million. 37
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The 80 BTC were reportedly deposited into the new Ledger wallet on September 29. A single transfer took them out on October 9 at 05:54 UTC; at the time, the coins were valued at about $6.6 million. Those figures describe the reported transaction and market value, not a confirmed explanation for the loss. 14
Ledger’s response and guidance for recent buyers
Ledger said it was investigating reports of lost funds from customers in Southeast Asia who bought devices through CryptoBilis, and asked the reseller to pause Ledger-device sales and shipments. Ledger advised customers who bought from the reseller in the previous 90 days not to set up an unused device. People who had already set one up were advised to consider moving assets to a new signer with a newly generated recovery phrase. 2
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Reports describe CryptoBilis as an authorized Ledger reseller serving Indonesia, Malaysia and the Philippines. Some coverage spells the name “CryptoBillis.” 1
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Wider reports are not a confirmed loss total
Investigators’ estimates of suspected losses reportedly rose from more than $72 million to more than $86 million across Bitcoin, Ethereum and Tron. Later reporting put the suspected total near $90 million and said Tether froze USDT linked to the suspected thefts. These are investigator estimates and reports about linked funds—not an aggregate loss figure confirmed by Ledger. 2
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Some coverage also mentions a separate theft of roughly 7 million USDT involving a buyer connected to the reseller. That report has not been confirmed by Ledger, and it should be treated as an allegation rather than an established part of a verified total. 47
The cause remains unknown
Changpeng Zhao warned that counterfeit devices or a supply-chain compromise were possible explanations. That warning is not proof that either occurred. The available reporting does not establish whether the issue involved a device, a recovery phrase, software or another factor; Ledger had not confirmed a cause or the total losses in the reports cited here. 23
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A separate claim about an August Coldcard firmware incident involving roughly $70 million in stolen Bitcoin is not substantiated by the reporting cited here. It should not be treated as a verified precedent or as evidence about the CryptoBilis investigation.
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A trader reportedly lost 80 BTC, worth about $6.6 million, after the coins moved from a new Ledger wallet on October 9—10 days after arriving there.
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A trader reportedly lost 80 BTC, worth about $6.6 million, after the coins moved from a new Ledger wallet on October 9—10 days after arriving there. The trader reportedly paid about $5.2 million for the Bitcoin and had previously been about $1.38 million ahead on paper.
Sources
beincrypto.comTrader Loses $6.6 Million in Bitcoin After Buying New Ledger Wallet
crypto-economy.comTrader Loses $6.6M in BTC 10 Days After Funding New Ledger Wallet - Crypto Economy
econotimes.comLedger Investigates Alleged $86 Million Crypto Wallet Theft
odaily.newsAll assets lost: An address bought 80 BTC for $5.2 million 4 months ago and deposited them into a Ledger