Ledger Confirms Theft Linked to Reseller CryptoBilis, USDC Moved Before Freeze
A security incident involving Ledger hardware wallets has resulted in a multimillion-dollar theft, with on-chain data showing rapid fund movement.
A security incident involving Ledger hardware wallets has resulted in a multimillion-dollar theft, with on-chain data showing rapid fund movement. USDC (USDC) is trading at $0.9997. This is an original Token Times brief synthesising 3 outlets (Unchained, Decrypt, Crypto.news), plus live market data, as of Mon, 12 Oct 2026 18:15:01 UTC.
This incident highlights vulnerabilities in the hardware wallet supply chain and raises concerns about user trust in custodial security solutions. The rapid movement of stolen USDC before any freeze further underscores the challenges in securing digital assets.
- Theft estimated between $93.2M and $103.4M, with USDC moved before freeze.
- Ledger claims direct sales and systems are unaffected.
- Reseller CryptoBilis has halted hardware wallet sales.
- Incident raises concerns about hardware wallet supply chain security.
Multiple outlets, including Unchained and Decrypt, confirm that Ledger has attributed the security breach to its reseller CryptoBilis. Unchained reports that onchain trackers estimate the theft between $93.2 million and $103.4 million, while Decrypt focuses on Ledger's statement that its direct sales and systems remain unaffected. Both outlets agree that CryptoBilis has stopped selling hardware wallets in response to the incident. However, the total loss amount is not officially confirmed by Ledger, and the discrepancy in emphasis between the technical breach details and corporate response reflects differing reporting priorities.
- Ledger Probes $91M Crypto Theft Linked to Southeast Asia Reseller
- Ledger Confirms Unauthorized Hardware Implant in CryptoBilis Wallets
- Ledger Confirms Theft Linked to Reseller CryptoBilis, USDC Moved Before Freeze — this brief
Ledger has confirmed that a security incident involving its hardware wallets is linked to reseller CryptoBilis, though the company has not disclosed the total value of assets stolen. Onchain trackers cited by Unchained estimate the theft between $93.2 million and $103.4 million.
Bitquery data indicates that the thief moved 
USDC out of five wallets before any freeze could be implemented. This rapid movement of funds highlights the challenges in securing digital assets and responding to security breaches in a timely manner.
Decrypt reports that Ledger has stated its own systems and direct sales are unaffected by the incident. The company has emphasized that the breach was limited to CryptoBilis, which has halted hardware wallet sales in response to the incident.
The incident raises significant concerns about the security of hardware wallet supply chains and the potential vulnerabilities that may exist in the distribution of custodial security solutions. This is particularly relevant given the increasing popularity of hardware wallets as a means of storing cryptocurrencies securely.
In the broader market context, the total crypto market cap stands at $2.86 trillion, with 
Bitcoin down 1.53% in the last 24 hours. The Fear & Greed Index is at 69, indicating a state of 'Greed' among investors. The USDC stablecoin, which was involved in the theft, has a market cap of $72.8 billion and has seen minimal price movement, currently trading at $0.999734.
Since this brief published about 2 hours ago, USDC (USDC) has moved from $0.9997 to $0.9997 — -0.00%.
The chart plots USDC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDC ≈ ₹104.17 (about $0.9997), up 0.0% over 24 hours. The rupee itself trades about 7.5% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 12, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Ledger Confirms Theft Linked to Reseller CryptoBilis, USDC M — questions & answers
How much was stolen in the Ledger incident?
Onchain trackers estimate the theft between $93.2 million and $103.4 million.
What is Ledger's response to the security breach?
Ledger claims its direct sales and systems are unaffected and has confirmed the breach is linked to reseller CryptoBilis.
What happened to the stolen USDC?
The thief moved USDC out of five wallets before any freeze could be implemented.
How much is 1 USDC worth in rupee today?
About ₹104.17 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9997. The rupee price moves with both USDC's US-dollar price and the USDT/INR rate; use our USDC in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Unchained, Decrypt, Crypto.news, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.