The Southeast Asian distributor of French cryptocurrency hardware wallet Ledger, CryptoBilis, has been found to have tampered with hardware wallets by embedding miniature eavesdropping modules designed to steal users' mnemonic phrases. This has led to the theft of cryptocurrency assets worth over $92 million. These attacks exploit the vulnerability during device initialization, where mnemonic phrases are displayed on the screen; the modules capture these phrases and transmit them via cellular networks.

In addition to Southeast Asia, similar tampering incidents have been uncovered in some Ledger hardware wallets sold in Europe. Although Ledger has officially stated that its internal systems remain secure and unaffected, the company has not offered compensation to affected users. Instead, it has issued a reminder for users to purchase products exclusively through authorized channels to avoid such risks.