CryptoBilis ownership change revealed: former co-founder says March it was acquired, hardware wallet sales suspended across Southeast Asia

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⚡️New lead in Ledger theft case: distributor CryptoBilis March changes hands, with ownership records pointing to a Chinese national

BlockBeats reports that October 10, during an investigation into a suspected supply-chain attack on Ledger devices, Malaysian hardware wallet distributor CryptoBilis was revealed to have undergone a change of ownership earlier. Newly disclosed company records show that an individual named Jiaming, whose registered address is in Heilongjiang Province, China, has held the company’s August 3 shares since 100%A former co-founder of CryptoBilis confirmed that the company was acquired in March this year, after which the original shareholders withdrew from all operational, management, and administrative roles. The former co-founder said that following the handover, the founding team could no longer understand the company’s actual operations and continued only to assist with the coordination of certain activities, emphasizing, “We are no longer part of the company,” and urging the current management to handle the incident transparently.

The ownership change came to light as CryptoBilis was drawing attention over suspected involvement in a supply-chain attack on Ledger hardware wallets. The devices were allegedly implanted with hidden modules capable of stealing recovery phrases. However, there is currently no conclusive evidence that CryptoBilis’s change of ownership is connected to the related wallet theft incident.

CryptoBilis has temporarily suspended the sale and shipment of hardware wallets from all brands through its stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical stores until further notice.

Original link https://m.theblockbeats.info/flash/371090

Key points

Company records show that an individual named Jiaming has held August 3 of CryptoBilis since 100%shares.
CryptoBilis’s former co-founder says the company was March acquired this year, after which the original shareholders withdrew from operational, management, and administrative roles.
CryptoBilis has drawn attention over suspected involvement in a supply-chain attack on Ledger hardware wallets, with the devices allegedly implanted with hidden modules capable of stealing recovery phrases.
There is currently no conclusive evidence that CryptoBilis’s change of ownership is connected to the wallet theft incident.
CryptoBilis has suspended the sale and shipment of hardware wallets through all stores and online channels in Malaysia, the Philippines, and Indonesia, and has closed its physical stores.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

The report says that CryptoBilis was found to have changed owners during the investigation, with Jiaming registered as holding all shares. The company’s former co-founder said that the original shareholders had withdrawn from management. Meanwhile, CryptoBilis suspended hardware wallet sales and shipments in countries, but there is currently no conclusive evidence as to whether the ownership change is related to the wallet theft.

Why it matters to readers

This will affect users’ assessment of distributors, device sources, and hardware wallet security; however, the available information cannot prove that CryptoBilis participated in the incident.

If you purchased a hardware wallet through a related channel, you should follow the official investigation, the scope of affected devices, and subsequent arrangements for users.

Risks and unknowns

Jiaming’s full identity, beneficial ownership information, and details of the acquisition transaction have not been disclosed.
The supply-chain attack and the hidden module allegedly designed to steal recovery phrases remain under investigation.
It remains unclear which devices were affected and when sales will resume.
The available information does not prove a causal relationship between CryptoBilis’s change of ownership and the wallet theft incident.

CryptoBilis ownership change revealed: former co-founder says March it was acquired, hardware wallet sales suspended across Southeast Asia

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