Today in crypto, hardware wallet maker Ledger, which has been investigating reports of crypto losses involving its devices purchased from a Southeast Asian reseller, confirmed that one of the impacted users’ devices contained an unauthorized hardware implant, and Meanwhile, a Sam Altman-backed life insurer licensed to operate completely in Bitcoin, announced $37.5 million in new funding from existing investors for a total $180 million.
Ledger confirms unauthorized hardware implant; losses may exceed $86M
Hardware wallet maker Ledger, which has been investigating reports of crypto losses involving its devices purchased from a Southeast Asian reseller, confirmed that one of the impacted users’ devices contained an unauthorized hardware implant.
Ledger said in a Sunday post on X that it was reaching out to users as part of its ongoing investigation into the losses, which investigator Specter estimated may exceed $86 million across Bitcoin, Ethereum and Tron.
Ledger asked that if individuals have information regarding the investigation, could they please reach out to its bounty program at bounty@ledger.fr.
As a measure of precaution, reseller CryptoBilis confirmed in the post that it had ceased sales of all hardware wallet inventory until the investigation is concluded. Ledger is in active communication with CryptoBilis on next steps.
Sam Altman-backed Bitcoin life insurer, Meanwhile, raises more funds
Meanwhile, a life insurer licensed to operate completely in Bitcoin, announced $37.5 million in new funding from existing investors.
Bermuda-based Meanwhile, whose backers include OpenAI CEO Sam Altman, has now raised more than $180 million.
Bain Capital Crypto led the new round, alongside Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital, it said in a statement.
The round follows increased international demand for Meanwhile’s Bitcoin life insurance policies, particularly in Asia, Europe and the Middle East, amid broader macro instability, according to the statement on Thursday.
“Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” Zac Townsend, Meanwhile’s co-founder and CEO, said in the statement. “Brokers came to us because their clients kept asking. This round lets us keep up with them.”
Ledger probes suspected crypto thefts tied to Southeast Asian reseller
Ledger is investigating reports of cryptocurrency losses involving hardware wallets sold by an authorized Southeast Asian reseller, as blockchain researchers separately report suspected thefts exceeding $72 million.
The hardware wallet manufacturer has instructed CryptoBilis, an authorized reseller in Indonesia, Malaysia and the Philippines, to suspend sales and shipments while it investigates.
Customers who purchased devices from CryptoBilis in the past 90 days have been advised not to activate them. Those already using the devices should consider transferring their holdings to a new Ledger wallet with a newly generated recovery phrase.
Meanwhile, onchain investigator tanuki42 identified eight addresses allegedly connected to more than $72 million in stolen cryptocurrency. Another researcher, Specter, estimated losses exceeding $86 million across Bitcoin, Ethereum and Tron.
Security Alliance (SEAL) urged potential victims whose funds reached the identified addresses to contact its incident-response team.
Ledger has not verified the reported losses or established a connection between the suspicious transactions and CryptoBilis.
The company said its infrastructure and services were not compromised and that it had received no similar reports involving devices sold through its own sales channels. The investigation remains ongoing.
